From: luxana <pati@ipied.tu.ac.th>
Date: Wed, 10 Jan 1996 21:11:55 +0800
To: Alex Strasheim <cp@proust.suba.com>
Subject: Re: Starting an e-cash bank
In-Reply-To: <199601031925.NAA02085@proust.suba.com>
Message-ID: <Pine.SUN.3.91.960110182856.4192C-100000@ipied>
MIME-Version: 1.0
Content-Type: text/plain


sorry if this is a little late.....

On Wed, 3 Jan 1996, Alex Strasheim wrote:

> > What does it take to be called a bank?
> 
> Is it necessary to be called a bank?  I've got a storefront in Chicago.  
> What would prevent me from opening up a Mark Twain account and buying and 
> selling ecash on floppies, in person?  Do account holders have to agree 
> not to do that before Mark Twain gives them an account?  Is it illegal?
> 
> The currency exchange model almost seems more appropriate for most users
> than the bank model.

Not exactly currency exchange.  More like simple exchange.  Don't confuse
"issuing ecash" with "exchanging ecash for cash".  Issuing implies that
you have assets to back up the ecash.  Exchange only means that your
giving up your ecash for an equivalent amount of cash. 

Anybody could conceivably "exchange ecash".  Only "banks", who back up 
your money by law and researves can "issue ecash".

-------------------------------------------------------------------------------
Patiwat Panurach      	     Whatever you can do, or dream you can, begin it.
eMAIL: pati@ipied.tu.ac.th      Boldness has genius, power and magic in it.
m/18 junior Fac of Economics		-Johann W.Von Goethe
-------------------------------------------------------------------------------