One day Amazon will accept Bitcoins. That’s when central banks and governments get nervous. The internet is going to be one of the major forces for reducing the role of government. The one thing that is missing …is a reliable e-cash, a method by which on the internet you can transfer funds from A to B without A knowing B or B knowing A.
There have been plenty of efforts to fulfil the economist Milton Friedman’s 1999 prediction. As far back as 1982, the computer scientist David Chaum wrote a groundbreaking paper on the concept of a cryptographic digital currency. He subsequently founded “Digi-cash” and then developed “e-cash”. Others followed in the 1990s and 2000s. All failed… CONTINUE