Journal of Internet Banking and Commerce

Vol 2 no 2, March 1997 (Part 2 of 2)

Feature Articles (Continued)

====================
From Cyberbucks to Cyberpunk: Tomorrow's Electronic
Commerce on Today's Mean Streets
http://www.arraydev.com/commerce/jibc/9702-12.htm
====================
By Walter A. Effross
Associate Professor, Washington College of Law, American University
Email: weffross@...
********
[Here are the first few paragraphs of the Web article which in
turn is excerpted from "Piracy, Privacy, and Privatization:
Fictional and Legal Approaches to the Electronic Future of Cash,"
the author's introduction to the American
University Law Review's forthcoming Symposium issue. (See
Conference Ads below for registration information)]

A decade ago the popularity of "feudal life" scenarios in
science fiction and fantasy literature was attributed to the fact
that in such settings "money never has to change hands." In
Trillion Year Spree (1986), Brian Aldiss and David Wingrove
asked,
[w]hen did a fantasy hero ever fish a ten dollar bill from
his pocket? When did milady seek alimony? When were
travellers' cheques needed in Atlantis or Cathay? When was
the lead villain simply slung into prison for debt? When
did the mortgage ever fall due on one of those labyrinthine
castles? [p.280]

However, even as these questions were posed a new genre
celebrated the cash, criminality, and computerized commerce of a
future that has become today's headlines. Indeed, "cyberpunk"
denotes more than science fiction that emphasizes the interaction
of people with computers; according to a best-selling non-fiction
work of the same name, it also refers to an individual who, like
the protagonists of these novels, "make[s his] living buying,
selling, and stealing information, the currency of a computerized
future." [Katie Hafner and John Markoff, Cyberpunk: Outlaws and
Hackers on the Computer Frontier 9 (1991)]. In both of these
senses cyberpunk's authors anticipated the challenges posed by
the increasing convergence of the banking, technology, and legal
communities.

If other fictional settings allow novelists to avoid mundane
financial transactions, cyberpunk not only confronts but glories
in the grim and gritty commerce of the street. Indeed, its heroes
can escape their physical and economic reality only by plunging
into "cyberspace," mankind's "consensual hallucination. . . [a]
graphic representation of data abstracted from the banks of every
computer in the human system." [William Gibson, Neuromancer 51
(1984)] It is in this alternate, electronic universe, where
multinational corporations hoard their data and financial
institutions their electronic cash, that cyberpunks practice
their esoteric digital deceptions.

==============
Data Warehousing, Electronic Commerce and Technological Learning:
Successes and Failures from Government and Private Industry and
Lessons Learned for 21st Century Electronic Government
http://www.arraydev.com/commerce/jibc/9702-14.htm
==============

By Elias G. Carayannis, PhD, MBA, BScEE
Program on the Management of Science, Technology and Innovation,
Department of Management Science,
School of Business and Public Management,
The George Washington University, Washington, DC 20052
Email: caraye@...
*************
(Excerpt from concluding section of Web article)

4. Lessons Learned and Recommendations for 21st Century Electronic
Government

The lessons learned for 21st century electronic government based on this
survey of government policies and industry practices in information
technology implementations are that the main challenges on the road to
electronic government are the following:
*Get top agency executives, not just IRM officials involved.
*Strong, consistent direction is needed in CIO appointments.
*Attention needed to building new IT skills, not just leveraging existing
ones.
*Besides government-wide efforts, OMB and agencies must keep focused on
internal implementation steps.
*Continue to emphasize an intergated, not selective management approach.
Congressional support and oversight is essential.
*Closely monitor the caliber and organizational placement of CIO candidates
for
departments and agencies.
*Focus on the evaluation of results.
*Monitor how well agencies are institutionalizing processes and regularly
validating cost, return, and risk data used to support IT investment
decisions.
*Get the right people asking and answering the right questions.

