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To: smolejv@gmx.net who wrote (12836)	1/7/2002 12:05:05 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

DJ, the certifying authority would be the register of ownership, same as certifying authority now for shares is held by a registration authority. I imagine that when you want to send me money, which is a very good idea and you can already do it via PayPal or just write me a cheque, you would click on your gadget, which would inspect your Iris, fingerprint or voice, then follow your instructions to transfer 1q to me. You'd tell your gadget which recipient you want the money to go to and the device would rush off to cyberspace, check with the managing servers that there is indeed that recipient as identified and that it's a 'good to receive' account [not banned by the FBI for being an Osama account or a 'proceeds of crime' account or under some other restriction]. The server would then debit your account 1q and deposit it in my account. Backup servers around the world would duplicate the transfer and confirm to our devices that the transfer was done, altering their balances accordingly. Then report to government authorities because many governments would demand that they know who the heck is moving money around the place. But I suspect a lot of electorates will vote that the bloody government keep their greedy paws hands offa our money and they are NOT to know who the heck we are sending money to. Simple! Zero cost [almost]. Secure. Instant [almost]. No burglars. No hanky-panky. I can't really see a role for governments in the process other than as enforcers of contract, prosecutors of fraud and as protectors of person and property. The Q is a certitude. I suppose MSFT's PASSPORT might be a precursor. There'll be a lot of competition as with any gold rush. Mqurice