EMO_ney

[John Young <jya@pipeline.com>]

   3-30-96 Economist, three related E-money reports:

   "Trials of digital cash and smart cards seem to be going on
   everywhere. Who will win the race to control tomorrow's
   money?"

   "Digitising dollars." Citicorp's Electronic Monetary System
   could make all forms of physical money redundant, and, if
   it wins broad acceptance, could help to solve some of the
   financial industry's most intractable problems.

   "The foreign exchange market: illiquid lunch." Diminishing 
   liquidity; settlement risk; impact of electronic brokering.

   EMO_ney