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Essay heading: Digital Cash
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Business |
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| Date added: |
March 20, 1997 |
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2 / 488 |
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Anonymity assures the privacy of transaction on multiple levels. Beyond encryption, this optional untraceable feature of digital cash promises to be one of the major point of competition as well as controversy between the various providers.(Okamoto & Ohta, 1991) Digital cash may have complex problems as well as cash has now...
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People can use it to evade taxes or launder money. Money could flow directly between countries without being traced. Hackers would also be able to get the account information or "chip" information and steal someone's money or wealth. Moreover, what happens if a computer crashes or a "chip" malfunctions? Then there can be a total loss if it isn't traceable...
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