Search the Web for e-money. Find 10 different forms or e-currency (e-cash etc). How do these systems differ? List each of the 10 forms of currency with a description. Which one is the best and why?
10 DIFFERENT FORMS OF E-CURRENCY AND THEIR DIFFERENCES:
1. ATM-model transactions, involving only a financial institution and an accountholder who either deposits or withdraws money from his/her account;
2. Unmediated Two-Party Payments: when the buyer and seller are the only two parties involved in the transaction--for instance, cash payments in national currency or Ithaca HOURS;
3. Mediated Three-Party Transactions: payments with credit or debit cards or with cheques fall in this category, as do most LETS and Time Dollar transactions;
4. Micropayments: until now only applicable in new forms of electronic payments where the service or information is metered out and charged on very small increments, e.g. traditional telephone charges, new automatic toll charges, and other digital cash applications; and
5. Anonymous digital cash: electronic encrypted currency, pioneered by David Chaum's Digicash , which ensures that--as with paper currency and coins--the privacy of the cash ...
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