From: jim@tadpole.com (Jim Thompson)
Date: Thu, 19 Aug 93 14:40:47 PDT
To: pcw@access.digex.net
Subject: Re: Traveller's Checks...
Message-ID: <9308192136.AA18425@chiba.tadpole.com>
MIME-Version: 1.0
Content-Type: text/plain




> 
> I think that American Express wouldn't be interested in 
> anonymous cash because the most important "feature" of
> a traveller's check is the lack of transferability. Once
> they're bought, only one person can spend them. 

I doubt that Amex is interested in traveller's checks for this
reason.  AMEX likes traveller's checks because they make a lot
of money on the 'float', the time value of the money you give them
before they have to redeem the checks when some bank presents them
for payment.

A digital bank could make a lot of money on 'float' too.  Given that
anonymous cash could be much harder to steal than paper checks, AMEX
could very well be interested in this 'new' type of monetary instrument.

Jim