On Fri, Jul 05, 2002 at 03:13:05PM -0500 Jim ([EMAIL PROTECTED]) wrote: > In what respects would you have to trust the third party? > > > But you would have to trust the banker (the third party). As far as i > > know, currently you dont have to trust _anyone_.
I guess the real problem is that no matter what you do, electronic money transmission, or micropayment, or whatever, is just transferring real money. No matter what you do electronically, it all boils down to one thing: somebody "inserts" money into the system and somebody "extracts" it. In order to do that you have to indentify these two. So in this case you would have to trust the third party to: - really hand over the money to you - not hand over money to somebody who is not autorized to get it - keep you indentity secret and not abuse it (spam, etc.) The third party would have to identify you "in the real world" because at the two ends of the transmission, real money will change hands. So you have to trust this third party just like you trust your "real life" bank. For example would you trust the system if this "third party" would be Microsoft/Enron/<insert evil corporate here>? abli [EMAIL PROTECTED] _______________________________________________ Tech mailing list [EMAIL PROTECTED] http://hawk.freenetproject.org/cgi-bin/mailman/listinfo/tech
