[12166] in cryptography@c2.net mail archive
Re: Micropayments, redux
daemon@ATHENA.MIT.EDU (R. A. Hettinga)
Mon Dec 16 12:36:58 2002
In-Reply-To: <5.1.0.14.2.20021216185028.02e44e30@frodo.hserus.net>
Date: Mon, 16 Dec 2002 12:19:32 -0500
To: Udhay Shankar N <udhay@pobox.com>, cryptography@wasabisystems.com
From: "R. A. Hettinga" <rah@shipwright.com>
Cc: Digital Bearer Settlement List <dbs@philodox.com>
As I've said here before...
At 6:51 PM +0530 on 12/16/02, Udhay Shankar N wrote:
> Peppercoin is
...Ron Rivest's random-settlement "lottery" payment protocol.
Essentially, you write 100000 checks for $100.00, and redeem one of
them, yielding an "expected" payment of a tenth of a penny.
You need very strong is-a-person digital signature credentialling,
just like checks. It's quite compatible with PayPal, etc., and so I
expect that that's part of their exit strategy.
If they could get plugged into the ACH/ATM network, it might work
there as well, so you could also sell it to banks, if they're buying.
Cheers,
RAH
--
-----------------
R. A. Hettinga <mailto: rah@ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
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