Digital Money (Part 1)

Bits of data, representing money, which are purchased for consideration from an issuer and stored on the computer's hard drive or in an electronic wallet will change our traditional methods of payment. Digital money poses a challenge to the flexibility of law and its ability to answer the problems raised by a rapidly changing technology. Full Article

Digital Money (Part 2)

Ever since the time of the Bar Kochba revolt, currency has been a clear symbol of national sovereignty. The power to issue it rests solely with the state or its authorities (section 28 of the Bank of Israel Law, chapter 34 of the US Code). At the same time, currency represents the economic stability of the issuing state. In this respect digital money will be a revolution.

• Most states are not themselves intending to issue electronic money (one exception being Finland, where an electronic wallet is ... Read more