From: Bill Stewart <stewarts@ix.netcom.com>
Date: Sat, 11 Nov 95 01:07:18 PST
To: cypherpunks@toad.com
Subject: Re: Who needs time vaults anyway?
Message-ID: <199511110908.BAA16272@ix12.ix.netcom.com>
MIME-Version: 1.0
Content-Type: text/plain


At 12:15 AM 11/11/95 -0700, bryce@colorado.edu wrote:

>I don't really understand the use for "can't be opened until
>Christmas" tricks.  If you don't want anyone to see your info until
>Christmas then just don't give them a copy until then!  If you want
>to prove that you have it but not let them see it until later then
>do timestamping of hashes, zero-knowledge proofs and so forth.

For instance, suppose you want to give someone digicash on a certain day
(like a bond from your bank...)  Or leave a will, which nobody can hassle
you about while you're alive.  Or (as an extension of both) a trust that
can't be spent until some time certain in the future, like when you want
to pay Alcor to thaw your carcass out.

For the more realistic case, bonds, you want to be able to give them
the bond so they've got it in their hot little hands, but can't cheat by
spending it.  In a normal business relationship, where all the parties 
have names of some sort, this isn't so tough; it gets harder when 
some or all of you are pseudonyms...
#--
#				Thanks;  Bill
# Bill Stewart, Freelance Information Architect, stewarts@ix.netcom.com
# Phone +1-510-247-0663 Pager/Voicemail 1-408-787-1281