The banking industry wants to introduce digital cash. In the next six months you’ll hear people talk about how they’re going to do it. It will take a decade to fully deploy it. They’re now convinced that we have enough levels of security in the system that it’s harder to counterfeit this than the Federal Reserve note.
Predictor: Curtis, Walt
Prediction, in context:In a 1994 article for Network Computing, Walt Curtis of National Semiconductor discusses the future of money in a networked world. He writes (with the help of writer Patricia Schnaidt): ”Digital cash will be just like going up to the ATM. Count on it. You will see a PCMCIA slot. You’ll plug in there, type in a PIN, then you’ll get digital cash. You’ll be able to put $1,500 or $500 worth of cash on your card. You downline load it into your account. That card is what plugs into the PDA that the waitress uses to take your order. When you are presented with the bill, you put your card in, and decide how you want to pay for it – digital cash or credit card transaction. The banking industry wants to introduce digital cash. In the next six months you’ll hear people talk about how they’re going to do it. It will take a decade to fully deploy it. They’re now convinced that we have enough levels of security in the system that it’s harder to counterfeit this than the Federal Reserve note.”
Date of prediction: November 15, 1994
Topic of prediction: Economic structures
Subtopic: E-cash
Name of publication: Network Computing
Title, headline, chapter name: The Electronic Wallet
Quote Type: Direct quote
Page number or URL of document at time of study:
http://web.lexis-nexis.com/universe/document?_m=470c923d52428379708156ea8dab6a17&_docnum=1&wchp=dGLbVtz-lSlAl&_md5=c0e06e0e2f42dfcb7ec5ca0c5802e135
This data was logged into the Elon/Pew Predictions Database by: Garrison, Betty