From: Vincenzo lozzo
Sent: Sunday, August 24, 2014 1:27 PM
To: jeffrey E.
Subject: privacy&other requirements

Jeffrey,

not sure if you and Joi spoke yesterday about the food stamps thing at =11 and whether we want to move forward with this.

If so, we need two things:

1) We need to understand what balance of privacy vs transparency the =ovt expects. We can tweak crypto enough to achieve almost any level of =hat combination, but we need to know what they'd like to have first. For instance: do they want the transaction amounts to be public? What =bout the type of transaction? etc etc

2) The level of cooperation we can expect: are we getting money from =hem? are they talking/enforcing things to merchants? What's the =imeframe they have in mind? and a bunch of other things

One side-note here is that we need to think about 'competition', meaning =hat even if we keep it quiet visa/mastercard/amex will figure out what =e are doing and then it's a matter of making sure that they don't =vertake us.

Anyhow, let's try to figure out if we want to do this and then maybe it =akes sense to talk all together to the govt people?

Vincenzo

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