This system provides security for all parties
Because of the bankÅfs digital signature, the customer knows that the bank note is valid
The shop can verify that the note is legal tender
The bank can ensure that the note is not spent more than once
The spender of the electronic note can be traced because the bank keeps a record of each note spent
In this way anybody who cheats can easily be tracked down
Since all financial transactions can be traced, law enforcement can more easily investigate fraud, money laundering, tax avoidance and other irregularities
| Previous slide | Next slide | Back to first slide | View graphic version |