At 09:07 PM 9/22/00 -0400, Declan McCullagh wrote:
> Feds: Digital Cash Can Thwart Us
> by Declan McCullagh ([EMAIL PROTECTED])
...
> It says: "The development of new technologies -- such as electronic
> cash, electronic purses, Internet or smartcard based electronic
> payment systems, and Internet banking -- is increasing the ability of
> individuals to rapidly transfer large sums of money, and could pose a
> challenge for FinCEN and other law enforcement agencies combating
> money laundering."
I suspect an even more interesting and scary possibility is that at some
point, electronic payment systems may be so widespread that a security flaw
in the system can have the same kind of impact as (say) the failure of a
major bank.
--John
