"The secure transaction technology will consist of 
software that supports both the cardholder and merchant
sides of a transaction and works with the VisaNet payment
system to authenticate buyers and sellers and to secure
transactions for clearing and settlement.  Microsoft and
Visa will publish specifications that make secure 
transaction technology available to other software vendors
and card systems to implement themselves or license from
Microsoft." --Excerpt from a November 8, 1994 Press Release

Effective implementation of ecash is defined as requiring
security at both ends of the transaction: apparently 
safeguarding the rights of both parties.  And the absence of
reference to current systems of ecash that accomplish this
implies that Microsoft and Visa will lead the field.

Implicit in the press release is also the notion that one
system of ecash (under the aegis of Microsoft and Visa) is
the safest way to go.

Monetary Freedom Security Try it--free! Innovation as Usual
Business as UsualVirtual Banks Experiments Terms for Ecash