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Re: e$: The Book-Entry/Certificate Distinction

At 3:53 PM 8/23/95, Robert Hettinga wrote:
>At 10:02 AM 8/23/95, Perry E. Metzger wrote:
>>Actually, what you've just described is general commercial paper, not
>>just a bond. Anything that lists a sum certain in money to be paid on
>>a date certain (with various other parameters, too, like a place) is
>>negotiable commercial paper. Checks, notes, and other instruments are
>>all commercial paper. They are not, by the way, certificates in the
>>sense that I suspect you mean.
>I really don't know. If a digital personal debt certificate isn't a bond,
>but is a subset of commercial paper, we may be quibbling about definitions,
>like Tim was saying.

Whoah, there!

I wasn't saying we were "quibbling" about definitions, I was saying that
different people have different names for things and different
interpretations, and that it behooves us to figure out what the real
definitions are, the standard names, and not invent new names when existing
names will do.

And that one benefit of class libraries for the "things" of commerce,
finance, crypto, etc., may be make it clearer what is being described.

Just my two "aptical bearer-verified physico-tokens."

--Tim May

Timothy C. May              | Crypto Anarchy: encryption, digital money,
[email protected]  408-728-0152 | anonymous networks, digital pseudonyms, zero
Corralitos, CA              | knowledge, reputations, information markets,
Higher Power: 2^756839      | black markets, collapse of governments.
"National borders are just speed bumps on the information superhighway."