Digital Cash$$$$

[J. Michael Diehl]

According to Duncan Frissell:

> A digital cash economy doesn't have to be separate from the regular economy.

> 1.)     You mail cash/MO to First Digital Bank of Cyberspace (at an offshore
> maildrop) together with a public (unique if you like) key and anonymous email
> address (on Julf's remailer perhaps).

Then DC is actually backed by "legal" currency?  Then, what's to keep someone 
from opening a digital bank, and takeing the money and runing?

> 4.)     You find someone to accept the digital cash.  Initially it can be used
> for gambling and telecoms/storage fees, eventually buying digital goods
> (software, print, audio, video, VR) will be easy.  Remember, within a few 
> years 100 million homes in OECD countries will have 1.5 megabit lines into 
> them.  This is a huge market for digital entertainment.

OECD?

Obviously, DC can lead to quite a few opportunities for corruption, taxes for 
example.  This will hinder (or help, in Washington D.C! ;^]) the spread of DC.
Is there any arguements for DC, to offer to counter this major drawback?
+-----------------------+-----------------------------+---------+
| J. Michael Diehl ;-)  | I thought I was wrong once. | PGP KEY |
| mdiehl at triton.unm.edu |   But, I was mistaken.      |available|
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