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(Q) Your primary exchange agents for CSATM, how did you choose them? Or did they request to work with CSATM?

I contacted them. Having devised this system I knew I needed Exchangers to work with. I have also contacted more exchangers than accepted the ATM. I believe that as coverage expands, the exchangers will be happy to add us to their list of services.

(Q) Is it difficult to become a CSATM exchanger?

Exchangers are subject to the full KYC requirements. They are acting effectively as money service businesses, and the ATM has to be cognizant of that and ensure that all legislative guidelines are being adhered to. I don’t think that is difficult for anyone who is seriously in the Exchange business.

(Q) Do you allow your users to work with HYPS and AutoSurf/Investment programs? Or do you really know what the users are doing with their accounts?

CSATM works with HYIPS and autosurfs. The system can be integrated to their scripts (although I do note a preponderance of encryption of scripts - I cannot incorporate where encryption may be). This brings up an important point. As you would be aware there is a preponderance of hackers and whatnot within that hyip field. Security is paramount. Or should be. The CSATM API will only work with servers that are pre authorized. And only with a location that is preauthorized (the location is provided to CSATM in encrypted format - I do not know “where” it is. This encryption provides security against those who might hack a hyip or autosurf script and then try and run with the money. If a site has their server hacked - they will lose their assets. This is the case now with any other form of payment processor. Admins in that area need to keep their servers safe, the ATM will provide for security and integrity of our API, but that is as far as it goes.

The other point that has to be made is that the ATM does not accept business from adult sites, terrorist sites or warez sites. As the IP of every server using the API is known, I can ensure that this integrity is maintained. Now it also has to be noted that just because an IP is allowed, I do not know the location nor amount of savvies they are collecting. That part is secure. The above IP requirements were added as a direct response to some of the charges e-gold is currently facing.

(Q) That brings me to another important point, this new type of value transfer is so new and so unique I don’t even know what to call it or how to classify it. I don’t call it a ‘digital currency’ and its certainly not an online payment system. We have been calling it ‘value transfer’. How do you classify CSATM? What name do you give it?

As you point out correctly it is not an online payment system. For the purposes of this interview I have named the asset a savvy. It is possible that name will stick. The meanings conjured up by a “savvy transfer” are rather appropriate. Attention needs to be directed to what CSATM actually is, and what it in reality is is a storage system. It is not a payment system, although it could be “deemed” to be so. The reality is of a transaction is… you leave me something somewhere and I go to that place and pick it up. You leave it there with the expectation I will get it. But it is not paid to me. Again it is almost the reverse of a payment - you do not “push” the savvy to me; rather I go and “pull” the savvy from you. This also could be construed as a semantic argument. Semantics are the basis of legal issues though.

(Q) Typically in an online digital currency account, there is a database record and some type of receipt or record on each transaction. I think this would be very helpful for retail users but at the same time, cumbersome to private value transfers. I understand CSATM is very similar to cash, do you offer any type of receipt or record for users?

The API will generate a random value which can be inserted into user software. This was done to account for the “receipt” issue. User software can also be configured to send an email after payment is made. This also takes care of the receipt issue. The transaction number is not stored, it is generated on the fly. But it does serve the purpose generally. If the transaction record had a number in the database it would have an identity in the database, and that is not what the software is set up for. However, merchant sites can adapt easily. The casual user can also send either the desired recipient, or themselves or both, and email when they conduct a savvy move

(Q)With CSATM a large burden of ‘customer verification’ falls on the exchange agent. (Name, address, method of funding, etc.) As the CSATM operator you really do not deal with these things. You don’t accept direct funding of accounts and have no bank accounts. e-gold is a similar set up and as we see in the e-gold case, it now appears that at least some of the KYC responsibility is directed toward the operator, at least in the US. Are you concerned that criminals or creeps will attempt to use the CSATM for some nefarious dealings? Just as an example, with e-gold, even after they were able to identify a child porn account, report it and freeze it, another popped up. Do you have any protection from such events happening?

I have responsibility for KYCing the exchangers. I concede that the model in this regard is very similar to e-gold. We are in complete compliance with legislation, as it stands today. This is not to say that the e-gold case may lead to changes in legislation, and if so then we will adapt. I am concerned that criminals will attempt to use the system, and that is why the limitations to the API exist. However, this does not stop the criminal from casually using the system. However, to get access, they will need to go through an exchanger. As has been pointed out in some locations, if for example a dope seller was to try and use an exchanger, they would be refused service. What the ATM does is encourage and empower the exchangers to use their best judgment as to who they wish to do business with. The ATM provides legitimate users an opportunity to complete transactions in privacy. Not secrecy. All reporting requirements in and out of the system are maintained.

(Q) On a value transfer of $1000, what would the CSATM fee be and who gets charged, the sender or receiver?

$25 to the receiver. Unlike Loom Gold and the Loomster.net we charge for moves. Fees are:

• less than $10 - 1.25%
• $10.01 - $50 1.5%
• $50.01 - $200 2.%
• $200.01 - $1000 2.5%
• $1000.01 and up flat fee $30

(Q) Do you feel the CSATM will develop into a widely used e-commerce web site, used for retail merchandise sales? What else is the CSATM business suitable for…what business?

I certainly think that CSATM provides for a gap in e-commerce. By allowing global payments in a private environment I think that any legitimate retail business would be interested in us. There are certain parties that would say that the ATM could become a haven for tax dodgers and other assorted criminal behavior. There is a risk of this, but I have taken steps to mitigate that risk. What we DO provide, in conjunction with our exchangers, is a secure environment for any point of the globe for people to do business together. By setting one asset value, and empowering the exchangers to form a competitive and co operative network, I am hopeful and confident of general acceptance by all forms of e-commerce. It will be one step at a time, but the ATM has the technology and business model to be a very real force. After all who wouldn’t like to do a savvy transfer?

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