From: "M. Thomlinson" <phantom@u.washington.edu>
Date: Tue, 2 Apr 1996 16:51:36 +0800
To: cypherpunks@toad.com
Subject: PsychicCash IPO
Message-ID: <Pine.OSF.3.92a.960401153024.29879A-100000@saul5.u.washington.edu>
MIME-Version: 1.0
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PsychicCash(TM) Announces Initial Public Offering


PsychicCash, a leading developer of electronic commerce systems, today
announced that it will sell 4.5 Million shares of common stock at a price
of $25 a share. "This IPO will make me very rich" said co-founder Dan
Thompson, "but of course you already knew that."

PsychicCash pushes secure, thought-driven commerce into the modern world.
PsychicCash is the holder of a number of crucial psychic commerce patents,
including those on psychic blinding, psychic key-exchange, and psychic
anonymity. The PsychicCash technology is based on the idea that there is
no need for paper bills or plastic cards. Instead, a user simply thinks to
exchange money. PsychicCash requires no hardware, and little knowledge of
cryptography, however, it does require doing 1024-bit modular
exponentiation in your head.

"This is the logical progression of things," said PsychicCash supporter
Dionne Warwick. "The use of PsychicCash(TM) to secure transactions should
completely remove consumers' concerns about the safety of psychic
commerce."

Through the use of their patented technology, PsychicCash allows users to
transmit value to any vendor, in any denomination, in any currency. With a
future release of the protocol, a few additional multiplications will
allow PsychicCash users to anonymize either party. The release is
currently on hold due to problems in accidentally revealing (thinking)
blinding factors.

"Psychic debit" technology allows secure transmission of value across time
as well as space. That is, one can deduct amounts from payee's bank
accounts before the idea to purchase has even been conceived.  (A similar
use of this technique overcomes prior art claims on PsychicCash patents by
shifting the date of filing back as far as needed.)

As with all cryptographic solutions, PsychicCash must first get export
approval from the US government for each of its' products. However, an
ingenious system, called telepathic key escrow (TKE), should allow the
company expedited commodities jurisdiction approval. Using TKE, a user
simply thinks his key to the National TKE Center, which will then allow
access to the key only with a court order. Whether or not other countries
will allow the NTKEC to escrow their citizens' keys is still unclear.



For more information:

Tel: 206-936-0123
Within the US and Canada, phone: 1-212-888-8879  fax: 1-212-935-3882
e-mail: sales@psychiccash.mil
for customer and technical support:  think





Matt Thomlinson

University of Washington, Seattle, Washington.
Check my home page -- http://weber.u.washington.edu/~phantom