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: [EMAIL PROTECTED]> 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' --------------------------------------------------------------------- The Cryptography Mailing List Unsubscribe by sending "unsubscribe cryptography" to [EMAIL PROTECTED]