[48919] in Cypherpunks
Japanese Firm Announces E-cash Implementation
daemon@ATHENA.MIT.EDU (AndrewBarrett/CheckFreeCorporation)
Thu Feb 1 12:55:28 1996
To: cypherpunks <cypherpunks@toad.com>
From: Andrew Barrett/CheckFree Corporation
<Andrew_Barrett@checkfree.com>
Date: 1 Feb 96 12:49:06 EDT
Multimedia Business Analyst via Individual Inc. : NTT has developed a
secure electronic cash system for smart cards and Internet-based
transactions, reports Reuter. Using very secure encryption algorithms, the
system allows users to transfer cash from their bank accounts to smart
cards after verification by the issuing bank.
NTT researcher Mikio Suzuki said the Japanese telecom operator plans to
begin trials of the system with a number of major city banks in the near
future. These are expected to include Fuji Bank and Sakura Bank.
