Here comes more Ecash!!

Steve Koval (Steve_Koval@intuit.com)
Tue, 24 Oct 95 09:19:42 PST


Welcome to the future!

- ---------- Forwarded message ----------
Date: Thu, 19 Oct 1995 14:39:55 +0500

Confidential. Not for Public Release or Announcement.

DigiCash(TM) will announce its live electronic cash trial with a St. Louis
bank on Monday October 23rd, 1995. This historic event will be the first
real money electronic cash ever deployed on the Web or anywhere else in the
World. This announcement will receive significant press attention and I
want to include your company, along with other forward thinking players on
the World Wide Web.

Ideally, your web site would be Ecash(TM) capable and operable on Monday.
Given the low probability of getting up and running in short order, I
propose a joint press release detailing the future of the web and how much
more compelling it will be when real money is on the Web. As Barrett Strong
says in his song Money (That's What I Want):

Your love give me such a thrill,
but your love don't pay my bills
I need money

I want to include a list of sites using, or soon to be using, ecash in our
coverage along with the names and URL's of companies working towards that
goal. This is in addition to any company specific information you can
provide to identify and describe your company and its products or services.

For more information about DigiCash and ecash, point your browser to
www.digicash.com.

$ $ $

Ecash is designed and intended for low value (less than US$20)
transactions. Ecash is a bearer instrument which shares three important
properties with the cash in your pocket:

Finality: As with any bearer instrument (like cash), possession is ownership.

Privacy: Buyers know from whom they are buying, but the payment does not
identify the buyer to the merchant or to the bank.

Individual-to-Individual Use: No special status is required. Users need not
be MasterCard or Visa merchants.

Ecash is not just for buying. Ecash is also useful for paying out. From
games of skill to incentives or as a reward I expect to see web sites where
individuals receive as well as spend ecash. For example, your site could
offer small payments (say between $0.01 -- $1.00) as an incentive to fill
out forms and answer questions.

A recent Harris survey found that 48% of individuals do not mind giving
personal information to companies if they receive a special offer in
return. This is in stark contrast to the 70% of individuals surveyed who
had refused to answer a question from a company because they felt the it
was either too personal or had nothing to do with the transaction they were
attempting to complete.

The Net needs ecash to progress and thrive. I know ecash is catalytic to
the growth of the internet and your business.

Review:

* Ecash will be live and convertible to real money on Monday.

* Ecash will be available from a $1B+ bank in St. Louis.

* There will be lots of press coverage.

* I want to include you and your company as leaders on the Internet
and early adopters of secure transactional methods.

* Ecash is itself secure (See our web pages for more details). The
security of a five cent ecash payment is the same as that of a $100 million
S.W.I.F.T. payment.

* Our Ecash Experts will help you set up ecash on your servers. If
requested we will train you to be an ecash expert so you can assist your
clients.

Also note it is not our intention to stop or freeze our CyberBucks(TM)
trial.

http://www.digicash.com/

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