A large number of "industry experts" are evangelizing the imminent commercialisation of the Net. Sorry folks it ain't gonna be happening that quickly. Why? Well several things really, but some of them are:
A lack of consumer confidence, undeveloped shopping systems and a lack of digital cash.
This is a technical column so I'll talk about the technical bit that's the most interesting - digital cash. Until there's a reliable, easy and secure system consumer confidence won't alter much. So what's on offer?
Well, most of the systems (there are more names than I've got space for) rely on a few simple metaphors. Some take your credit card number. Every time you buy something your credit card is charged. But this isn't very economical for small charges. Others charge a "purse" from your credit card with $40 dollar or $100 charges, let's say, to make it more economical. Then you can pay from the purse using validated "notes" that can be regarded as legal tender. A twist on this theme is using a smart card as your "digital wallet" which can be charged from cash machines and other points in shops as well as from the computer at home. With this not only can you buy things in REAL shops but with a smart card reader, pay for things on-line.
So what's the deal, when can we expect this? Well most of these are coming into final trials or are in limited use on-line. Mondex was recently bought by a major credit card company and this might give this smart card based scheme the extra muscle. We'll have to wait for a standard to emerge or we risk several competing and incompatible currencies.
Technology Index | Back to Home
© 1997 j-dom Media. Contact us!
