Online virtual currencies: #cash becoming truly digital?
11 December 2012
Electronic money is not just regular money going online. Virtual currencies have specific monetary attributes and the potential to revolutionize the entire payments infrastructure.
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Jon Matonis will present these important differences and new opportunities.
Virtual currency, or digital cash, should replicate the functionality of physical cash in the real world setting, namely it should be a digital bearer instrument. The key questions that will be addressed include:
1. Do we have to lose the privacy attributes of physical cash in the switch to a cashless society?
2. What are the essential requirements for an ideal virtual currency?
3. How does the cryptocurrency bitcoin fit into this new payments infrastructure?
4. How can consumers and merchants benefit from the adoption of virtual currency?
Jon Matonis is an e-Money researcher and board director at the Bitcoin Foundation. He will speak at the EPCA Payment Summit on the afternoon of March 21, in the online currencies track.
Jon also writes a weekly tech column for Forbes Magazine. His career has included senior influential posts at Sumitomo Bank, VISA, VeriSign, and Hushmail.