TAG_ent

[jya@pipeline.com (John Young)]

   09-21-96, MiPa: 
 
   Trusted agents for open electronic commerce (Assignee -- 
   Citibank, N.A.) 
 
   Abstract: A system for open electronic commerce having a 
   customer trusted agent securely communicating with a 
   first money module, and a merchant trusted agent securely 
   communicating with a second money module. Both trusted 
   agents are capable of establishing a first 
   cryptographically secure session, and both money modules 
   are capable of establishing a second cryptographically 
   secure session. 
 
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   http://jya.com/tagent.txt  (3 kb) 
 
   TAG_ent 
 
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   Reuters, 9-19-96 -- It will be 50 to 70 years before the 
   majority of people do their business electronically, 
   Citicorp Chairman John Reed told a conference on 
   electronic money and banking. Issues related to privacy 
   and security must be resolved for electronic banking to 
   take off. Citicorp currently considers the Internet 
   off-limits as a place to offer banking products until the 
   security issues are solved, he said. "The Internet is 
   fundamentally flawed in that regard right now," Reed 
   said. "At this moment in time at least, we at Citicorp 
   would feel very uncomfortable accommodating any 
   transactions on the Internet," he said.