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Author Topic: 2012-05-17 itweb.co.za - E-money raises privacy concerns  (Read 825 times)
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May 17, 2012, 09:31:27 AM
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E-money raises privacy concerns

Nicola Mawson
2012-05-17

http://www.itweb.co.za/index.php?option=com_content&view=article&id=54870:e-money-raises-privacy-concerns


...
E-money is not regular cash going online, but is rather the concept of a digital bearer certificate in a cashless world, explains Matonis, speaking yesterday at ITWeb's Security Summit. He says it works the same way as hard currency, but is electronic, and transactions cannot be reversed.
...
An example of decentralised electronic currency is BitCoin, which was launched in January 2009 by Satoshi Nakamoto, although there are doubts as to whether this is his real name, says Matonis.
...

If a state wanted to take out the currency, it would only cost $43 million, although buying the processing power would not be that cheap, as it is the largest distributed network globally, says Matonis.

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