Ecash
Ecash
(application)The ecash software stores digital money, signed by a bank, onthe user's local computer. The user can spend the digitalmoney at any shop accepting ecash, without the trouble ofhaving to open an account there first, or having to transmitcredit card numbers. The shop just has to accept the money,and deposit it at the bank. The security is provided by apublic-key digital signature.
There process involves the issuing banks who exchange realmoney for ecash, users who have and spend ecash, shops whoaccept ecash payments, and clearing banks who clear paymentsreceived by shops.
At the moment, all users and shops must have an account atDigiCash's own bank, the "First Digital Bank" atbank.digicash.com. They can withdraw money from the bank, andconvert it to ecash. Shops can be started by any ecash user.
http://digicash.com/ecash/ecash-home.html.