From: Steve Schear <azur@netcom.com>
Date: Sat, 21 Jun 1997 01:50:41 +0800
To: Tim May <cypherpunks@toad.com>
Subject: Re: Fw: Advance Bank launches ecash
In-Reply-To: <199706201622.UAA05969@ns2.emirates.net.ae>
Message-ID: <v03102801afd06cbcb3be@[10.0.2.15]>
MIME-Version: 1.0
Content-Type: text/plain



>I was unable to connect to the listed URL, but I rather suspect this is not
>a form of "e-cash" that is of much interest or use to Cypherpunks.

The URL was missing a ':' after the http, otherwise worked fine for me.

>
>No mention of "untraceable" or "anonymous" or "Chaum." And no mention of
>"Digicash," except in your (Wayne's) introduction; Digicash is, rightly or
>wrongly, a trademark of the company with the same name.

I suspect there are slight differences, but will need to confirm, between
Advance's mint protocol and MT.  If I understand correctly, they use a
somewhat different customer authentication procedure (PIN).  Even so, it
should have all the same anonymity features (or lack thereof) of MT ecash.

It isn't clear to me, from their lengthy regulation list, whether a
non-Australian can open an account.

Several items of interest.
1. No Mac support.  This is an opportunity for a non-Digicash purse.

2. Fee schedule.  Advance plans to charge a 0.5% discount to funds entering
the mint, like traveller's checks.  Either banking competition must be
different in Australia or they know something I don't.  This would probably
not fly in the US under current competitive conditions.

--Steve


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Steve Schear              | tel: (702) 658-2654
CEO                       | fax: (702) 658-2673
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Las Vegas, NV 89129       | Internet: azur@netcom.com
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        I know not what instruments others may use,
        but as for me, give me Ecache or give me debt.

        SHOW ME THE DIGITS!