Properties of E-cash:
There are four properties of E-cash
: – Monetary Value
: – Interpretability
: – Irretrievability and security
E-cash must have a monetary value; it must be backed by cash, bank-authorized credit or a bank certified cashier cheque. When e-cash created by one bank is accepted by other others.
E-cash must be Interpretable i.e. this can be cleared in multiple banks, because multiple banks are required with an international clearing house that handles the exchangeability issues because all customers are not going to be using the same bank or even be in the same country.
E-cash must be storable and retrievable from any place telephone or personal communications device and with- draw from and deposit in to banking A/C. E-cash should not be easy to copy, this includes preventing or detecting duplication.
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