What backs up digital money?

[Simon Spero]

[Everyone's ignoring the obvious answer: Exabyte's, silly :)]

I find it kind of strange that many people are advocating setting up 
nano-currencies when lots of central-bank grownups in the EU are still 
bang-up for monetary union. I'd be interested to hear why so many people 
think the massive extra costs involved in adding 1000s of extra private 
negotiable currencies will somehow be worth it (apart from FOREX and 
derivatives arbitragers).

If I was going to create a purely digital currency I'd want to do it at a 
supra-national scale (e.g. the Euro or maybe even the UNO); otherwise why 
not just treat chaumian cash as just another payment instrument.





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