09-21-96, MiPa: Trusted agents for open electronic commerce (Assignee -- Citibank, N.A.) Abstract: A system for open electronic commerce having a customer trusted agent securely communicating with a first money module, and a merchant trusted agent securely communicating with a second money module. Both trusted agents are capable of establishing a first cryptographically secure session, and both money modules are capable of establishing a second cryptographically secure session. ----- http://jya.com/tagent.txt (3 kb) TAG_ent --------- Reuters, 9-19-96 -- It will be 50 to 70 years before the majority of people do their business electronically, Citicorp Chairman John Reed told a conference on electronic money and banking. Issues related to privacy and security must be resolved for electronic banking to take off. Citicorp currently considers the Internet off-limits as a place to offer banking products until the security issues are solved, he said. "The Internet is fundamentally flawed in that regard right now," Reed said. "At this moment in time at least, we at Citicorp would feel very uncomfortable accommodating any transactions on the Internet," he said.