[p2p-research] e-currency systems 2

[Samuel Rose]

2009/9/4 Michel Bauwens <michelsub2004 at gmail.com>:
> an evaluation of a card friendly e-currency ... in french, thanks Dante
>


Here is google translate of the same:

Hello Bernard,

I'm with Dante and we return from our meeting with Walter Smets. It
lasted almost 3 hours and was quite informative.

Here are our first impressions. There I think I can classify them into
three categories: functional, technical and practical aspects of
software "Art Trade" used by the RES, always in comparison with
Cyclos.

Functional aspects

     * Trade Art is full of features. On this point, I think it is
largely a comparison with Cyclos. Should consider the features one by
one in order to see which are helpful or not, and what are the best
designed in software than in the other.
     * Trade Art can make transactions via bank cards, and is a proven
technique widely. Walter Smets has signed an agreement with VCC
(apparently the "Banksys Holland") which allows to make payments via
their terminals. In discussion (apparently long time) with Banksys
same. The cards are magnetic stripe and not smart for two reasons:
financial (the chips are more expensive), and because RES did not need
in the current state of affairs to secure its transactions beyond
measure.
     * The payment via SMS is currently available but not used. The
architecture must, however, may be technically reviewed to bring it up
to date, and to make payments via a third-generation mobile.
     Art * Trade does not support "multi-currency" now: the accounts
are not only Euro-RES. According to the developer, this would require
a significant effort to manage this, already in the database, and
certainly in terms of functionality already in place.

Technicalities

     * Trade Art is based on Microsoft technologies! Namely:
           o Microsoft SQL Server 2000 database
           o Programs C + + and Visual Basic running on a Microsoft
Transaction Server for Back-End Party
           o A mixture of Visual Basic programs and ASP pages for the
Front-End Party.

     Trade Art then uses a set of proprietary programs to run, which
seems in direct contradiction with the offering an Open Source
program.

     * The architecture itself, however, seems well thought out by
developers who seem very relevant.
     * In the opinion of the developer (Baldwin) itself, if it were to
do again, he opted instead for an approach "Full Web-based", where
even the Back-End is accessible via a standard browser, as allowed
modern techniques. The Party Back-Office is in effect a program itself
that must run on a dedicated server.


Practicality

     * This is obviously the big thing about RES: a network that works
(5000 outlets - 100,000 users). An experience of 15 years,
field-tested.
     * In terms of the development team for cons, it is rather
surprising: the program has been developed by two Icelandic 35 and 30,
who are currently the only ones who know how the program works. It has
virtually no documentation. Smets Walter confesses himself to be
totally dependent on these two developers, that he asked not to travel
together!
     * Management and monitoring of all transactions appear to be
satisfied with a very small staff: team of 7-8 people to manage
30,000,000 RES-euro transactions annually, is a good score. According
to Walter Smets is mainly due to the high automation of all
transactions.


Conclusion

RES has developed over fifteen years experience of high value and
potentially very rewarding in this area. Its software is probably a
key to this success.
However, it seems clear that this Software was created for RES and RES
has evolved over time, which probably included more addictive than
desired with respect to its designers (either Walter or his Smets 2
developers) .
In addition, the technical use of proprietary software seems to be a
poor candidate in a context of wider distribution and "Open Source".
Its use could be justified if we need an operational and effective immediately.


Dante and Xavier.

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Sam Rose
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