* James A. Donald: > This not all that fatal, as the money is traceable, but it means that > the financial institution needs an apparatus to reverse cell phone > transactions, and that cell phone money is therefore soft on the may > scale.
This has been the case for giro payments for a while, and some national banking systems stipulate that *all* direct debit transactions can be rolled back for some time after the transaction. (Lines of credit automatically enforced by banking systems already take this into account, for obvious reasons.) So all this isn't as bad as it may sound. (The phone as a second factor is an endangered species, but for other reasons.) _______________________________________________ cryptography mailing list cryptography@randombit.net http://lists.randombit.net/mailman/listinfo/cryptography
