From: iang@cs.berkeley.edu (Ian Goldberg)
Date: Thu, 20 Jun 1996 09:35:39 +0800
To: cypherpunks@toad.com
Subject: Re: German Federal Bank opposes e-cash
In-Reply-To: <m0uWKRm-0000B2C@ulf.mali.sub.org>
Message-ID: <4q9cqs$ln7@abraham.cs.berkeley.edu>
MIME-Version: 1.0
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In article <m0uWKRm-0000B2C@ulf.mali.sub.org>, Ulf Moeller <um@c2.org> wrote:
>[What follows is my translation of a Reuters news item as seen on a
>mailing list.]
>
>"Risks with computer money"
>
>Frankfurt - the Federal Bank has once more warned against security risks
>with computer money. There is the danger that "Cyber-Money" stored in
>computers be counterfeited, said Directory Board member Edgar Meister
>at a conference in Schwaebisch-Hall. In addition there were the danger
>of money laundry, because the computer money could be wired across
>borders without problems. Meister announced that, if necessary, the EU
>Central Banks would take counter-measures, should computer money and
>re-loadable payment cards endanger the monetary policy. (rtr/18.6.96)

That's very interesting, especially considering Deutsche Bank has signed
on to be an ecash mint (http://www.digicash.com/publish/ec_pres5.html)...

I don't get this worry about counterfeiting.  It would seem to be harder to
counterfeit ecash than paper cash (though, admittedly, it would be harder to
track, but it would almost certainly have to be an "inside job").  Maybe
the journalists are just misinformed, or possibly the banking people?

   - Ian

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