Saturday, February 17, 2007

E-cash must be anonymous

Play cash"When it comes to trading convenience against privacy, most people seem to back convenience every time. With cash, however, it might be different. The more the state intrudes into electronic cash, the more it encourages inefficient notes and coin. From the first slave who bought his freedom, money has been what Dostoyevsky called 'coined liberty'. As Adam Smith would no doubt have observed, just because the state can pry into electronic cash does not mean it should." —The Economist

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