From: Sandy <72114.1712@CompuServe.COM>
Date: Thu, 17 Feb 94 18:40:54 PST
To: <cypherpunks@toad.com>
Subject: REAL WORLD ENCRYPTION
Message-ID: <940218023605_72114.1712_FHF29-1@CompuServe.COM>
MIME-Version: 1.0
Content-Type: text/plain



-----BEGIN PGP SIGNED MESSAGE-----

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
                         SANDY SANDFORT
 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

C'punks,

Here is a further explanation how a digital bank would work in
practice.

REAL WORLD INTERFACE--Several of you expressed concern that
digital money could *only* be spent in "cyberspace" or would
otherwise be largely unavailable to you.  Not so.  Through the
use of bank issued debit and ATM cards, you could access their
account funds anonymously, in local currency, from cash machines
throughout the world.  In addition, we will offer our clients
other services which will allow them to "end run" around the need
for cash.

What is a "debit" card?  It is just like a credit card, except
that it is used to debit your bank account immediately rather
than extend you credit--at interest--for later repayment.  They
are issued by Mastercard, Visa and other card companies.  They
look, and are used, just like a regular credit card.  They are
anonymous because there use creates no audit trail pointing to
you.  Further, the bank will keep its records in a jurisdiction
that protects the privacy of such business records.  For the
truly paranoid, the bank will issue corporate debit cards.

More, later.


 S a n d y

P.S.  Please send UNencrypted private e-mail to my CRL address
      (sandfort@crl.com).  Please send PGP encrypted private
      e-mail to my AT&T address (ssandfort@attmail.com).

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

-----BEGIN PGP SIGNATURE-----
Version: 2.3a

iQCVAgUBLWQoxk5ULTXct1IzAQGcCQP/ZjsLozNR+GNqlGHYgHIygyuivMWeQxci
ws0GniW8874uKgjN+80VN0puKU7jxp+gm508ibpzQPSMRPKKO4TwD8KchyVFsuoK
F1CGD05L8elJzfSPxqI+JJUPh4aulK4+RbxXHzST4UKlVSjx1cPbvp+I7EvlUVKx
LiDwWNQQsTQ=
=auoN
-----END PGP SIGNATURE-----