Micropayments, redux

R. A. Hettinga rah at shipwright.com
Mon Dec 16 12:19:32 EST 2002


As I've said here before...

At 6:51 PM +0530 on 12/16/02, Udhay Shankar N wrote:


> Peppercoin is

...Ron Rivest's random-settlement "lottery" payment protocol.

Essentially, you write 100000 checks for $100.00, and redeem one of
them, yielding an "expected" payment of a tenth of a penny.

You need very strong is-a-person digital signature credentialling,
just like checks. It's quite compatible with PayPal, etc., and so I
expect that that's part of their exit strategy.

If they could get plugged into the ACH/ATM network, it might work
there as well, so you could also sell it to banks, if they're buying.

Cheers,
RAH


-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
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'

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