[Mac_crypto] Open-Source Challenge to Proprietary Payment Systems

[R. A. Hettinga]

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Reply-To: <dgs@live.co.uk>
From: "Duncan Goldie-Scot" <dgs@live.co.uk>
To: "Bob Hettinga" <rah@shipwright.com>
Subject: FW: PELLE BRAENDGAARD THOUGHT YOU SHOULD SEE THIS
Date: Mon, 24 May 2004 16:45:09 +0100
Thread-index: AcRBpEFYK7FfvQcATyWv+jEEv7P6bQAAcpdA



-----Original Message-----
From: Sandy Sandfort [mailto:sandy@sandfort.biz]
Sent: 24 May 2004 16:32
To: dgs@live.co.uk
Subject: PELLE BRAENDGAARD THOUGHT YOU SHOULD SEE THIS

Hi Duncan,

This is what Pelle and I have been working on during the last 2-3 years.  I
think your readers will find it of great interest.

Regards,


 Sandy Sandfort

FOR IMMEDIATE RELEASE:

CONTACT:
Pelle Braendgaard
+1 512 692 6133  US
+507 263 0064  Panama

Open-Source Challenge to Proprietary Payment Systems

Panama City, Panama, 24 May 2004 - Developers put the final touches, this
weekend on the beta version of NeuClear, an open-source payment protocol and
infrastructure.  The beta version is on line
(http://bux.neuclear.org) and the developers are hoping for feedback from
the technology community.  Once the beta phase is completed, NeuClearin
cooperation with VERAX Inc.will deploy their first production services.
These will be NeuClear-based systems designed to revolutionize third-world
micro-lending projects.

According to Pelle Braendgaard, NeuClear's lead developer, We want NeuClear
to be the Skype of payment systems.  NeuClear will change everything from
micro-lending to online payments to wire transfers.  We even intend to offer
an inexpensive alternative to Western Union and MoneyGram.

NeuClear is an open-source protocol for processing payments, exchanges and
other business transactions.  It is intended to replace today's
non-interoperable, proprietary, payment systems.  NeuClear differs radically
from these old legacy systems by creating an environment of unprecedented
transparency--including the ability to monitor any transaction in real-time
and to archive and later audit, every step of every transaction.

The first company to use a NeuClear-based system for commercial transactions
will be VERAX Inc.  VERAX will also help NeuClear provide free assistance to
micro-lending projects to streamline operations by eliminating their back
offices.  It will also prepare them to participate in VERAX's
Micro-Exchange, an on-line secondary market where investors can trade
micro-loan packages and micro-fund investments.

ABOUT NeuClear - NeuClear was largely developed by Pelle Braendgaard with
the help of other dedicated volunteers.  It is released under the Lesser Gnu
Public License.  For more information about NeuClear, visit the NeuClear
website (http://neuclear.org/).

ABOUT VERAX Inc. - VERAX is an alternative secured payment system, primarily
intended for use on the Internet, but with the ability to support many other
market applications.  Some of its initial applications will be to provide a
stored-value payment system for inexpensive funds transfers, Internet
payments, prepaid telephone and
Internet payment cards and brick-and-mortar payment services.   For more
information about VERAX, visit the
VERAX website (http://veraxpay.com/).

###



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-- 
-----------------
R. A. Hettinga <mailto: rah@ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'