DigiCash


Also found in: Dictionary, Wikipedia.
Related to DigiCash: Cybercash

DigiCash

(company)
A company, started in April 1990, which aims to develop and license products to support electronic payment methods including chip card, software only, and hybrid.

Ecash is their trial form of software-only electronic money.

http://digicash.com/home.html.

e-cash

(1) See digital coins.

(2) (eCash) An earlier Web payment service developed in the 1990s by Amsterdam-based DigiCash, Inc. It used a blind signature encryption method and required an active account from an eCash member bank. Digital coins were stored in the eCash Purse digital wallet on the customer's computer, and coins were deducted from the wallet when a purchase was made at eCash-compliant sites. The system was regulated by adding a serial number to each coin. When the merchant received the coins, they were sent to the customer's bank for verification. If a coin matched the serial number of a coin that had already been spent, fraudulent activity was detected.

Despite this innovative system, not enough banks participated for its success, and in 1999, eCash Technologies, Inc. acquired DigiCash. In turn, eCash was bought in 2002 by InfoSpace, Inc., Bellevue, WA and absorbed into its payment solutions unit. See Web payment service.
References in periodicals archive ?
'David Chaum, whose vision then seemed to have been ahead of its time, had founded DigiCash in 1989.
So promising was the idea that the Dutch ING Bank wanted to buy into the company and Bill Gates wanted to integrate DigiCash into every Windows 95 installation, willing to pay Chaum $100 million.
As organizations in both the private and the public sectors routinely exchange such information, individuals have no way of knowing if the information is inaccurate, obsolete, or otherwise inappropriate." He proposed an approach using which surveillance of electronic transactions could be rendered "obsolete (Chaum, 1985)." Chaum went on to create a digital currency based on cryptography that he called E-Cash, and in 1990 founded a company called DigiCash, an electronic money corporation.
The bank said that it has launched Digicash M-Payment App on the Luxembourg market.
Virtual money, like Cyberbuck (Digicash) or Beenz, were pure electronic currencies.
The following scenario might then unfold, based on ideas first proposed by DigiCash's David Chaum.
Key ones included: directories (including Yahoo and Excite); search engines (AltaVista, Infoseek); malls (BarklaySquare, Buckingham Gate); virtual resellers (Amazon, CDNow); financial intermediaries (Digicash); forums fan clubs, and user groups (virtual communities); evaluators (site reviewers); and virtual marketplaces (Covisint).
The development of other more advanced payment systems, although not often used or accepted by most businesses today, include the use of smart cards and computer-generated cash, such as Digicash and e-cash.
DigiCash, a pioneering firm in the field, declared bankruptcy in 1998 and sold its 16 patents and its domain name to eCash Technologies.
The difference between this version and DigiCash, however, is that the original was not actual U.S.