[17706] in cryptography@c2.net mail archive
Re: Why Blockbuster looks at your ID.
daemon@ATHENA.MIT.EDU (Edgar Danielyan)
Fri Jul 8 16:18:07 2005
X-Original-To: cryptography@metzdowd.com
X-Original-To: cryptography@metzdowd.com
Date: Fri, 8 Jul 2005 15:57:33 +0100
From: Edgar Danielyan <e.danielyan@gmail.com>
Reply-To: Edgar Danielyan <e.danielyan@gmail.com>
To: cryptography@metzdowd.com
In-Reply-To: <87eka9fjgl.fsf_-_@snark.piermont.com>
Yes. And it will not happen. The cost and hassle of introducing such a
system will be so high that it wouldn't make sense financially, at
least not in the foreseeable future. The banks and other credit card
issuers accept that there are some losses they will have, they try to
minimise/control them and offload a portion of the remaining risk to
cardholders, merchants and insurance companies. The world is perfect
<g>
> A system in which the credit card was replaced by a small, calculator
> style token with a smartcard style connector could effectively
> eliminate most of the in person and over the net fraud we experience,
> and thus get rid of large costs in the system and get rid of the need
> for every Tom, Dick and Harry to see your drivers license when you
> make a purchase. It would both improve personal privacy and help the
> economy by massively reducing transaction costs.
>=20
> Perry
>=20
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