From: p.v.mcmahon.rea0803@oasis.icl.co.uk
Date: Sun, 28 Aug 94 11:34:18 PDT
To: wessorh@ar.com
Subject: RE: Golbal Econ.
Message-ID: <9408281835.AA11165@getafix.oasis.icl.co.uk>
MIME-Version: 1.0
Content-Type: text/plain








> I would like to help get an internet economny going! For the internet
> to become a source of greater revenue I'd like to see a system that 
> can securely make business transactions that we are all happy with. 
> The amounts should be small transactions compaired with selling a car, 

All payment mechanisms require a basis of trust - so that the seller knows
s/he will get paid - and hence rely on trusted third parties (governments,
banks, charge card company etc), and/or need to be supported by specific
explicit seller-buyer contracts. Current (commercial) electronic business
transactions are underpinned by contracts, and security mechanisms
appropriate to the risks associated with the carrier of the transaction.

An "internet economy" needs a basis of trust, as well as security
mechanisms appropriate for the current level of IP security. What basis
of trust do you envisage?

- pvm