* * * * * * * *

From JIBC Contributing Editors

===================
Over the Water -- the View from the UK
By David G.W. Birch
http://www.arraydev.com/commerce/jibc/9702-18.htm
===================
(an excerpt from the Web article) ...
The Dog That Didn't Bark

... people are reportedly reluctant to use their credit cards over the Net
because of concerns about security. The principal concern would seem to be
that credit card numbers being intercepted while traversing the highways
and byways of the internet, yet to the best of my knowledge there is no
recorded case of a credit card number being stolen during transmission over
the internet ever. This is not just rare: it has never happened.

The few reported cases of hackers stealing credit card numbers involves
attacks on poorly configured retailer systems (magazine subscription
databases and the like). This is obviously the best way to get credit card
numbers. Why root through the billions of packets flowing around the Net on
the off chance you might find a credit card number when you can go to a
retailers system and find thousands of credit card numbers sorted,
organised and arranged (and with expiration dates and billing addresses).

I've used my credit card number over the Net many many times. In fact, I
did it last week when I emailed my credit card number to a software company
to pay for a CD ROM game I wanted. I wasn't in the least concerned about
hackers: after all, if the credit card number gets stolen, that's the
credit card company's problem, not mine.

Here's the apparent conundrum then: people read reports of ATM fraud all
the time, yet they use their ATM cards all the time. People never read
reports about credit card numbers being stolen over the Net (although they
do read lots of reports about how this might happen), yet credit card
transactions on the Net seem to be held back by fears about security. If
its not concerns about
security, then why so few apparent credit card transactions on the Net? It
seems to me there are two possible explanations, both equally plausible.
Either, credit card use on the Net is underreported, or (more likely)
people don't use their credit cards on the Net because theres no compelling
reason for them to do so.
...

==============
The Consequences of Electronic Delivery Channels
on The Retail Banking Industry
http://www.arraydev.com/commerce/jibc/9702-15.htm
===============
By Mauro Cipparone
Contributing Editor: Southern Europe
Email: mcippa@...
URL: http://www.geocities.com/WallStreet/2486/
***************

...What will retail banking be like in 15 years time ? Will banks
operate substantially differently from today ?

Today's banks offer substantially two
different types of services : money handling and a category which I
will call, for now, other services. Money handling comprises all those
services which are currently provided through current accounts :
crediting of one's salary, paying for shopping, paying bills, setting
up standing orders, sending money drafts and wire transfers, cashing
cheques. In brief, paying money and being paid money. 20 years ago the
payment industry was, to a large extent, the crux of banking. The
reason for this was mainly the physical nature of money. People put
gold, and then cash, in a bank because it was (and is) not safe to
simply keep it under the mattress, and because cash is bulky. It is
cheaper and safer to receive one's salary in a bank account than as an
envelope full of cash. It is cheaper to hand out a cheque or make a
wire transfer than to ship a bag of banknotes. Why banks ? Because the
handling of the money itself and of the millions of cheques and other
documents is very expensive, and requires large economies of scale.
However, today paper has been, to a great extent, already eliminated
from the payment system.

...
As a conclusion, we can say that the retail banking industry will be
significantly affected by the development of new electronic delivery
channels. Changes will be gradual but unavoidable. Banks will manage
to remain the most important financial institutions in the industry
only if they will be quick to adapt to the changes, thus avoiding the
migration of customers to new entrants.

===============
Some Excerpts from "INNOVATION"
http://www.arraydev.com/commerce/jibc/9702-04.htm
===============
From INNOVATION Editor and JIBC Contributing Editor John Gehl

Topics of the items posted this time include Web Sites for Buyers
(Rather than Sellers), Electronic Signatures with a Personal
Touch, Over the Chasm and Through the Tornado, The Globalization
of Everything, and The Secret Sharer.

