Electronic currency

what is electronic currency is all about?
"The money screamed across the wires, its provenance fading in a maze of electronic transfers, which shifted it, hid it, broke it up into manageable wads which would be withdrawn and redeposited elsewhere, obliterating the trail."

Nest of Vipers, a banking thriller
by Linda Davies.

Electronic Currency is the new way of using money to exchange for a goods that consumer like.The different of it is the consumer did not using cash to purchase the product.They took the cash and change it to an digital format to stored in an account to enable them to shopping using cashless way.The Electronic Currency can be found in many form such as credit cards,debit card,cash card and ATM bank card as long it can stored it in digital way.The usage of electronic currency not just to only to make payment but it can be use as a Trading tool for an businessman. This electronic currency is better in usage in term of making transaction with other person from different part of the world.The Digital format open source micropayment system can be based on Java, JXTA, XML, OpenPGP and SSL.

The main focuses of digital cash development are:
1) being able to use it through a wider range of hardware such as secured credit cards; and
2) linked bank accounts that would generally be used over an internet means, for exchange with a secure micropayment system such as in large corporations (PayPal).

One such Electronic currency corporation is E-Gold

e-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage.

Other e-metals are also issued: e-silver is 100% backed by silver, e-platinum is 100% backed by platinum, and e-palladium is 100% backed by palladium. However, the most popular e-metal (by an overwhelming margin) is e-gold.

e-gold is integrated into an account based payment system that empowers people to use gold as money. Specifically, the e-gold payment system enables people to Spend specified weights of gold to other e-gold accounts. Only the ownership changes - the gold in the treasury grade vault stays put.