From: "James A. Donald" <jamesd@echeque.com>
Date: Sun, 27 Sep 1998 22:58:52 +0800
To: "Robert A. Costner" <cypherpunks@cyberpass.net
Subject: Re: Cypherpunks defeat?
In-Reply-To: <4.0.2.19980927162224.00bb9d80@shell11.ba.best.com>
Message-ID: <199809280358.UAA27338@proxy3.ba.best.com>
MIME-Version: 1.0
Content-Type: text/plain



    --
At 05:10 PM 9/27/98 -0700, James A. Donald wrote:
> > But for the scheme to be successful, we need many token 
> > issuers

At 10:32 PM 9/27/98 -0400, Robert A. Costner wrote:
> Is there existing open software available for this?

IBM is proposing that anyone, or many people, will be free to
act as issuers of promises to pay in their proposed microcash
system.  Obviously their system is not very open, but unlike
previous amateurish proposals for microcash, it does support
a rich system of intermediaries transferring aggregated
promises to pay.

We really need an open system, which IBM is not, which goes
down to millicent values, which IBM does not, and which
supports intermediaries moving aggregated transactions, so
that customer and server to not have to be clients of the
same intermediary, which IBM does support, and previous
proposals for micropayment did not.

    --digsig
         James A. Donald
     6YeGpsZR+nOTh/cGwvITnSR3TdzclVpR0+pr3YYQdkG
     Wew5mzbrzY0w3HicOSQ4AfZq5mUz1m+2tsx31B+Z
     4qFN1ClYcfHx6uSYTNssozZoWye7rdANKGzzp16kS
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We have the right to defend ourselves and our property, because 
of the kind of animals that we are. True law derives from this 
right, not from the arbitrary power of the omnipotent state.


http://www.jim.com/jamesd/      James A. Donald