From: hughes@ah.com (Eric Hughes)
Date: Thu, 19 May 94 11:37:42 PDT
To: cypherpunks@toad.com
Subject: Mosaic to support digital money in September
In-Reply-To: <199405191424.HAA28351@netcom.com>
Message-ID: <9405191840.AA08687@ah.com>
MIME-Version: 1.0
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It seems that you have information that is not in the press release
you include, which talks (as far as I can tell) about catalog
purchases with credit cards.

   Enterprise Integration Technologies and friends will
   enable digital money transactions in Mosaic in September

Is this announced?

   The transaction model has a crippled mode for people
   outside the US and Canada

Crippled?

   They intend that you will be able to write contracts and
   internet checks on participating banks.  

Will the recipient of the check be required to be at a participating
bank?  And you can already write contracts with existing digital
signatures.  A contract is just an agreement between two parties;
intermediation is not required.

   For this reason I think decentralized account based
   digital money is the best hope.

Account based money is identity based money, even if the identity is a
pseudo-identity.  The whole point of cryptocash protocols is to
separate the link between two account by mediating the transaction
with some instrument.

Eric