Digital cash issues...
FutureNerd Steve Witham
fnerd at smds.com
Wed May 26 13:47:03 PDT 1993
> Regarding the issue of what to do under Chaum's scheme when someone double-
> spends a piece of digital cash & their identity is revealed... I don't think
> it's going to be a serious hindrance in the long term. ... Any credit card
> company, phone company, or other corporation that does a lot of billing
> already has staff dedicated solely to that function, with collection agencies
> providing a second tier of functionality for the tougher cases.
> Dr. Cat / Dragon's Eye / New traditions for the next century
Yes, but we would like to steer towards a world where no one you do business
with knows or can reconstruct who you are or where you live. "Collection"--
the whole idea of "billing," in fact--is a way of doing business that's rooted
in non-privacy. But also it's based on wanting to make transactions easier
for people in a world without easy electronic transactions, accounting,
budgeting, negotiation, reputations, etc. So maybe with these sorts of things,
billing would be unnecessary.
Anyway, thinking up variations on offline payment systems is a passtime of
mine. Situations where people can't be online with the bank are special
cases, so you can make up special-case solutions, like
o "Tokens" or gift certificates that you buy in advance, or
o Annonymous checks that expire and are refundable if the (specific,
annonymous) payees don't cash them in a certain amount of time.
Credit as it exists often seems like a trade with the devil of privacy
invasion. Jeez, what would the world be like without *credit cards* and
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