Now in addition to paying to normal permanent contact points, you can also pay to “[Cash: New]“, which you will see in the contact drop-down menu. When you do this, it creates a new temporary contact and moves the asset there. You then copy and paste the token and send it to the payee.

When the payee receives the token, he logs in and pastes it into the “Receive Cash” field. The received assets appear and he can claim them normally with a single click.

This new “cash” feature is handy when you want to pay someone but don’t expect to interact with him very often in the future. This way, you and the payee can avoid the step of adding a shared permanent contact point to your folders — which you would probably never use again. It’s also useful for quick invitations — just pay 100 usage tokens to “cash” and send the token to the invitee.

Of course, when two people *do* pay each other frequently, the shared permanent Contact point is still the most convenient method by far, since the two parties don’t need to copy, paste, and securely send a brand new “cash ID” every time they pay each other.

Both modes of usage are highly convenient in their own right, depending on the circumstances.

(thanks Patrick)

There will be more on Loom.cc in this months’ DGCmagazine.

Like Loom, it allows anyone to issue assets (digital currencies). Unlike Loom, which relies entirely on (very good) obscurity for security, Trubanc’s digital signatures allow the bank and the customer to prove to each other that they agreed at a particular time on their balances. It does this while allowing destruction of transaction history for closed trades.

Trubanc will initially provide server-based trading. Eventually, it will provide digital checks and bearer certificates. These, however, WILL require permanent storage of transaction history.

Check out Trubanc here and thanks to Bill for all the hard work.

http://billstclair.com/blog/trubanc_web_client_public_beta.html

• BiZiBuxx at BiziBee Florist (also see BiziBee Floral )
• id: e27e15aa6677bfd7a1e55ccae177fb0f
• scale: 2
• precision: 3
• name: BiZiBuxx

There is lots of good news coming out of the Loom lately. Check out how many different issues are now available!

Also Patrick tells me that, “the internal architecture of server code changed to multiprocessing” which translated means, “the standalone loom server code forks a new process for each request. Also, the locking can be more granular, so lots of “moves” can happen simultaneously with no interference.”

Loom is a value transfer system or network.  Each user can if they so desire, create their own currency and use it for whatever they wish.  There are a number of these issues already out and in use, some private and some very public like Graham’s GoldNow Gold Grams.  Read more on it over on Loom.cc

To test out the basic version, you can try our video tutorial its two minutes of pure fun…two thumbs up.

There was also some good information on ‘electronic money’ published over at http://www.falura.hu/en/ and it’s worth a look.