==============
Electronic Commerce for Small to Medium Sized Enterprises
http://www.arraydev.com/commerce/jibc/9702-19.htm
==============
From Contributing Editor Mary-Anne Goldsworthy
(The Web article is the report of a study of electronic commerce needs
of small and medium-sized enterprises in Queensland, Australia.)
...
Recommendations

A number of recommendations are made for the IIB and selected
industry partners designed to assist Queensland SMEs to benefit
from electronic commerce and understand how electronic
commerce can open up new business opportunities for them
as follows:

* Determine EC interface standards for application software
* Establish an accreditation process for electronic commerce
technology and services to give confidence to that the
EC products and services were according to predefined
standards.
* Encourage EC software development by Queensland firms
* Facilitate Queensland based WWW services
* Establish and deliver EC awareness programs
* Establish Internet training and assistance services
* Encourage establishment of industry group EC communities
in Queensland
* Identify and support individual regional EC initiatives
* Ensure provision of a single face to Government through
the provision of a central electronic entry point to
Government Agencies and Services
* Establish a Queensland based Internet discussion group
* Develop an EC information pack for distribution throughout
Queensland
* Survey Queensland SMEs by region to gain a detailed understanding of
any specific regional EC issues that need to be addressed.


===================
Hettinga's Best of the Month
http://www.arraydev.com/commerce/jibc/9702-03.htm
===================
Submitted by our Contributing Editor Robert Hettinga as his choice
of best article of month found on Internet.

Email: rah@...
**************
Internet Auctions

>From Fred Hapgood hapgood@...

...The spread of auctions on the internet inspires one to wonder
if it might not be possible to use the net to replace flat
pricing in some sectors without paying with added time and
inconvenience. At the moment net auctions are confined to the
obvious: basically collectibles and resales of the sort that
appear in Want Advertisers. Would it be possible to sell
production items, new cars, hotel rooms, clothing, via auction?
Would both buyers and sellers have incentives to switch over from
fixed pricing?

...

Subject: Re: Auctions
Reply-To: hapgood@... (Fred Hapgood)

The assumption of the original post is that auction pricing is
socially better than flat-rate pricing because the information
you get from auctions is of higher quality. (I also assume that
everyone benefits from a smarter economy in the long run.) The
question was whether the net could in some fashion allow AP to
nibble around the edges of the sectors colonized by FRP,
particularly 'many of a kind' products (as opposed to 'one of a
kind') like cars or refrigerators.

The question is still open, but it's interesting that the auction
sites dealing in overstocks often sell several units of the same
item in parallel auctions (i.e., not as a single lot). One system
is to rank the bids and distribute items down the list until the
stock is exhausted. If there are N items the top N bids win.
There are others.

One benefit to buyers (so far as overstocks go) is the
satisfaction of getting the goods at about 25% of list price,
which means that the system is to some degree parasitic on FRP.
Another benefit is feeling that a price set by bids represents a
truer estimate of value than one set by vendor fiat. You have
more confidence that you are not being ripped off...

Of course sellers also have to feel they're making out -- they
have to have some reason to think their aggregate return from AP
will be higher than it would have been by setting a flat price.
This is easier to imagine with small lots of a dozen units but I
can sort of dimly imagine distributing an entire production run
this way. Again, the marketing edge is that buyers are more
likely to feel that a high price is legitimate.



====================
The GTPNET Phase II - Moving Contacts to Contracts
http://www.arraydev.com/commerce/jibc/9702-02.htm
====================
By Carlos Moreira
United Nations Conference for Trade and Development (UNCTAD)
Email: cmoreira@...

Carlos Moreira is Head of the United Nations Conference for Trade
and Development (UNCTAD) Trade Point Development Centre (TPDC)
which is hosted by the Royal Melbourne Institute of Technology
(RMIT). UNCTAD-TPDC is cooperating with RMIT to establish the
"Global Trade Point Network" presently in 134 countries. The
research work covers technical feasibility, cost effective
designs, "information highway" requirements and the modus
operandus to support the establishment of electronic information
processing, information infrastructure and electronic commerce
technologies to improve trade efficiency throughout the world.
*************
This report describes the UNTPDC Internet based technologies and
the performances on individual services (Mirror Sites, Incubator,
ETO system, Newsgroups, email switch) which contributed to make
the UNTPDC one of the most visited Trading Site on the Internet.
The UNTPDC Sites run what we believe to be one of the highest
volume web services on the Internet. All UNTPDC servers combined
currently take a total of between four and five million hits per
day (2 to 3 millions for ETO Newsgroups and 1.5 to 2 million for
the Web Sites), and this number continues to grow.

