Re: ecash Press Release

[Sandy Sandfort <sandfort@crl.com>]

C'punks,

Stop!  Unless you know what you're talking about, there is really no 
reason to post about this thread.

On Fri, 27 May 1994, Rolf Michelsen wrote:

> . . .
> Here I think we are nearing the real issue.  We agree that all electronic 
> cash schemes require clearing, yes? . . . The DigiCash 
> scheme probably is *great* but it won't be *usefull* by everybody in an open 
> system before a clearing organization exists.  Due to gouvernment 
> regulations etc a clearing system is not trivially implemented. . . .

Wrong.  I thought Perry was quite clear on this.  A clearing "system" is 
anyone or anything that will clear a transaction.  Any bank that issues 
and/or accepts digital cash may *clear* it.  Folks, we've been through 
this before.

You get paid some digital money.  You deposit it to your account at the 
1st Digital Bank and Grill.  You go to the store and buy a shirt.  You 
pay using the VISA card issued to you by FDB&G.  Need some cash?  Take 
your FDB&G ATM card and go to any cash machine displaying the Plus logo.  

Simple isn't it?  I don't want to have to explain this again.


 S a n d y