In Search of Genuine DigiCash
Eric Hughes
hughes at ah.com
Sun Aug 28 23:32:10 PDT 1994
> There certainly are digital funds transfer systems, almost all fully
> identified. These are not digital money systems, although they may be
> precursors.
The U.S. banking system is largely a "digital money system" in the
sense that the bulk of the money in the system is represented in book
entry form in computer systems and has no other existance.
Well, just to pick nits, I'm referring to a retail-level, digital,
general-purpose, bidirectional transaction system. That doesn't exist
yet. (Credit cards aren't bidirectional.)
Certainly, though, the book entry money that is the world's high end
monetary accounting is all digitized at this point.
Eric
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