* * * * * * * *
!!!!!NEW!!!!!!

Case Studies

This new section will welcome "case studies" of products that have been
successfully applied in a real-life situation. If you or your company
would like to brag a bit or are quite proud of how well your product or
service did, then please send us an article for the "Case Studies" section.

The case study must of course have the approval of the site/product/service
owner and should not be too self-congratulatory. We'd like you to talk
about what you did right, what you did wrong and lessons learned.

===============
Case Study: Canada Investment and Savings Lays Groundwork
for Online Savings Bond Sales
http://www.arraydev.com/commerce/jibc/9702-09.htm
===============

The CIS Canada Savings Bond Site

In the summer of 1996, Canada Investment and Savings began
planning and development of a Web-based system for distributing
marketing information related to the annual fall Canada Savings Bond
sales campaigns.

The project was supported by the Bank of Canada with Web/Internet and
business development expertise provided by ARRAY Development
of Ottawa. Graphics were provided by the federal Department of Finance.

The site attracted 130,000 hits during the six-week
campaign and continues to receive about 1,500 hits per month.
Consumer comments have been very positive. A number of customers
submitted purchase applications on forms printed
from the Web site.

The Web site effectively complemented print and broadcast
advertising and sales support campaign conducted by Canada Investment and
Savings and the Bank of Canada. It offers email access to customer service
and
reassures financial advisors and bond sales personnel that their
information is correct and up-to-date. Attractions for consumers include a
convenient tool to calculate the value of their bond holdings at any
selected time and a form that simplifies record keeping.

Now that the basic structure and business processes are in place,
the site can be easily adapted to a variety of marketing
activities related to Canada Savings Bonds. In early 1997, for
example, the site was modified to support another successful marketing
campaign for Registered Retirement Savings Plans.



* * * * * * * *

Conference Advertising

*Purchasing on the Internet
International Quality and Productivity Center

Drive Costs Out of Your Purchasing Department is the topic of the
May 13 - 15 conference at the Holiday Inn Select in San
Francisco. Attend this conference to learn how to maximize your
electronic purchasing efficiencies through the use of Internet,
Intranet and private networks. Topics to be covered include:
steps to getting on line, integrating EDI and online purchasing,
purchasing card issues, etc. Presenters include professionals
from American Express, Wells Fargo Bank, Visa International, and
Boise Cascade Office Products Corp. For information/registration
call 1-800-882-8684, email to info@... or visit the IQPC Web
site at http://www.iqpc.com


Maximize the Benefits of Electronic Commerce is the topic at the
conference planned for the Toronto Colony Square Hotel May 21 to
23. Attend this conference to learn how to maximize your
electronic purchasing efficiencies and drive your total costs
down and visibility up. Topics to be covered include: steps to
getting on line, integrating EDI and online purchasing, securing
banking services, purchasing card issues, etc. Presenters will
include professionals from the Royal Canadian MInt, Cebra Inc.,
IBM Canada Ltd., NASA, McGill University Health Centre (Royal
Victoria Hospital) and GE Information Services. For
information/registration call 1-800-882-8684, email to
info@... or visit the IQPC Web site at http://www.iqpc.com

*****************
Contact communications@... for information about
advertising your conference in JIBC.
*****************


*Symposium on The Electronic Future of Cash, Washington College
of Law, Washington, DC, Friday, April 18, 1997.
The Washington College of Law and The American University
Law Review

The first panel, "The Technology of Electronic Cash,"
features Newsweek columnist Steven Levy; CyberCash general
counsel Russ Stevenson; Peter Wayner, author of Digital Cash:
Commerce on the Net; Gary Lorenz, General Manager of Diebold
Systems Campus Division; and a representative (invited) of the
National Security Agency. The panel will examine the operation
of stored value cards and encryption techniques and will include
a demonstration of a "cyberpayment" made with digital cash.

