From: hughes@ah.com (Eric Hughes)
Date: Sun, 28 Aug 94 23:32:10 PDT
To: cypherpunks@toad.com
Subject: In Search of Genuine DigiCash
In-Reply-To: <9408272345.AA08631@snark.imsi.com>
Message-ID: <9408290458.AA28242@ah.com>
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   > There certainly are digital funds transfer systems, almost all fully
   > identified.  These are not digital money systems, although they may be
   > precursors.

   The U.S. banking system is largely a "digital money system" in the
   sense that the bulk of the money in the system is represented in book
   entry form in computer systems and has no other existance.

Well, just to pick nits, I'm referring to a retail-level, digital,
general-purpose, bidirectional transaction system.  That doesn't exist
yet.  (Credit cards aren't bidirectional.)

Certainly, though, the book entry money that is the world's high end
monetary accounting is all digitized at this point.

Eric