A virtual Swiss bank for the rest of us, from Time/Netly News

[Declan McCullagh <declan@well.com>]

Sicherheit und Privat will be issuing digital cash, digital letters of
credit, and use a secret-sharing crypto app on a Pilot to handle stock
trading. A bunch of cypherpunk regulars, including Black Unicorn, are
involved.

Below is my writeup that's in this week's Time magazine. For details check
out my article in today's Netly News:

  http://cgi.pathfinder.com/netly/opinion/0,1042,1756,00.html

-Declan

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A VIRTUAL SWISS BANK FOR THE REST OF US

Time Magazine
March 2, 1998
Page 20

Got the urge for offshore banking but not the cash to try
it? Rather than saving up for a plane ticket to Grand
Cayman, check out a new online bank opening its virtual
doors this week. Sicherheit und Privat (Security and
Privacy) is an Austrian bank that offers encrypted
communications, digital cash transactions and a
privacy-protected MasterCard for a minimum deposit of
$1,000 (as opposed to $10K to $50K in a typical Swiss
bank). Could be just the thing for low rollers trying to
hide cash from a spouse's divorce lawyers--or the IRS.