NODE a161b751Re: Electronic Banking
tony@morgan.demon.co.uk (Tony Kidson)Thu, 26 Nov 92 01:30:46 PST
In message <9211252219.AA00550@netcom.netcom.com> you write:
>
> Warning! Recently, a bunch of bowlers (women, no less) were busted for
> illegal gambling because of their "pot" they were bowling for. After
> much public outcry and laughter at the authorities, the charges were
> either dropped or reduced. I mention this because casual bowlers evoke
> sympathy, hackers and cypherpunks do not.
Using the net, the 'banker' could easily be 'offshore' and not
subject to US law in these matters. After all the internet
reaches into Canada and obviously (from my point of view) to the
UK. I think a more real problem with anonymous banking, is not
one of 'trust' in the 'banker' but in his net access. What do you
do when your banker, for whatever reason, becomes unreachable?
Regards
Tony
------------------+-------------------------------+--------------------------+
| Tony Kidson |`morgan' is an 8MB 486/33 Cat-| Voice +44 81 466 5127 |
| Morgan Towers, |Warmer with a 670 MB Hard Disk.| E-Mail |
| Morgan Road, |It resides at Morgan Towers in| tony@morgan.demon.co.uk |
| Bromley, |Beautiful Down Town Bromley. | tny@cix.compulink.co.uk |
| England BR1 3QE | -=<*>=- | 100024.301@compuserve.com|
+=================+===============================+==========================+
NODE 256b1e70Why electronic banks should be Redundant & Distributed
yanek@novavax.nova.edu (Yanek Martinson)Thu, 26 Nov 92 08:04:46 PST
> UK. I think a more real problem with anonymous banking, is not
> one of 'trust' in the 'banker' but in his net access. What do you
> do when your banker, for whatever reason, becomes unreachable?
The best banker deamon would run multiple copies on widely separated hosts/
networks, and keep each other up to date on accounts/balances.
They would be logically one entity, by sharing crypto keys.
So if one is cut off from the net, or even destroyed, you just send your
messages to one of the others.
When it comes back up, the others update it with current info.
Somewhat similar (not exactly, since they do not communicate to each other)
existing system is archie. Imagine that your life or work depended on
constant access to archie. When there was only one archie@quiche.mcgill.ca
you could have said "What do you do when the archie, for whatever reason,
becomes unreachable?". Now that there are many archies, the simple answer
is use one of:
archie.sura.net (USA, Mexico, etc)
archie.mcgill.ca (Canada)
archie.funet.fi (Finland/Mainland Europe)
archie.au (Australia/New Zealand)
archie.doc.ic.ac.uk (Great Britain/Ireland)
How likely do you think ALL of these widely separated entities could be
simultaneously destroyed/disconnected?
--
Yanek Martinson mthvax.cs.miami.edu!safe0!yanek uunet!medexam!yanek
this address preferred -->> yanek@novavax.nova.edu <<-- this address preferred
Phone (305) 765-6300 daytime FAX: (305) 765-6708 1321 N 65 Way/Hollywood
(305) 963-1931 evenings (305) 981-9812 Florida, 33024-5819