From: Sandy Sandfort <sandfort@crl.com>
Date: Tue, 30 Aug 94 10:47:47 PDT
To: Cypherpunks <cypherpunks@toad.com>
Subject: OFFSHORE DIGITAL BANKS
Message-ID: <Pine.3.87.9408301005.A26194-0100000@crl2.crl.com>
MIME-Version: 1.0
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                         SANDY SANDFORT
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C'punks,

Chris Claborne wrote:

    I guess it boils down to this, we have to have someone
    that we can trust. The issue of currency conversion
    would also be a new one for me.  Would my money be
    Swiss?  If the transaction gos south, what do I do, I am
    no longer covered by US law and would have no proof that
    this transaction ever took place (remember, no one can
    ask the bank for records). Hmmmm

Your money in a Swiss based bank would be Swiss if that's what
you wanted.  Almost certainly, you would have additional options
for your "unit of accounting."

Though US law might not help you, it is not true to say that "no
one can ask the bank for records."  You can.  The proof that a
transaction (such as a deposit) took place, is the digitally
signed receipt you get from the bank.  It is VERY good proof.


 S a n d y

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