[2914] in cryptography@c2.net mail archive
Re: IP: "CyberCash can't oust credit cards"
daemon@ATHENA.MIT.EDU (Robert Hettinga)
Tue Jul 7 13:37:04 1998
In-Reply-To: <v03130308b1c7c7a655e2@[24.128.118.45]>
Date: Tue, 7 Jul 1998 10:36:37 -0400
To: "Arnold G. Reinhold" <reinhold@world.std.com>,
Digital Bearer Settlement List <dbs@philodox.com>, cryptography@c2.net,
cypherpunks@toad.com
From: Robert Hettinga <rah@shipwright.com>
At 8:47 AM -0400 on 7/7/98, Arnold G. Reinhold wrote:
> Three orders of magnitude cost reduction as compared to what? I can
> believe that much improvement over running my credit card thru an imprinter
> and processing the paper slip.
Yes. SSL and HTML does that to paper, even telephone, credit card
transactions. As long as you're using the net anyway. :-).
> But I doubt you can get anything like1000X
> over SET, ugly as it is.
Actually, it's *SET's* burden to proove that it's 1000X cheaper (including
the cost of fraud) than SSL, the status quo ante of internet payment
systems.
I don't think SET is cheaper, much less three orders of magnitude cheaper,
than SSL.
Cheers,
Bob Hettinga
-----------------
Robert A. Hettinga <mailto: rah@philodox.com>
Philodox Financial Technology Evangelism <http://www.philodox.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'
The Philodox Symposium on Digital Bearer Transaction Settlement
July 23-24, 1998: <http://www.philodox.com/symposiuminfo.html>
