Re: Anonymous payment scheme

[Brian Lane <blane@seanet.com>]

On Tue, 3 Jan 1995, Bob MorrisG wrote:

> HH> So, you may be able to have a form of anonymity from the person you ar
> HH> transacting with, but I don't think you can be anonymous from the bank
> HH> and from the government.  And personally, I am more concerned about th
> 
> With a debit card you can't be anonymous, because your money resides in
> the bank.  With digital cash, and the ability to transfer money to
> another digital cash card via phone lines, I don't see how they can
> successfully trace everything.  They will try, no doubt.

  I don't see why a debit card couldn't be anonymous, even to the point 
of having no name, AND no picture on it. Yes, the bank has the money, but 
their only obligation is to dish it out to the vendors/ATMs that you have 
used your card with. Why should a bank care who you are once they have 
your money in the account.

  As to avoiding fraud with the card, is it really that huge of a 
problem? As long as noone copies the number(could go so far as no 
embossed number. Just a gloss black card with a hologram of a Bald Eagle 
on the front of it), and you don't lose the card how can someone use your 
account?

  I think that this anonymous debit card would be a good first step 
towards anonymous digital cash. You still couldn't exchange digital cash 
with your buddy in Taiwain, but it would work for converting to physical 
cash(Which I still like, and is the best anonymous cash around right now).

  Anyone here adept enough at finance to write a proposal for CitiCorp? :>
How would they make their mony off the cards? Annual fees, and vendor 
percentages I guess?

    Brian

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