'Debit' Cards

[Buster]

I'm trying to get my head around this, but it looks really interesting. Presumably a card, like a debit card, would be needed to make payments online and in the real world. If that is correct, how would the cards be filled?

[Jordan]

Great question     I don't know too much about the technology. I think that traditional cards at least just have a magnetic strip that encodes various numbers including the pin, account, routing, bank etc. and then the atm or pos system contacts the bank's server to get the rest of the info. Perhaps the newer cards with chips do the same thing but encrypt the pin? Maybe they do more? 

In any case, the Cyclos system already has a module that allows people with cell phones to connect directly and send transactions through their phones and I could imagine using a future cell phone/pda/computer to store/exchange digital dollars quite easily. 

Perhaps Paul will weigh in on his vision. 

[Paul Grignon]

As these Coins are just serial numbers representing delivery contracts, they could be stored on any secure physical media.  However, that would not be necessary nor desirable as all the features and the full security would only be realized if the Coins were stored in the Perpetual Data system.

Within this system, making a transaction would be almost exactly identical in user experience to using PayPal, just without PayPal.  All transactions would be inherently anonymous, untraceable, FREE, and instantaneous.

Paul