Mondex and currency exchange (Was: An article for Wired magazine)
Jason L Tibbitts III
tibbs at sina.hpc.uh.edu
Wed Aug 30 00:21:04 PDT 1995
Pardon me for being behind; I'm catching up with 1500 cypherpunks
articles... I was skimming and came upon the following:
>>>>> "JM" == Jon Matonis <74774.3663 at compuserve.com> writes:
JM> Mondex in the UK currently has official government units of account
JM> digitally represented for their Mondex card trial in Swindon. They
JM> have also announced that in the future this card will hold up to five
JM> "official" currencies.
I'm not sure how Mondex works, but if currency conversion is made easy
doesn't this have an interesting effect on the currency markets? If I can
have my machine follow micro changes in the markets and convert my money
around instantaneously without going through a middle-man then things could
get interesting. Then again, I'm really nieve when it comes to currency
exchange.
Please show me the flaw here.
---
Jason L. Tibbitts III - tibbs at uh.edu - 713/743-8687 - 221SR1
System Manager: Texas Center for Advanced Molecular Computation
1994 PC800 "Kuroneko" DoD# 1723
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