Digital Monetary Trust was an anonymous internet banking system using electronic money.
It consisted of a three-layered computer system. Its function was to abstract the identity of the account owner from the accounts. That is, the account holders transfer money into the DMT network, which becomes the legal owner of the money. Then, the account holder can make a private DMT transfer to another account in the system,. The system is based on trust between the "bank" and the account holders, hence the name.
It was allegedly owned and maintained by James Orlin Grabbe and hosted on Dubai Internet City servers.
Read more about Digital Monetary Trust: DMT Rand, Fraud Allegations
Famous quotes containing the words monetary and/or trust:
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