Digital Currency Reduces Need for Credit and Debit Cards; Allows Purchases on Auction and E-Commerce Sites With Zero Transaction Fees

SussexValley has developed encrypted software to bring the world a step closer to an all-electronic cash society with the introduction of E-Cash(TM) Digital Depository Receipts(TM) (DDRs).

E-Cash(TM) is electronic money that is available in various denominations and is accepted and used as legal tender worldwide. E-Cash(TM) replaces credit cards, debit cards and other monetary commodities over the Internet, working seamlessly with all payment systems and service providers in every phase of electronic cash transactions around the world.

In creating E-Cash(TM), SussexValley utilized its expertise in making encrypted software to design virtually unforgeable digital currency, making E-Cash(TM) the most secure way for people to pay each other on the Internet.

"E-Cash(TM) offers an immediate solution to the music industry which is desperately seeking a way to securely sell music on the Internet," says Ted Simson, president and founder of SussexValley. He explains, "The Internet is littered with failed online music services that charge a monthly membership fee to credit cards. The most glaring flaw in this business model is that the majority of music buyers are young people between the ages of 10-19 years of age. Most of them don't have access to credit cards and are, therefore, automatically excluded from membership. With E-Cash(TM), users don't need credit cards, bank accounts or any other form of affiliation with a financial institution to buy or spend it. Any person of any age can buy and spend E-Cash(TM)."

According to Simson, E-Cash(TM) payments are recognized and authenticated almost instantly, without the need to confirm through an issuing bank or agency. In addition, like using cash, E-Cash(TM) transaction can be completely anonymous. This makes using E-Cash(TM) eminently usable for peer-to-peer services such as those used in music file downloads, and auction sites where proving the trustworthiness of buyers and sellers is difficult.

E-Cash(TM) is also ideal for e-commerce sites, where credit card identity theft and other sophisticated fraudulent schemes cost vendors hundreds of millions of dollars in revenues annually. Vendors who accept E-Cash(TM) can authenticate the payment and deposit it to their account almost instantly. Also, since vendors no longer have to collect credit card information from their customers, neither they nor their customers need worry about hackers breaking into the site and stealing sensitive financial information. E-Cash(TM) also surpasses cash in convenience and cost-effectiveness, because it allows payments of as little as one-tenth of a cent with zero transaction fees.

How E-Cash(TM) Works

When a person buys E-Cash(TM), it is safely stored as a coded electronic file in reserved accounts, or Digital Wallets(TM), on the owner's computer or other secure location. Like having cash in your wallet, it represents the ownership of legal tender. When you spend E-Cash(TM), you digitally "sign" it away to the receiver. Special software automatically confirms that your signature is authentic, making the possibility of forgery practically nonexistence. As a result, a mutually trusted third party (bank, credit card company, etc.) is not necessary. Like cash, when given as payment, E-Cash(TM) instantly becomes the property of the receiver.

About SussexValley

SussexValley is a privately held company that specializes in developing innovative encrypted software for underwriting, minting and validating "blind" signature electronic cash and digital depository receipts (DDRs). SussexValley is leading the evolution in superceding cash, credit and debit cards as the preferred method in all electronic, computer-based financial transactions, including peer-to-peer, e-commerce and other platforms in which a monetary payment can be made electronically.
For more information, contact info@SussexValleyJaycees.com.
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Editorial Note: Digital images and additional technical information are available upon request.