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Kawika Daguio , federal representative for payment systems for the American Bankers Association in Washington, DC, sees digital-cash properties like micropayments becoming staples within current regulated structures, and thereby reinforcing those structures. Daguio was formerly a financial-program specialist with the US Department of Treasury . This is one thing they can offer that the technology companies, offshore havens, and cypherpunk anonymous repayors cannot. Trust is an essential ingredient in commerce generally, and electronic commerce especially. The reason that banks will be the long-term winners in this battle is that they have earned the trust of customers and of governments, and are regulated to ensure that trust is not violated.