TJ,
The methods described in the press release infer the immediate transfer of value for content. Without this, there would in fact be no way to enforce the remuneration for the use of the content. As is done today on the Net with shareware software, people frequently try software that is in many cases superior to commercial software that you purchase in the store. The difference here is that the store enforces a policy that once you open the shrink wrap or the envelope that contains the disk, it is non-refundable. With shareware, there is no way to enforce the collection or transfer of funds, even though it continues to be used regularly beyond the trial period stated in the license.
The whole point of this initiative is to facilitate the collection of funds once the electronic "shrinkwrap" has been removed. In other words, it is not the form but the function that is addressed.
A token is actually like the serial number on a dollar bill. It contains certain information about the transaction that makes it uniquely identifiable for the life of that transaction. It is as though a "fingerprint" is generated for each transaction.
The ELSI concept is not unlike other digital cash schemes that are currently under consideration. The ELSI is simply acting as a trusted third party, similar to the way the Federal Reserve Banks act as a trusted third party for banks. The difference here is that we are talking about large scale, public microtransactions as opposed to predictable, private bulk transfers. [Picture raindrops in a steady rain with occasional downpours (microtransactions), vs. controlled releases from a reservoir (bulk transfers.] It requires a completely different technology to implement.
For an EXCELLENT reference of digital cash schemes, see:
w3.org |
