Digital Monetary Trust

From Free net encyclopedia

Digital Monetary Trust is an anonymous internet banking system using electronic money.

It consists of a three-layered computer system. Its function is to abstract the identity of the account owner from the accounts. That is, the accountholders transfer money into the DMT network, which becomes the legal owners of the money. Then, the accountholders can make DMT transfer money as they like. The system builds on trust between the "bank" and the accountholders, hence the name.

The DMT uses a synthetic currency known as the RAND, named after Ayn Rand (not related to the South African Rand).

Fraud allegations

As of June 2004, there have been repeated claims that DMT has failed to deliver services. As of August 2004 this appears to have been resolved with no indication of fraud on DMT's part (see last two external links).

DMT stopped accepting inbound monetary transfers on October 10, 2004. The websites and all related systems were shut down on June 24, 2005.

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External links

• Guide to DMT
• Introduction to DMT
• The Anonymous Account System
• End of ordinary money, part 1
• End of ordinary money, part 2
• DMT - a scam operation?
• DMT Investigation Follow-up