From: Blanc Weber <blancw@microsoft.com>
Date: Tue, 2 Jul 1996 07:15:33 +0800
To: "'cypherpunks@toad.com>
Subject: FW: "CyberPayment Infrastructure"
Message-ID: <c=US%a=_%p=msft%l=RED-81-MSG-960701181920Z-36004@tide19.microsoft.com>
MIME-Version: 1.0
Content-Type: text/plain



>----------
>From: 	Dick Moores[SMTP:rdm@netcom.com]
>Sent: 	Sunday, June 30, 1996 2:13 PM
>To: 	SEASIGI
>Subject: 	"CyberPayment Infrastructure"
>
>"CyberPayment Infrastructure" is the title of a new article from the
>Journal of Online Law.  I have an email subscription, but there's also
>a
>web site, http://www.wm.edu/law/publications/jol .  The new article
>should be on the web site soon, but if it's not, I'll send it to anyone
>who asks.  It's about 20k.  Here's the abstract:
>
>                           {Article 6}
>
>                   CyberPayment Infrastructure
>                  Henry H. Perritt, Jr. [NOTE 1]
>
>                  [Cite as Henry H. Perritt, Jr.,
>                  "CyberPayment Infrastructure,"
>                1996 J. Online L. art. 6, par. ___]
>
>Abstract
>
>{par. 1} An essential requisite for commerce on the Internet
>is the existence of a reliable and secure system to handle
>payment for goods and services purchased. The basic
>technology for such systems is public key encryption.
>Professor Perritt explains how this technology can be used
>to create a variety of "payment infrastructures." Any
>payment system must meet certain requirements: merchants can
>depend on it to be paid; consumers have access to the means
>of payment through intermediaries like "certificate
>authorities;" these intermediaries understand their
>responsibilities and risks; and existing financial
>institutions understand their responsibilities in the world
>of non-paper-based financial instruments. Much of what is
>necessary can be accomplished within today's legal framework
>without need of new laws.
>
>-----------------------------------------------------------------
>
>Dick Moores  rdm@netcom.com
>
>