From: Bryce Wilcox <wilcoxb@nagina.cs.colorado.edu>
Date: Tue, 5 Sep 95 21:42:46 PDT
To: shamrock@netcom.com (Lucky Green)
Subject: Re: Forgery, bills, and the Four Horsemen (Articles and Comment)
In-Reply-To: <v02120d0bac72d46f9337@[192.0.2.1]>
Message-ID: <199509060442.WAA08575@nagina.cs.colorado.edu>
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I, Bryce Wilcox <bryce.wilcox@colorado.edu> wrote:
> 
> >I hope I'm not missing anything here.


shamrock@netcom.com (Lucky Green) wrote:
>
> Only that Ecash has no benefits for transactions that are of an illegal
> nature. The meaning of "illegal" is of course increasing as new laws are
> passed every session of the legislature.


Chaum says that (especially when speaking before U.S. Congress) but I think
he is playing both sides of the fence.  He is a die-hard privacy advocate who
allegedly turns down lucrative business deals because he feels they would
dilute his privacy achievements.  The truth is that Chaumian DigiCash is a
*lot* safer for criminals than, say, credit cards, and when it is combined
with the other tools in a money launderer's toolbox, I expect it will be a
great boon to them.


Suppose you have acquired a million dollars worth of legal, above-board
DigiCash dollars and you want to surreptitiously transfer this wealth to a
below-board friend.  Your friend creates a temporary anonymous account at an
understanding bank.  You just use a lot of small denominations to squirt the
dollars to your friend's account.  Then he squirts them to his real accounts
and destroys the blinding factors that the temporary anon account used.


Now without active physical surveillance, nobody other than yourself and your
friend will ever know where the money went, and you can't prove that you gave
it to him, either...


I hope no bloodthirsty mob bosses or statist legislators are reading this...


Bryce

signatures follow:


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    public key on keyservers     /.       island Life in a chaos sea         
    or via finger 0x617c6db9     /             bryce.wilcox@colorado.edu     
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