From: mpd@netcom.com (Mike Duvos)
Date: Fri, 25 Mar 94 09:45:56 PST
To: cypherpunks@toad.com
Subject: Real Digital Money
Message-ID: <199403251801.KAA03340@mail.netcom.com>
MIME-Version: 1.0
Content-Type: text/plain


While we are discussing digital cash systems, I just happened to
notice that a local BBS I use is now accepting a form of digital
cash for subscriptions and services.

They have solved the conversion problem between physical money
and digital money in a rather interesting way which I thought I
would pass along.

Through a commercial firm by the name of True Media, Inc, located
in Florida, one can obtain a 7 digit token in return for a $10
charge to ones phone bill by calling a 900 number.  An automated
voice system reads you the 7 digit number without the need for
human intervention.

Said tokens may then be enclosed in Email to the Sysop when
requesting subscription upgrades and will be accepted as if they
were real money.

Although this is primitive compared to the protocols we have been
discussing, it is kind of neat.  Using an automated response
system on a 900 number in order to convert dollars into digital
tokens is an innovative approach.

-- 
     Mike Duvos         $    PGP 2.3a Public Key available    $
     mpd@netcom.com     $    via Finger.                      $