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CHA_cha
Worth Magazine, October, 1995, has a longish, easy-reading,
supportive article on David Chaum and digital cash.
Virtually alone among E-money thinkers, Chaum insists on
creating anonymity for all transactions -- building a
tamper-proof system that works just as "real" cash
always has, from cowne shells to $100 bills. The key, he
says, is this: Without the spender's say-so, no one
should be able to trace who paid whom for what, whether
a transaction takes place online or in a swipe of a card
at a coffee shop. It's a libertarian approach in tune
with Chaum's roots in freewheeling communities such as
Berkeley and Amsterdam -- but it is anathema to control
freaks like the FBI, the IRS, and corporate information
marketers.
Chaum says every digital-cash system but his has the
potential to be abused or compromised -- and the math
seems to bear him out. His competitors, however, insist
their plans will prove plenty secure in practice. They
dismiss Chaum as an incorrigible purist, a brilliant
mathematician and innovator whose political views are
hindering his chances of success.
Like many in the digital elite, Chaum, an unabashed
utopian, does want to create a new world. To him,
electronic money is just the first consumer use of an
arcane field he hopes will transform society:
cryptology, the science of secret codes. In cyberspace,
these codes can prove a powerful way of shielding a
person's identity -- or of verifying an identity without
giving away extra information. Armed with personal
computers and good software, says Chaum, ordinary people
will finally have the power to do and say things without
being tracked by Big Brother.
CHA_cha (31 kb in two parts)