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Abstract

The growth of international interconnected computer networks and the pervasive trend in commerce of using these networks as a new field for business operations stimulated demand for new payment methods. These new methods needed to acquire unprecedented levels of security, speed, privacy, decentralization, and internationalization for digital commerce to be accepted by both consumers and businesses. Three such electronic payment methods are examined: 1. the generic, widely used electronic fund transfer, 2. the proposals for a digital cash standard, and 3. the real-world technology called Ecash. These methods are examined in terms of the dynamics of transaction clearance, and the effects on money supply and the macro economy.


INTRODUCTION
THE extraordinary growth of international interconnected computer networks and the pervasive trend in commerce of using these networks as a new field for business operations stimulated demand for new payment methods. These new......

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Approximate Word Count: 2917
Approximate Pages: 12 (250 words per double-spaced page)

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