(Just about caught up to 2 week's worth of cypherpunks... That 'J' got quite a workout...) In article <199601031925.NAA02085@proust.suba.com>, Alex Strasheim <cp@proust.suba.com> wrote:
What does it take to be called a bank?
Is it necessary to be called a bank? I've got a storefront in Chicago. What would prevent me from opening up a Mark Twain account and buying and selling ecash on floppies, in person? Do account holders have to agree not to do that before Mark Twain gives them an account? Is it illegal?
The currency exchange model almost seems more appropriate for most users than the bank model.
Isn't that what Sameer announced in his latest(?) press release? c2.org has a MT account. c2.org customers don't. The customers receive ecash payments from the Net (for accessing their |<00|_ web pages) and give the payments to c2.org, which deposits them in its MT acocunt, and credits the customer (minus a percentage? Lower than the customer would otherwise get from MT, but higher than c2.org (a merchant) is charged?). Did I get that right? - Ian