The Eurodollar market got started because Russia feared arbitrary confiscation of its dollar bank accounts. In the West, we see governments arbitrarily and capriciously stealing financial assets. As a result first world banking no longer has a large advantage over third world banking. This will eventually inject serious money into cyberspace financial institutions -- once they exist, run smoothly, have credible audit trails and a reputation. At present it seems to me that unix machines on the internet are intrinsicly insecure -- the methods used to secure them are a collection of ad hoc patches. For example all unix machines are vulnerable to the trojan horse attack. (I expect the usual flame from Perry that I am stupifyingly ignorant and that that is all fixed or will be shortly -- no Perry it is not all fixed -- it cannot be fixed. The necessary fixes have to be designed in at the beginning.) In consequence finance software running on the internet is only acceptable for small time stuff. Windows NT is supposedly secure. Certainly its design makes it possible to write software that is intrinsicly secure, rather than creating a particular fix for each particular hole. The perimeter you have to defend is much smaller and easier to explore. On the other hand existing Unix security is probably adequate for immediately proposed uses of internet money -- selling beads and trinkets. --------------------------------------------------------------------- | We have the right to defend ourselves | http://www.catalog.com/jamesd/ and our property, because of the kind | of animals that we are. True law | James A. Donald derives from this right, not from the | arbitrary power of the omnipotent state. | jamesd@netcom.com