DigiCash agreement with Deutsche Bank

[minow@apple.com (Martin Minow)]

According to an article in a Swedish newspaper, Svenska Dagbladet
(http://www.svd.se/svd/ettan/ettan.html), DigiCash has closed an
agreement with Germany's largest bank, Deutsche Bank, that will
permit commerce on the Internet using digital cash.

The system will be tested first internally within Deutsche Bank to
check the security of the system, followed by a limited rollout
this autumn, with major distribution expected early next year. A customer
of the bank can "click on the DigiCash icon and confirm the amount of
German Marks required. The digital money is automatically downloaded
to the customer's computer and stored on disk in various amounts."

To purchase something from a homepage, the customer's computer sends
"digital cash" to the seller. The seller confirms via the bank within
two seconds that payment was made.

Translated (quickly) and summarized by

Martin Minow
minow@apple.com