[118111] in Cypherpunks
RE: limits of contractual irrevocability (Re: e-gold isn't bearer(Re: e-gold: post confusion!))
daemon@ATHENA.MIT.EDU (Lucky Green)
Mon Sep 20 02:42:22 1999
From: "Lucky Green" <shamrock@cypherpunks.to>
To: "cypherpunks@Algebra. COM" <cypherpunks@Algebra.COM>
Date: Sun, 19 Sep 1999 23:23:23 -0700
Message-ID: <NDBBIFGOKODBCKDGJDKLEEEMCHAA.shamrock@cypherpunks.to>
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Reply-To: "Lucky Green" <shamrock@cypherpunks.to>
Adam wrote:
> Lucky gave an example of the internal transactions within large
> corporations (internal to the organization, payments between
> departments, and overseas offices) for services rendered. Lucky
> considered this a good market for anonymous ecash, because they are
> currently paying large amounts of money to banks for handling and
> forex fees.
Unlike others in this industry, I am not basing my claims on any unproven
assumptions how the market will react. Frankly, I am not making any claims
of my own at all. I am simply repeating what my multi-billion dollar
customers have told me. Take it for what it's worth.
Just as a minor clarification, if I used the term organization, I was not
exclusively referring to transactions occurring inside Widget International,
Inc. In the context of my original post regarding this topic made so many
years ago, I was referring to a, at times loosely, affiliated conglomerate.
One of the closest examples would perhaps be the US automobile industry.
Ford doesn't make cars. They assemble cars from components built by
thousands of contractors. It is in a similar context that my sources saw a
benefit for anon ecash. Furthermore, since these customers operate in the
financial, rather than the automotive, space, they have clients that voiced
a demand for anonymous ecash services.
So the benefit to these companies is twofold:
o reduce intra-conglomerate value transfer and settlement costs.
o offer innovative financial services to the marketplace.
Funny enough, I just finally found the time to read the book
"Cryptonomicron", which had been sitting on my bookshelf since publication.
The novel contains a paragraph describing a character that has billions of
dollars that he needs to deposit securely. This paragraph probably brings a
smile, or perhaps more likely a curse, to the face of every IBM mainframe
field service engineer that has ever been on duty in Asia in the weeks
before Japanese tax day. Well, not that any circumstances short of your own
death would serve to convince your boss to give you time off during these
weeks.
--Lucky
