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At 2:41 AM +0200 on 10/19/99, Anonymous wrote:
> Both men have great
> and potentially world-changing technology, but both are holding it
> tight in the hopes of making money off it, and so far nothing is
> happening.
Which is why I started IBUC.
If you go look at the model we're going to use,
http://www.philodox.com/modelpaper.html, there's a box in the cash-flow
diagram which says "protocol inventor", getting paid, by the
trustee/custodian directly out of revenues on the reserve account, as a
part of the underwriting agreement.
If it's done that way, not only does a financial cryptographer who
invents a given bearer protocol get paid without having to be a software
company, much less a bank or credit card company, like DigiCash had to
try to do, but no software *developer* has to pay a royalty to the
inventor.
Can you say "open source", anyone?
;-).
And, it works because, like Willie Sutton said, banks are where the money
is. The trustee is the only place where you can not only validate the
cashflow of the system, but where you can extract any revenue which could
rightly be said belongs to the bearer protocol's inventor to begin with.
Certainly enforcing intellectual property rights in an environment where
open source is not just a good idea but a cryptographic, a literally
financial, necessity won't work any other way.
So, again, folks, if you know someone who's selling bits over the wire, I
want to talk to them.
Cheers,
RAH
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-----------------
Robert 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'
