A virtual Swiss bank for the rest of us, from Time/Netly News
Sicherheit und Privat will be issuing digital cash, digital letters of credit, and use a secret-sharing crypto app on a Pilot to handle stock trading. A bunch of cypherpunk regulars, including Black Unicorn, are involved. Below is my writeup that's in this week's Time magazine. For details check out my article in today's Netly News: http://cgi.pathfinder.com/netly/opinion/0,1042,1756,00.html -Declan **** A VIRTUAL SWISS BANK FOR THE REST OF US Time Magazine March 2, 1998 Page 20 Got the urge for offshore banking but not the cash to try it? Rather than saving up for a plane ticket to Grand Cayman, check out a new online bank opening its virtual doors this week. Sicherheit und Privat (Security and Privacy) is an Austrian bank that offers encrypted communications, digital cash transactions and a privacy-protected MasterCard for a minimum deposit of $1,000 (as opposed to $10K to $50K in a typical Swiss bank). Could be just the thing for low rollers trying to hide cash from a spouse's divorce lawyers--or the IRS.
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Declan McCullagh