The second panel, "Commentary on the Regulation of Electronic
Cash," will bring together the authors of articles in the Law
Review's Symposium issue (provided, with additional materials, to
all registrants) to review and recommend regulatory efforts from
the viewpoints of academics, practitioners, bankers, and consumer
advocates. Panelists include: Professor Mark Budnitz, Georgia
State University College of Law; Richard Field, Chair, Electronic
Commerce Payment Committee, American Bar Association; Professor
Egon Guttman, Washington College of Law; Professor David Oedel,
Mercer University Law School; Simon Lelieveldt, Senior Policy
Advisor, Payment Systems Policy Department, De Nederlandsche Bank
(the Dutch Central Bank); and Brian Smith, of Mayer, Brown &
Platt.

Dr. David Chaum, founder and president of DigiCash, has been
invited to deliver a luncheon address.

The third panel, "The Perspective of the Regulators," features
leading regulators discussing the statutory and regulatory
approaches with which they are involved. Panelists include:
Thomas Baxter Jr., General Counsel, the Federal Reserve Bank of
New York; William Kroener, General Counsel, FDIC; Michael
Billsma, Acting Director, Community and Consumer Law, Office of
the Comptroller of the Currency; Scott Charney, Chief, Computer
Crime and Intellectual Property Section, Criminal Division,
Department of Justice; Paul Glenn, Special Counsel, Office of
Thrift Supervision; Stephen Kroll, Legal Counsel, Financial
Crimes Enforcement Network (FINCen), United States Treasury
Department; John Lopez, Counsel, Subcommittee on Domestic and
International Monetary Policy; and Lucy Morris, Assistant
Director for Credit Practices, Federal Trade Commission.

For a brochure and registration form, please call
Professor Walter Effross at (202) 274-4017, send e-mail to
futurecash@..., or see our Symposium website at
http://www.wcl.american.edu/pub/journals/lawrev/electronic_cash/conf.htm.



4. Administrative Notices

========================================
JOURNAL OF INTERNET BANKING AND COMMERCE
========================================
ISSN 1204-5357

Publisher Nahum Goldmann
ARRAY Development
Ottawa, Canada
Nahum.Goldmann@...
http://www.ARRAYdev.com

Chief Editor: Gordon Jenkins
JENKINS AND ASSOCIATES INC.
jenkins@...
http://www.gordjenkins.com

Managing Editor: Tom McKegney
Tom.McKegney@...
http://www.ARRAYdev.com


Contributing Editors:

In alphabetical order:
U.K. Editor: David G.W.Birch
David G.W. Birch is a Director of the UK consulting firm Hyperion,
which he helped to found in 1986. He provides analysis, creation and
facilitation expertise to clients, specialising in the field of electronic
commerce where he is recognised as one of the UK's leading consultants.
Prior to Hyperion, Dave spent several years as a consultant specialising
in communications after having graduated with a degree in Physics. Dave
has lived and worked in Europe, the Far East and North America helping
organisations ranging from SWIFT and AT&T to Mondex and the Indonesian
PTT: he therefore has a broad knowledge base and is able to synthesise
experience from a variety of market sectors.

Southern Europe: Mauro Cipparone
Mauro Cipparone has recently graduated summa cum laude at LUISS
University, Rome, with a thesis on the economic consequences of Internet
payment systems. He collaborates with the computing center of LUISS
University, Rome, and with the association "Liber Liber," occasionally
giving lectures on Internet payment systems.

Legal Editor: Richard Field
Richard Field is an attorney and legal consultant in Cliffside Park,
New Jersey, U.S.A. He chairs the Electronic Commerce Payment Committee of
the American Bar Association.

