1 / 18

DIGITAL CASH

DIGITAL CASH. LINO LIMA VALERIE BETTS RITA MOLVIE KACI NEPTUNE ROB ZYNDA. WHAT IS DIGITAL CASH?.

eithne
Download Presentation

DIGITAL CASH

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. DIGITAL CASH LINO LIMA VALERIE BETTS RITA MOLVIE KACI NEPTUNE ROB ZYNDA

  2. WHAT IS DIGITAL CASH? • It is a system that allows a person to pay for goods or services by transmitting a number from one computer to another. Like the serial numbers on real dollar bills, the digital cash numbers are unique. Each one is issued by a bank and represents a specified sum of money.

  3. HOW DOES DIGITAL CASH WORK? • Most digital cash systems start with a participating bank that issues cash numbers or other unique identifiers that carry a given value, such as five dollars. To obtain such a certificate, you must have an account at the bank; when you purchase digital cash certificates, the money is withdrawn from your account. You transfer the certificate to the vendor to pay for a product or service, and the vendor deposits the cash number in any participating bank or retransmits it to another vendor. For large purchases, the vendor can check the validity of a cash number by contacting the issuing bank.

  4. WHAT DOES DIGITAL CASH DO FOR US? • One of the key features of digital cash is that, like real cash, it is anonymous and reusable. That is, when a digital cash amount is sent from a buyer to a vendor, there is no way to obtain information about the buyer. This is one of the key differences between digital cash and credit card systems. Another key difference is that a digital cash certificate can be reused.

  5. SECURE ANONYMOUS PORTABLE INFINITE DURATION TWO WAY OFF-LINE CAPABLE DIVISIBLE WIDE ACCEPTABILITY USER-FRIENDLY UNIT-OF-VALUE ELEMENTS

  6. FOR USERS Increased convenience Improved security ADVANTAGES

  7. FOR BANKS Reduction in Cost Processing Security Measures Statement Costs Handling Costs Confidentiality ADVANTAGES

  8. FOR THE RETAILERS Cash deposited faster Smaller transactions fees Less Vandalism Cheaper Equipment ADVANTAGES

  9. GLOBAL Safety Threat to Money Systems DISADVANTAGES

  10. FOR USERS Lack of Knowledge Limited to those with PC’s Social Difficulties DISADVANTAGES

  11. LEGAL PROBLEMS Limited Government Control Money Laundering and Tax Evasion could be done more easily Easy to hide assets DISADVANTAGES

  12. Digital Cash Key Items • How is digital cash possible? • Private encryption key • Example: Owner • Public encryption key • Example: Banks & Customers • Note: Either key can decrypt each other • Types of e-money • Identified e-money (mowing • Anonymous

  13. Electronic Payment Systems • Three main groups • Trusted third party • Notational fund transfer • Digital Cash

  14. Top Digital Cash Providers • PayPal • Achex / Western Union MoneyZap • Yahoo PayDirect

  15. HOW WE USE DIGITAL CASH • PAYPAL • Enables any business or consumer with an e-mail address to securely, conveniently, and cost-effectively send and receive payments on-line • Available in 37 countries • Over 27 million registered users, with an average of 18,000 registering daily

  16. Ecash from DigiCash Illustration

  17. IS THIS WHERE WHERE WE ARE OR WHERE WE ARE GOING?

  18. Works Cited • Michael Peirce and Donal O’Mahony. “Scaleable, Secure Cash Payment for WWW Resources with the PayMe Protocol.” (www.w3.org/Conferences) • John Anderson. “Technology Talk.” http://www.msba.org • http://www.achex.com • http://www.paypal.com • www.ex.ac.uk

More Related