What are the flaws with FV payment system?

[Kip DeGraaf <kip@monroe.lib.mi.us>]

I only received this an hour ago.  I would very much like to attend, but 
can't put my fingers on the detailed analysis of FV's flaws in their 
system, which I would like to bring up in person at this seminar.  

Could someone please point me in the right direction?

---------- Forwarded message ----------
Date: Thu, 10 Oct 1996 09:51:56 -0400
From: Sue Davidsen <davidsen@umich.edu>
To: michlib-l@mlink.hh.lib.umich.edu
Subject: Seminar Announcement

Commerce on the Internet
7:00 PM Thursday, October 10, 1996
Room N130 New Business Building, MSU

Dr. Nathaniel Borenstein, Chief Scientist, First Virtual Holdings, Inc., is
known worldwide as a leading developer of Internet technologies, including
the MIME standard and the First Virtual Payment System.

In this presentation on commerce on the Internet he will discuss:

� The limitations of current encryption schemes
� The technical aspects of the First Virtual payment scheme
� The future of commerce on the Internet

Dr. Borenstein contributed to the development of numerous Internet
technologies  including the MIME standard (used for email attachments
and Web content typing), Andrew, metamail, ATOMICMAIL, and Safe-Tcl.
Dr. Borenstein devised the First Virtual payment system, a popular
mechanism for conducting commerce on the Internet. 

[a lot of cute biographical details left out, I'm not impressed]