[Webfunds-users] recent questions

Thu, 05 Apr 2001 12:03:03 -0400

-------- Original Message --------

[snip]

> I was intending to try buying some DigiGold when I was sure it
> was working.  I am reluctant to use anything with real value
> until then.

Oh, well what you want is some Glitter, which has no value:

This is a payment for gl1 10.0
from Sultan of Swing (b805a24db2fd7d7aff5fbb760d9f2728468d75ef)
to   <OPEN>

[snip :]

There is a Glitter market in pints of beer, if I recall
correctly...

> (1)  May I presume it is possible to update to a
> new version of the software without disrupting any stored
> value?

That's correct, we generally maintain compatibility for a
long time.  Otherwise it is not money :)

> (2)  Also is such value and the keys stored in such a
> way that niether can be stolen via trojans or other internet
> attacks?

Fundamentally, no.  With a software implementation on a
Windows machine, it is impossible to defend against a
trojan or general internet attack.  If you were to use
another OS without any Microsoft software, or you were
to use a trusted platform with only WebFunds on it, then
you could consider it safer.

(There are very few viruses for other OS, etc.  I use
Unix myself, and many people use Macs, but even Macs
now come with a lot of Microsoft stuff.  Luckily, most
viruses are written for Windows only though.)

The problem we face is that if you are hosting Microsoft
product on the same machine, then we are always vulnerable
to a trojan, as no matter what encryption we use, the trojan
can always replace the entire program and pretend to be
WebFunds.

In the future, we will be working with bigger customers to
develop WebFunds on palmtops, as the only application on
the platforms.  That would give us more security.

It's quite a difficult problem:  smart cards don't help,
and you are as much vulnerable if you were using Internet
banking as with WebFunds.  It is one of the industry's
dirty little secrets -- no matter what you are doing, if
you are doing it on a windows machine, you have little or
no security if someone decides to attack you.

> >Oh, also the latest Trader won't work with the latest WebFunds,
> >you can't add the contracts :(  That one's a bug!
> 
> Yes...  I think that is my problem.  I can't seem to find a
> source for an older version of WebFunds so I guess I'll have
> to wait for the bug to be fixed.

Right, I've got to get a release out some time soon, but
am bogged down on other things at the moment.

> If I understand correctly you are providing issuance servers
> for both DigiGold and Hansa Dollars.  Is this a more general
> service?

Issuance servers are run as a service, yes, although it is
rather expensive.  The business of issuance is certainly a
serious business, not cheap, so I wouldn't call it a "general
service" in the sense of retail.

> Also, are stock type instruments functional yet?

Stock, as in shares, is functional, but there are no shares
on issue available to the public.  The main thing there is
that issuance of shares outside the domain of a recognised
stock exchange is frowned upon by the various regulators.  We
are working with a group to set something up there.

-- 
iang