Abstract
This chapter discusses the digital cash systems. Digital cash systems allow people to transfer money without transferring anything physical. The only support for any check or bank note is the reputation of the bank. The digital transfer system is not much different from the old gold-backed currency system. Basic digital cashier's checks are relatively simple to use. The signature does not add too much overhead. Traveler's checks and prepaid telephone calling cards are another form of digital cash. Many banks, credit card companies, and other financial entities are sure to rush into the field of digital cash systems as they see the electronic network as a frontier to be colonized. Some governments might come to view digital cash transfer system as a form of currency and decide that the government alone has the right to issue currency. Cash transactions system are also said to support illicit businesses. The blinded signing process can easily be used for anonymous extortion.
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