Golbal Econ.

[p.v.mcmahon.rea0803 at oasis.icl.co.uk]

> I would like to help get an internet economny going! For the internet
> to become a source of greater revenue I'd like to see a system that 
> can securely make business transactions that we are all happy with. 
> The amounts should be small transactions compaired with selling a car, 

All payment mechanisms require a basis of trust - so that the seller knows
s/he will get paid - and hence rely on trusted third parties (governments,
banks, charge card company etc), and/or need to be supported by specific
explicit seller-buyer contracts. Current (commercial) electronic business
transactions are underpinned by contracts, and security mechanisms
appropriate to the risks associated with the carrier of the transaction.

An "internet economy" needs a basis of trust, as well as security
mechanisms appropriate for the current level of IP security. What basis
of trust do you envisage?

- pvm