[Webfunds-users] can systemics trader be used for hansa doller / digigold?

Fri, 30 Mar 2001 15:38:56 +0100

--On 24 March 2001 12:05 -0800 Vincent Youngs <vincent@ricochet.net> wrote:

> I am very new to webfunds wallet and systemics trader, and haven't really
> figured out how to use them yet, but I am very intrigued by what appears
> to  promise an easy way to set up trading between any two financial
> instruments (so long as they have a webfunds wallet contract).  Am I
> correct about this, that systemics trader will make it very easy to set
> up a  trading exchange between any two instruments?

As I understand it, it's like this.

Any financial instrument can be setup as a Ricardian Contract which can be 
used by WebFunds, so long as there is a Legal Issuer to stand behind that 
contract. (for example, the Digigold company, in the case of the DigiGold 
currencies)

WebFunds by itself can be used to make payments and deposits with that 
financial instrument.

A market can be mounted for any sets of Ricardian Contracts (e.g. gold 
against silver, palladium and platinum based on the DigiGold currencies) or 
gold against the Hansa dollar). But this doesn't just happen as a result of 
issuing the currency, the market has to be created and maintained.

To access this market, you need the Trader plug-in from Systemics along 
with WebFunds. Then you can trade on the market.

> And, more to the immediate point, how difficult would it be to set up a
> trading exchange between the Hansa dollar and digigold?  This would be
> an immense step forward for the entire e-gold community, to have a
> nasdaq like trading exchange between e-gold and dollars.  I guess the
> systemics trader software is still in alpha stage?  I wonder how soon
> might  we have a Hansa dollar / digigold exchange?

ah, now that question I can't answer. But yes, it would be interesting, 
wouldn't it?

Just in case there's anyone on this list who doesn't already know, my 
interest in all of this stems from the fact we are currently busy 
integrating support for the Systemics stuff inside our CashBox system, 
which will enable us to provide an API for the use of these Ricardian 
currencies within websites, in the same way that you can drive the E-Gold 
currency throught its Shopping Cart Interface (SCI).

So if anyone has plans to use WebFunds in connection with a website, please 
let me know, so I can give you advance notice of when we may have a beta 
version for trial.

Regards to all
Rachel