Alan (Gesture Man) Wexelblat <wex@media.mit.edu> writes"

Nick asks:

...

Why haven't people backed away from credit cards despite $10's of billions in fraud?

A very good question. The reason is largely because it's a very profitable business *for the card merchants* (banks, mostly). They get their percentage no matter what, and losses don't eat into it all that much.

I agree with much of what Nick says, but I think we have to consider ways to help make digicash pay for its own implementation and enforcement, or it will not take hold.

Hmmm. Couldn't digicash issuers simply charge up front for their digicash notes, adding a percentage on top like travellers checks? Let the people who want the convenience and anonymity of digital cash pay for it; let the merchants redeem it for free. Sound okay? Joe