[11788] in Commercialization & Privatization of the Internet
Re: Random Thoughts Regarding [cash]
daemon@ATHENA.MIT.EDU (Glenn S. Tenney)
Tue Apr 19 22:27:17 1994
Date: Tue, 19 Apr 1994 16:12:45 -0800
To: com-priv@psi.com
From: tenney@netcom.com (Glenn S. Tenney)
Digital Cash is actually a term coined by David Chaum many years ago (I
can't recall when, but I know it's been quite a few years). It refers
(overly simplified) to a mechanism that is digitally encoded (e.g. a
mag-stripe on a credit card or the chip on a smart card) but that allows
one to spend money like cash -- ie. it is accepted everywhere but is used
anonymously (ie. no trail, no identification of who spent how much on
whatever).
One implementation that he developed was in The Netherlands using some of
his patents. If I recall correctly, that system was smart-card based using
public keys to authorize / verify transactions.
---
Glenn Tenney
tenney@netcom.com Amateur radio: AA6ER
(415) 574-3420 Fax: (415) 574-0546
