Congressman Stephen Lynch of Massachusetts discusses the Electronic Currency and Secure Hardware Act and its proposed “ECASH” system. Lynch explains how this technology will replicate the same anonymity of physical cash and why “cash is going away.”
U.S. lawmakers have introduced a bill proposing a digital dollar system called “ECASH,” which does not maintain a ledger, aiming to replicate the privacy of cash transactions. “The Hash” discusses the effectiveness of a digital currency without blockchain technology, noting issues like the double-spend problem.