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DigiCash files for protective redundancy

e-cash utopia still some way off

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DigiCash is filing for Chapter 11 bankruptcy protection after failing to cash in on the hype surrounding electronic dosh. The company, which has been supported by a bridge loan from its venture capital investors for the last three months, is on the look out for new investors, although interim CEO Scott Loftesness warned that it would take "a fair amount more capital" to make it succeed. News of DigiCash's plight contrasted sharply with an announcement that Hewlett-Packard would start intalling WaveMeter chips inside its computers next year. According to GlobalWave, a joint venture company created by Britain's Internet Technology Group and Wave Systems of the US, the WaveMeter enables users to pay for software or digital content according to how long they use it. Users simply buy credits by accessing GlobalWave’s secure Web site. While the arguments in favour of developing an electronic transaction system capable of handling small amounts of cash affordably are compelling, it appears DigiCash’s experience shows that people simply aren’t quite ready to embrace it yet. ® Click for more stories Click for story index

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