17 Dec
2003
17 Dec
'03
11:17 p.m.
F_GRIFFITH@ccsvax.sfasu.edu says:
In order for electronic money to be true cash, it must be able to circulate from Alice to Bob to Carl to Dave without the need to contact the issuing bank. Otherwise, it is merely an electronic check, perhaps anonymous.
No digicash system can possibly operate under this constraint. Mere numbers, unlike gold, can be duplicated. Without some sort of central verification involved the techniques cannot work. I suppose "true" digitcal cash by your definition is impossible. Perry