At 4:39 PM 1/28/95, jpp@markv.com wrote:

...

Date: Sat, 28 Jan 1995 15:49:13 -0800 From: norm@netcom.com (Norman Hardy) [...] Selling Hat Checks: The bank will sell a hat check to anyone who will pay a negotiated price. The hat check specifies the secure hash of the data, the penalty to be paid upon failure to produce the data, and the cost of redeeming the data. The hat check is signed blindly by the bank and is a ^^^^^^^ bearer instrument. Any holder of a hat check can present the check along with the redemption fee and demand the data.

Why in the world would the bank want to sign blindly? The bank would be undertaking an obligation of an unknown nature. Would you sign a blank check? A blank contract? I wouldn't. .... You are right. I forgot that the blind signer knows nothing of what we signs. The protocol requirements seem clear but I lack a protocol. I think I have a fix but I will be more careful before I post.