E-Cash Project presentation.

2. E-COMMERCE AND IT
APPLICATIONS
ELECTRONIC CASH

3. ZAYN

4. INTRODUCTION
• An E-cash or Electronic cash is a kind of system which permits
a consumer (person) to make payment for objects/goods or
services by a way of transmitting a number from one computer
(PC) to another (PC).as in similar the serial numbers on real
currency notes, these digital cash numbers are unique one.
Each number is issued by a bank and represents a specific
amount (sum) of money. Un-like the real cash it is anonymous
and reusable i.e. when digital cash is sent from a consumer to a
seller, there is no way to get information about the buyer.

5. E-CASH PROCESS
Phases in E-Cash
Transaction

6. MUSTANSA
R

7. HOLDING CASH
• Online Cash Storage:
Online cash storage means that an online bank is involved in all
transfers of electronic cash. Instead, a trusted third party; an
online bank is involved in all transfers of electronic cash and
holds the consumers’ cash accounts.
• Offline Cash Storage:
Offline cash storage is the virtual equivalent of money you keep
in your wallet. The customer holds it, and no third party is
involved in the transaction.

8. DOUBLE-SPENDING
• Double-spending is spending a particular piece of electronic
cash twice by submitting the same electronic currency to two
different vendors. By the time the same electronic currency
clears the bank for a second time, it is too late to prevent the
fraudulent act.

9. AMAID

10. PRIVACY AND SECURITY OF ELECTRONIC
CASH
• It can only be used for one transaction,
• The consumer’s identity remains invisible throughout the transaction process,
• There is a guarantee that the transaction takes place between two parties only,
• The transaction is legitimate,
• It is not designed to work on a specific network or storage device,
• It is easily transferred in different locations without the need for a merchant
account,
• It is easy to use and does not require complicated hardware or software,
• A standard must be developed for e-cash payments and receipts, and
• E-cash from different vendors must be easily interchanged.

11. SECURITY TO AVOID DOUBLE SPENDING
Double Detection
Process

12. MUSA

13. ELECTRONIC CASH SYSTEMS
• CheckFree
• Clickshare
• PayPal

14. ADVANTAGES OF E-CASH
• E-cash is cheaper and more efficient: less paper and personnel
are required to process transactions,
• Transfers occur on the Internet and established networks that
span the globe – this enables consumers to transfer cash at
very low rates, and
• E-cash does not require one party to receive authorization as is
the case with credit card transactions.

15. DISADVANTAGES OF E-CASH
• E-cash is anonymous so there is no audit trail and this can lead to
fraud such as money-laundering: this occurs when criminals convert
cash obtained illegally into money they can use without questions
being raised as to its origin,
• Illegally obtained e-cash is used to purchase goods/services which
are then sold to the public for real cash,
• E-cash can be forged, and
• A negative economic impact can be realized when banks loan huge
amounts of e-cash to consumers and vendors.