From: lvhove@vnet3.vub.ac.be (Leo Van Hove)
Date: Sat, 23 Dec 1995 08:09:11 +0800
To: ecash@digicash.com
Subject: Re: [ecash] Re: Multi-issuer questions
Message-ID: <v01530501ad006a1fc797@[134.184.16.171]>
MIME-Version: 1.0
Content-Type: text/plain


>On Tue, 19 Dec 1995, Marcel van der Peijl wrote in the ecash mailing list:
>
>> Q: If user A signs up with bank A, and merchant B signs up with bank B,
>> can user A buy at merchant B?
>>
>> A: In theory:
>>
>> Bank A and bank B need to have an interbank clearing agreement. User
>> A sends his money to merchant B. Merchant B contacts his own bank,
>> bank B. Bank B recognizes the money as being issued at bank A,
>> contacts bank A, and clears the coins there. Bank A credits bank B's
>> account at bank A, bank B sends an acknowledge to merchant B and
>> merchant B sends the goods to user A.
>

On Fri, 22 Dec 1995, Patiwat Panurach <pati@ipied.tu.ac.th> replied:

>        I dispute this even on theoretical grounds.
>
>Am I right in assuming that the only reason Bank B has in contacting Bank
>A is to confirm that the ecash hasn't been double spent?  Once that is
>confirmed, there should be no need for contact between the two banks.
>Bank A should not have to credit Bank B's account as there has been no
>transfer from Bank A to Bank B.  The transfer has been the deposit from
          ---------------------
I guess you mean: from Bank B to Bank A

>Bank B's customer to Bank B. Bank B is allready "credited", i.e., its
>(e)cash researves have increased, the moment Bank A confirms that the
>ecash is valid.
>

In my understanding - and I'm sure Marcel van der Peijl :-) will correct me :-(
if I'm wrong - the only way Bank B can verify with Bank A that the
ecash it has received from merchant B has not been spent before is by
actually sending the _coins_ to Bank A.  Hence there _is_ a transfer from
Bank B to Bank A and thus Bank A has to credit Bank B's account...

Marcel?

Ciao,

leo



_________________________________________________________________________
Leo Van Hove

Centre for Financial Economics
Vrije Universiteit Brussel (Free University of Brussels)
Pleinlaan 2
B-1050 Brussels
Vox: +32 2 629.21.25
Fax: +32 2 629.22.82
e-mail: lvhove@vnet3.vub.ac.be

VUB's Web site: http://www.vub.ac.be
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