Paul Robichaux writes
I'm sure that the design of a robust, usable [clearing] system is nontrivial, and I don't mean to imply that it is. I just don't believe that a tool the size of Fedwire and the existing bank architectures are, or will be, required.
The tools will be vastly simpler and smaller than Fedwire, etc but the system will be vastly larger an more complex than Fedwire etc, because "the system" will consist of many diverse people using these tools in diverse ways for diverse purposes. Attempts to design an all encompassing well organized system run counter to the way the internet works and are therefore likely to fail. If it does not work by spontaneous order, it probably will not work. Regrettably, there is an obvious conflict between full and true anonymity, and spontaneous order. On the other hand, absent a centralized system, anonymity is less critical. -- --------------------------------------------------------------------- We have the right to defend ourselves and our property, because of the kind of animals that we James A. Donald are. True law derives from this right, not from the arbitrary power of the omnipotent state. jamesd@acm.org