To: SCOOBEY-DO (242 ) |
From: SCOOBEY-DO Tuesday, Jun 30 1998 6:12PM ET
Reply # of 2300
This is a continuation of Tom Hughes' speech in London on June 23, 1998.
"PROBABLE EVOLUTION OF THE PERFECT MARKET
"PERFECT equipment, which will eventually be made by many different companies, will be agressively promoted and marketed by utility, cale, publishing, insurance, health and other industries. Expect participation from any business that will enjoy reduced costs and added revenues from a customer base that can send real time purchases or payments electronically, with the payment by ATM card and smart cards or making payments with card present credit cards. With this kind of incentive to deployment, PERFECT equipment will be flooding into the homes across the globe.
"What will happen once the average consumer suddenly finds herself capable of placing a real time lottery wager at 1AM in the morning from the safety of her bed? What will happen as state and national legislatures suddenly realize that since the PERFECT transaction occurred from the sending bank to the Lottery bank then it would be an easy matter to simply tax the winnings, before sending back the balance to the winner's bank? The answer is a global explosion of mass market PERFECT wagering. Without doubt, the main method of PERFECT wagering in much of the developed and developing countries will be wagering by mobile commerce. Equipment such as the Pocket Pay will be the method of choice to send pay per play real time wagers to the gaming operators.
"Betting Inc. is focused on being the interface or gate of choice that the bank host processing certers such as ET&T rely upon to alert the gaming operators that they have been paid on the pay per play basis and for them to respond back with an acknowledgment of such completed transactions.
"NEWCOM TELENOLOGIES AND BETT ALLIANCE - A COMPLETE SYSTEM
"Keith Benson, CEO of Newcom Technologies, will be speaking to you later this afternoon. Newcom and Betting Inc. have formed an alliance to develop mobile ewlectronic wagering on a global basis.
"Newcom has developed a proprietary operating system called the Funge, which can turn any mobile digital hpone into a transaction device that can send receive data to perform purchases, bill payments, etc., with payment accomplished via a value added smart card, ATM card with PIN, or credit card. Keith will go into more details of the Funge system operation; but basically, a Realm Vector Protocal underlies the Funge and creates a new key per transaction and creates a very secure environment for mobile real time cash wagering.
"In our demonstration in booth #2, we will demonstrate the Funge and Newcom's server, ET&T, and BETT working together to accomplish a pay per play transaction from a Siemens mobile phone. Newcom's server will relay the message from the GSM system to ET&T, over the internet; ET&T will act as the financial processing gateway to the banking industry, driving authorization and payment for the transaction; and BETT will act as the gateway to the gaming operators, who need to know and to acknowledge when a PERFECT wager has occurred.
"The three companies are joining together (The Alliance) to specifically focus on global wagering along with many other mobile commerce applications. It is the stated purpose of Newcom, Betting Inc. and ET&T (the Alliance) to aggressively market a completed package to strategic partners and countries who are interested in the potential of moving real time non reversible cash as a gaming or purchase or bill pay transaction.
"ET&T and Newcom Technologies will jointly enter into the global market arena, position our bank host processing certer to drive or process mobile phone transactions which have been enabled by the Newcom Funge technology.
"Betting Inc. will drive communication lines to the gaming operators in that specific country and will receive commands of "bank transaction complete" from our bank host processing center and will forward such message to the gaming operators for an acknowledgment. The stated goal of Betting Inc. is to act as the gateway of choice for other PERFECT bankk hosts to use when running a PERFECT wagering transaction.
"The stated goal of the alliance is to position ourselves to enjoy a substantial market share of the projected 250 billion dollars global PERFECT wagering market of 2001.
"THE POCKET PAY
"The Alliance has the US Patent rights for this device, and is looking for a strategic partner to help develop and market the product. Remember, the Pocket Py is combination terminal and phone that fits into you pocket, and can provide security and convenience
by holding card numbers, access information, etc. in memory. A user can load access data and account numbers for multiple cards or systems into the Pocket Pay using a special reader (or PC cable) that attaches to the Pocket Pay and can then be detached. The user can then access that data using a PIN or other secure access, without having to carry multiple cards with them.