Michael, Whether you like it or not, SPAM is the problem. There are legitimate uses of anonymous email. I, for one, think that a web of mail peering agreements would be detrimental to the situation, not helpful. Yes, people should have the option of authenticating emails they send, and, end users should have the option of rejecting unauthenticated messages. That's all there today. There's still lots of work to do on the UI and many improvements to be made in the "smooth" interoperation of the various standards, but, the base capabilities exist. As an example, I run a mail server for a number of non-profit organizations. I do this for free. It runs on the mailserver I maintain for my household. I'm able to do that because I'm not having to pay someone for an email peering agreement, but, instead, am able to deliver messages directly to the MX of the receiving party. Do you really think we need SMBGP? I think not. Owen