The Washington Post vs Webmoney Transfer

A recent Washington Post article
attempts to paint Webmoney Transfer,
a very successful global business, as
a recent entry into the online payments
marketplace for the specific purpose
of serving child porn users. Nothing
could be further from the truth.

“Duck, Cover and Roll-- Webmoney Digital
Currency is evil because the Washington
Post says so....!”

Brian Kreps wrote a article for the Washington
Post online yesterday. In a round-about-way
his article unfairly attempts to ‘demonize’
Webmoney Transfer by directly linking the multi
billion dollar a year company to illegal online
child pornography. The article wrongly depicts
Webmoney as a system that was recently
created to service users wishing to circumvent
US law. This is not true and nothing could be
further from the truth. Webmoney was created
almost a decade ago to serve the local Russian
market.
It is important to understand the global nature
of Internet Digital Currency.
--You can’t force the Internet world outside of
the United States to comply with the Patriot
Act.
--Other financial systems in far off nations were
not built around social security numbers and
credit ratings.
--Many entire foreign populations don’t use
credit cards.
--More people around the globe have cell
phones than have bank accounts.
The biggest outrage with the Washington Post
story in taking a ‘US only’ view of digital money, is
the vast ignorance shown by those who attempt
regulate and report such matters. Webmoney
Transfer is a non bank online payment solution
for Internet users. It is very popular, amazingly
convenient and it was created for people who
don’t have access to conventional banking or a
credit card.
The basic Webmoney account is called an
‘Alias’ account. It does not require ID or address
verification and it never has. For almost a
decade, Webmoney users have operated
‘Alias’ accounts. They are not new.
It is a safe & simple digital money account
which anyone can open and instantly use. It
was developed for the market in and around
Russia which is sometimes a region where
conventional banking is scarce and plastic does
not work. Webmoney Transfer, also works well
for that same user group all around the world.
The Webmoney ‘Alias’ account does NOT
require identification documents and users
have never needed a credit card, bank account
or Patriot Act approval to operate this handy
account.
This account structure or profile is how the
digital money world works outside the United
States, read on and learn.....it’s a rapidly
expanding universe and the Washington Post
won’t be able to marry child pornography to
every future successful online system.

Is Webmoney A Tool Of The Devil As
Washington Would Have You Think?

Webmoney is a practical solution to Internet
commerce.
Around the globe there are over 35,000 funding
locations, where anyone can add money to their
Webmoney account. That is...walk in with cash,
load your online account, no credit needed.
In and around Russia there are 150,000+ ATMs
and kiosks, about half of which are maintained
by a person, where anyone can walk up with
cash and instantly load their Webmoney
Account. Most of them are ATM type machine and cash feeds right into.
They have cash to digital funding partners
around the globe including CashU,
paysafecard and UKash. Consequently,
all over Europe, UK and the Middle East
verified Webmoney account holders can
fund their online accounts with cash through
one of these licensed and regulated payment
‘partners’
Webmoney Transfer is a fine solution for
non US users. This payment system was not
created in the United States, is it not Patriot
Act compliant & it does not require a credit
card to operate. God bless the Russians
for this global e-commerce solution. This is
a digital cash type system as are dozens
of other similar non-US online payment
solutions. It was created to fill a need and
operate outside the United States.
No US regulators are going to get away with
trying to tell the entire Internet world, “You
must comply with how we want things done
in the US.” Global regulation does NOT occur
that way.
Webmoney was born in Russia and created
for the average Russian person almost
a decade ago. It is a very popular and
successful system and much loved around
the world. The Washington Post, and the
Enquirer can publish all the stories they want
claiming Webmoney was created to service
crooks and child porn users, but the facts tell
us a different story. While I often enjoy Mr.
Kreb’s writing and have for years now, this
article is slanted to offer a very ignorant ‘US
Only’ view of the digital money world.
Webmoney DID NOT spring up last month in
order to better service child porn networks as
the Washington Post would have you think.
We have all heard the line, “Fool me once
shame on you, fool me twice shame on me.”
Well...in the past two years the press has
been very successful in fusing e-gold to child
porn but shame on the Washington Post for Russian
president, at the Russian Internet Forum RIF-
2008 in April, visiting with Peter Darakhvelidze,
Director of Webmoney Corporate Affairs.
That photo and the long successful operating
history of Webmoney Transfer doesn’t seem
to reflect the same attitude as the Washington
Post’s article.
Value transfer systems are becoming more
and more like cash and Washington will not
find solutions to the issues if they don’t even
understand the problem. Trying to persuade
the world, digital money is evil, by using the
local press is taking a blindfolded attempt at
regulating a global industry.
Brian, just for the record, Dr. Douglas Jackson
from e-gold was one of the original members
of the Financial Coalition Against Child
Pornography, it was not just formed by credit
card issuers.

Article by Mark Herpel