Re: distinctive properties of ecash, netbill, cybercash and iKP

[shamrock@netcom.com (Lucky Green)]

At 16:40 5/11/96, J�ri Kaljundi wrote:

>This is one question why the central bank in Estonia (I am not sure about
>other countries) does not allow issuing e-cash here in Estonia. While the
>banks issue e-cash to people, they get some real cash from people.  This
>leads to actually doubleing the money in circulation, each monetary unit,
>either dollar or kroon, can at the same time be used by owner of e-cash
>and at the same time by the bank. The central banks are afraid that when
>the amount of e-cash in circulation gets big, this could lead to
>devalvation of money, especially a small country like Estonia is afraid of
>such development.

That's simply silly. The same argument would hold true for travelers
checks. Are Estonian banks allowed to issue them? I thought so.


Disclaimer: My opinions are my own, not those of my employer.

-- Lucky Green <mailto:shamrock@netcom.com>
   PGP encrypted mail preferred.