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Technology Stocks : WAVX Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: B Spears who wrote (7571)	6/25/1999 3:34:00 AM
From: REM55	Read Replies (2) \| Respond to of 11417

Dear Bob: I (we) appreciate your effort in providing an excellent summary of the S.F. "Roadshow". It is no simple task to record the massive amount of information that Steven can offer when describing the many business opportunities of WAVX. You did well in capturing the essence of Steven's remarks. One question for you....What was your gut feeling (in percentage terms)for the chances of WAVX being successful in implementing its business plan before you attended the meeting and your gut feeling afterward? Best wishes, REM55

To: B Spears who wrote (7571)	6/25/1999 11:58:00 AM
From: Sophie Janne	Read Replies (3) \| Respond to of 11417

Bob. Excellent notes. I am particularly intrigued by the Visa comment. I venture that NAble's work on SET is going quite well then. Bob, you wrote, "VISA Steven said something about VISA wanting to create an image of a VISA card on the EMBASSY system. Not sure what this is all about but it sounded interesting." Visa writes about SET, "A consumer's digital certificate is an electronic representation of his or her payment card." visa.com Is it clear to everyone else that "image" = "electronic representation"? If IBM is "working to make WAVE the standard in the industry" for secure transactions, IBM is a founding member of SETCo, NAble is an enrolled vendor for SETco, then it is possible that the EMBASSY NAbled platform could be used for more than just digital content purchases, but for ALL kinds of electronic purchases made online. The key is understanding what is required for a SET transaction and how IBM, Visa, and Wave/NAble can fulfill those requirements. I have taken this information from, visa.com There are four separate components required for SET specifications: 1. Cardholder "wallet" software: A consumer's digital certificate is an electronic representation of his or her payment card. It saves encrypted information about the cardholder, account, and certificate issuer. My Comment: According to Bob, "DIGITAL WALLETS Steven touched briefly on these and said that anyone with a digital wallet needs a secure place to store and and EMBASSY is just such a place. If they are all stored on a central server and that gets hacked.....well good bye charlie." Visa wants to "create an image of a VISA card on the EMBASSY system" and NAble is enrolled with SETCo for Cardholder wallet software, setco.org -- SET requires trust at the client. Wave/Nable's hardware provides the highest level of trust in the industry. 2. Merchant software: This software includes the technology required to communicate securely with cardholders and their financial institutions. My Comment: Guess who has an approved vendor component for Merchant Software. Yes, IBM does, setco.org 3. Payment Gateway server software: The payment gateway server translates SET transaction data from the merchant's financial institution into the format currently used for processing VISA transactions. My Comment: Guess who has an approved vendor component for Payment Gateway server software. Yes, IBM does, setco.org 4. Certificate Authority software: Financial institutions will use this software to enable cardholders and merchants to register their respective account agreements for secure electronic commerce. This software will also be used to issue the "digital certificates" to cardholders and merchants. These certificates consist of a set of electronic information, containing cryptographic keys and other data, that is saved by the cardholder's software in their personal computer for later use every time the cardholder shops using his computer. Certificates ensure that the participants in an electronic commerce transaction can trust each other. Certificates also contain the digital signature of both the issuing financial institution and Visa, enabling the merchant to know that the cardholder's card number can participate in a SET transaction. My Comment: What better place to store this data "saved by the cardholder's software in their personal computer" than in EMBASSY? And guess who has an approved vendor component for Certificate Authority software. Yes, IBM does, setco.org Is is clear to me that IBM and Wave have significant incentives to work together to provide the infrastructure for secure electronic commerce. Visa and Mastercard are demanding SET be the ultimate standard. Mark my words, Sophie