Innovation Editor: John Gehl
John Gehl produces the weekly electronic newsletter INNOVATION with
partner Suzanne Douglas.

Australian Editor: Mary-Anne Goldsworthy
Mary-Anne Goldsworthy is Executive Officer of the Centre for
Electronic Commerce at Monash University, Gippsland Campus,
Churchill,VIC
3842 The CEC is a national independent consulting, training and research
centre for electronic commerce services to assist industry and government,
and specifically SMEs (small to medium enterprises).

Security Editor: Bob Hettinga
Robert Hettinga rah@... 44 Farquhar Street, Boston, MA
02131 USA

Eastern Europe: Will Keenan
Will Keenan is Regional Advisor on Trade Facilitation with the UN
Economic Commission for Europe in Geneva, Switzerland. Any findings,
interpretations and conclusions expressed in JIBC are personal and should
not be attributed to the UN/ECE.

UNCTAD Editor: Carlos Moreira
Carlos Moreira is Head of the United Nations Conference for Trade and
Development (UNCTAD) Trade Point Development Centre (TPDC) which is hosted
by the Royal Melbourne Institute of Technology (RMIT). UNCTAD-TPDC is
cooperating with RMIT to establish the "Global Trade Point Network"
presently in 134 countries. The research work covers technical
feasibility, cost effective designs, "information highway" requirements
and the modus operandus to support the establishment of electronic
information processing, information infrastructure and electronic commerce
technologies to improve trade efficiency throughout the world.


JIBC Postmaster/Webmaster
Phil Beauchamp, ARRAY Development
pbeaucha@...

=================
JIBC ANNOUNCEMENT
=================
The goal of this publication is to inform executives,
professionals, entrepreneurs, government personnel and other key
players on principal developments and trends in the rapidly
evolving electronic commerce area all over the World. This free
online Journal is a way to keep in touch, to share information,
and to establish business contacts in the area of electronic
commerce and banking on the Internet.

The Journal of Internet Banking and Commerce (JIBC) is primarily
devoted to important announcements, refereed original articles,
guest columns, significant feature presentations from other
publications, as well as surveys, reviews, and letters to the
editor. We will try to keep away from technical discussions and
leave them to other specialized lists. Our Journal will be
issued every two months and will definitely focus on quality, not
quantity. We will be editing, filtering and summarizing, to
provide our busy readers with only substantial information. We
will do this by distributing only abstracts and summaries in the
email portion of the Journal. The complete articles and columns,
as well as background information, will be placed on our Web site
(http://www.arraydev.com/commerce/JIBC/).

Join our Journal and learn about the trends in electronic
commerce. We promise not to get too "techie." Not too many
fights but lots of good discussion. We need your articles, your
email, your contributions and discussion. Your feedback on
articles should be directed to the Editor, Gordon Jenkins. Direct
general comments about the publication to the Publisher, Nahum
Goldmann. You can email us directly or use the Questionnaire that
we keep on the JIBC Web site.

============================
SPONSORS/ADVERTISERS WELCOME
============================
The support of commercial sponsors and advertisers is
important. Please mention JIBC to any firm or organization you
think would be interested in reaching the high level readership
JIBC is attracting. For information about advertising types and
rates, email to communications@.... Information
is also available on the JIBC Web site at
http://www.ARRAYdev.com/commerce/JIBC/private/index.htm

=========
COPYRIGHT
=========
The Journal Of Internet Banking And Commerce is Copyright (C)
1996-97 by ARRAY Development, Ottawa, Canada. All Rights
Reserved.

Copyright of individual articles remains with the original
author. Commercial use or republication requires the author's
permission. Copying is permitted for noncommercial,
educational use by academic computer centres, individual
scholars, and libraries. This message must appear on all copied
material.

===========
CIRCULATION
===========
JIBC Vol 2 No 2:

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(END of JIBC Vol 2 No 2, Part 2 of 2, March 1997)