[83327] in Cypherpunks
Re: mondex
daemon@ATHENA.MIT.EDU (Steve Schear)
Fri Jul 18 13:39:41 1997
In-Reply-To: <199707181026.GAA01342@the-great-machine.mit.edu>
Date: Fri, 18 Jul 1997 10:01:39 -0700
To: Ryan Lackey <rdl@mit.edu>, cypherpunks@algebra.com
From: Steve Schear <azur@netcom.com>
Reply-To: Steve Schear <azur@netcom.com>
At 6:26 AM -0400 7/18/97, Ryan Lackey wrote:
>It would be kind of impressive in a way if Mondex were lame about
>allowing other currencies to proliferate free of state influences, yet
>managed to get the basic technology employed around the world, then some
>cypherpunkish group came up with their own cards, a little bit of
>software, etc. and then issued currency with more behind it than Mondex
>franchisees, had higher profits than Mondex, and then were to be the
>only currencies anyone would trust after the collapse of a few state-backed
>currencies. Also, I'd trust the cypherpunkish crowd to do a better job
>of hardware and software design for the cards and system, so they're
>likely to be more secure in that fashion as well.
>
>Am I being utterly out of touch with reality, or only tangential to it?
Actually Doug Barnes, C2, gave a brief but excellent rump session talk at
FC '97 pointing out that Mondex could be a near ideal way to pay for fully
anonymous e$, since settlement can be offline, immediate, and
non-repudiatable.
--Steve
