E-cash – Banking Methods


E-cash – Banking Methods

E-cash, also known as electronic cash, is a new means of payment that uses internet based technology to transfer money. Unlike other internet based payment systems, E-cash ensures complete anonymity of the user by using public key cryptography and blind signatures. The system borrows its concept from that of an electronic funds transfer used by banks. The user needs to have an E-cash bank account. You then need to install the E-cash application in your PC or phone into which you withdraw the money from your bank account. Once loaded into your E-cash software, you make payments without leaving a trace of your information or identity. The same method applies to when making withdrawals.

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