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Monday, April 22, 2002 |
 91 today! Father-in law John Hubbard celebrated his 91st today... in the last 2 years he's learned to use a Macintosh, maintains a global email network of friends, is on any number of boards and civic groups. L to R, Edith, also 91, John, Chris and Linda... Photo by John Getze, grandson...Comments 8:47:35 PM 
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Other peer networks that move money: Chop, Chit (east Asia), Hundi (India), stokvel (South Africa) - mentioned in an EU monograph on money laundering.These money moving networks are based on trust networks embedded in shared cultures. P2P networks exhibit some cultural aspects - appreciation of movie or music genres, for example - but are otherwise different because of the anonymity. Comments 11:17:19 AM
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Peer-to-peer? "Hawala means "change" in Arabic. In such a system, a local hawala contact in one country takes money from a customer and, for a fee, has an associate in another country dispense an equal amount to the intended recipient. The hawala associates periodically settle up with each other, by cash, check or wire transfer. The hawala system, which is widespread in places such as Pakistan and Somalia, has almost no bookkeeping and leaves no electronic trail, making it nearly impossible for investigators to follow." From this morning's Wall Street Journal article on Al-Barakaat... Comments 10:09:17 AM
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Updated 4/16/04; 11:53:55 AM
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Chris Gulker'sUpdated 4/16/04; 11:53:55 AM
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