Digital cash is a Ågpayment message bearing a digital signature which functions as a medium of exchange or store of valueÅh
It is an idea recorded in the hard drive of a computer
To have value, digital cash must be exchangeable for ordinary cash
It must be be exchangeable for goods or services priced in terms of ordinary or digital cash
Like a typical check, it represents an obligation of a private company rather than the central bank or treasury
Typically it will not be issued by the government
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