Re: Digital Cash

[mpd@netcom.com (Mike Duvos)]

> How does the 'tamperproof' nature of the software help at all?
> It's still possible to double-spend in any off-line cash system
> by making multiple copies of the tamper-proof modules.. the only
> security provided is in obscuring the algorithm.

If multiple transactions involving the same instrument reveal the 
double-spender, then appropriate action may be taken.  One could
of course do the exact same transaction twice with the exact same person 
using identical copies of the tamperproof module, but that would
yield no more data than having done the transaction only one time, and 
certainly wouldn't create any additional value.

> Speaking of digital cash, many thanks to the author of the
> 'magic money' software.  I am in the process of integrating it
> with a local bulletin board, which should hopefully be available
> on the net sometime this summer.  

One nice application of Magic Money would be to purchase subscriptions 
and other services from a BBS.  It is often highly inconvenient to have 
to mail in a payment, and if you are paying for something in another 
country, sending something that can be cashed overseas.  Digital Cash
would solve all these problems.

-- 
     Mike Duvos         $    PGP 2.3a Public Key available    $
     mpd@netcom.com     $    via Finger.                      $