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

To: M. Frank Greiffenstein who wrote (2115)	5/16/1998 1:07:00 PM
From: 24601	Read Replies (2) \| Respond to of 11417

Doc: You labor under a few misapprehensions. First, ESD is electronic SOFTWARE distribution. But content other than software also can be distributed electronically. One example is plain old data. Thus, Wave is not limited to ESD. Second, the electronic distribution of software and other content is a subset of e.commerce. Third, e.commerce is not limited to the internet. That is the importance of distributed metering. It can function without a tether to the web (or to any network, for that matter). WaveEnabled content can reach users in any digital form: over the air, through a wire, or on physical media. Only occasionally must the user must go online, to replenish his WaveAccount. Accounts are settled and the WaveMeter is reset. Even your gas pump periodically squares accounts with its back office. Unlike electronic payment solutions (e.g., CyberCash), Wave's system based on the WaveMeter stands alone as a chip-based, media-independent solution for secure microtransactions in electronic content. This particular niche is not flooded with competitors. In saying this I emphasize the distinction between e.commerce in digital content and e.commerce in material goods. Wave is not in competition with solutions for e.commerce in material goods. The e.commerce that enables online purchases of shirts from L.L. Bean is no threat to Wave. That solution is merely a mode of electronic payment; the goods are delivered by UPS (or whomever). In fact, even Wave uses CyberCash to process its credit card transactions. (Ironically, those payment systems may eventually use the Wave system for security control and record management.) The Wave system enables the purchase of bits and bytes delivered over the air, on physical media, or by wire. It combines encryption and record-control capabilities to provide a comprehensive solution for the secure distribution of intellectual property to a consumer at a personal computer, set-top box, or other terminal. It enables microtransactions in digital content -- again, over the air, on pysical media, or by wire -- even when untethered to the web. I believe the Wave system stands alone as a chip-based, media-independent solution for secure microtransactions in electronic content. Wave's window on e.commerce is as broad as any. Best wishes.