There is also an emerging expectation of anonymity of transactions in the new information infrastructures. The use of electronic money in this field is developing rapidly, and a number of smart card based systems have emerged. One such instrument is E-money, which can be traded on the internet without reliance on credit card numbers. E-money might also undercut national institutions such as the US Federal Reserve, which are jealous of their power to issue money. That threat to national power is likely to encourage governments to attempt to severely regulate e-money.
Any time there is a new financial instrument, people are afraid.
But technology moves faster than governments can. 32 Electronic money, sometimes known as E-money, cybercash or digicash, is a new medium of exchange designed for the global information infrastructure. Trade on the Internet, for example, currently relies on credit card transactions, but these are vulnerable to computer security breaches. This can be sent to other users on the internet in a secure format and down-loaded on to a stored value card. It currently comes in many guises, and can be backed by, and traded for, any product which is currently in demand.