[46402] in Cypherpunks
Re: Starting an e-cash bank
daemon@ATHENA.MIT.EDU (Ian Goldberg)
Wed Jan 3 18:11:44 1996
To: cypherpunks@toad.com
From: iagoldbe@calum.csclub.uwaterloo.ca (Ian Goldberg)
Date: 3 Jan 1996 17:43:23 -0500
(Just about caught up to 2 week's worth of cypherpunks... That 'J' got
quite a workout...)
In article <199601031925.NAA02085@proust.suba.com>,
Alex Strasheim <cp@proust.suba.com> wrote:
>> What does it take to be called a bank?
>
>Is it necessary to be called a bank? I've got a storefront in Chicago.
>What would prevent me from opening up a Mark Twain account and buying and
>selling ecash on floppies, in person? Do account holders have to agree
>not to do that before Mark Twain gives them an account? Is it illegal?
>
>The currency exchange model almost seems more appropriate for most users
>than the bank model.
Isn't that what Sameer announced in his latest(?) press release?
c2.org has a MT account. c2.org customers don't. The customers
receive ecash payments from the Net (for accessing their |<00|_ web pages)
and give the payments to c2.org, which deposits them in its MT acocunt,
and credits the customer (minus a percentage? Lower than the customer
would otherwise get from MT, but higher than c2.org (a merchant) is charged?).
Did I get that right?
- Ian
