From: tibbs@sina.hpc.uh.edu (Jason L Tibbitts III)
Date: Wed, 30 Aug 95 00:21:04 PDT
To: cypherpunks@toad.com>
Subject: Mondex and currency exchange (Was: An article for Wired magazine)
In-Reply-To: <950814205254_74774.3663_EHL102-1@CompuServe.COM>
Message-ID: <9508300711.AA14904@hpc.uh.edu>
MIME-Version: 1.0
Content-Type: text/plain


Pardon me for being behind; I'm catching up with 1500 cypherpunks
articles...  I was skimming and came upon the following:

>>>>> "JM" == Jon Matonis <74774.3663@compuserve.com> writes:

JM> Mondex in the UK currently has official government units of account
JM> digitally represented for their Mondex card trial in Swindon.  They
JM> have also announced that in the future this card will hold up to five
JM> "official" currencies.

I'm not sure how Mondex works, but if currency conversion is made easy
doesn't this have an interesting effect on the currency markets?  If I can
have my machine follow micro changes in the markets and convert my money
around instantaneously without going through a middle-man then things could
get interesting.  Then again, I'm really nieve when it comes to currency
exchange.

Please show me the flaw here.
---
  Jason L. Tibbitts III - tibbs@uh.edu - 713/743-8687 - 221SR1
System Manager:  Texas Center for Advanced Molecular Computation 
            1994 PC800 "Kuroneko"      DoD# 1723