From: | Jan-bart van Beek <flake@***.NL> |
---|---|
Subject: | Virtual money |
Date: | Thu, 26 Jan 1995 15:02:12 +0100 |
financial records.
1. There is no such thing as virtual money, all money there is today is
in some way backed by real assests, it may be gold, it may be vast
resources of oil or it may be land and structures. But every dime in your
electronic bank account is backed by something, and that something is
very real, not virtual at all.
2. The only thing your electronic bank account really means is a record
and proof that you actually own a bit of those vast resources.
So in contrary to what FASAclaimed -money in the future consists mainly
of data- there will be definetly, some form of hard currency backing your
account.
And now the crash.
No bank that's worthy of the name, is gonna trust a crash sensitive
system as a computer for it's sole proof of financial validity. They are
not only gonna keep a back-up system on computers of all of their records
in an off-line version, just to check if there isn't any frauding in the
system by an outside entitie. But they are also gonna keep extensive
back-ups of all their files on some trustable permanent carrier.
I agree that hard-copy isn't a very good choice, but things like CD-roms,
are already at this time used as such trustable carriers.
And cd-roms are not virus sensative, they cannot be altered, so why would
the financial world of the future, if they have any sense left, suffer
any hardship from the virus of 2029 ?
--------------------------------------------------------------
| Beware of what you ask for you may recieve it |
--------------------------------------------------------------
**** The Cornflake Killer Strikes again ****