Reason magazine published this excellent review of the Eric Jackson book, The PayPal Wars: Battles with eBay, the Media, the Mafia, and the Rest of Planet Earth (2004) in their August/September 2005 issue. The libertarian founders, Peter Thiel and Max Levchin, originally envisioned PayPal to operate as a global extra-governmental system of digital currency based around privacy, strong encryption, and e-mail addresses.
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I am an e-Money researcher and a Founding Director of the Bitcoin Foundation. My career has included senior influential posts at Sumitomo Bank, VISA, VeriSign, and Hushmail.
"Free-market protagonists, such as Matonis, regard cybercash as better than traditional government-issued or -regulated money, because it is determined by market forces and thus nonpolitical in nature." --Robert Guttmann, Professor of Economics at Hofstra University, in Cybercash: The Coming Era of Electronic Money, 2002
"Matonis is quite correct that the new technology makes easier the use of multiple private currencies." --Mark Bernkopf, Federal Reserve Bank of New York, in "Electronic Cash and Monetary Policy", 1996
"Matonis argues that what is about to happen in the world of money is nothing less than the birth of a new Knowledge Age industry: the development, issuance, and management of private currencies." --Seth Godin in Presenting Digital Cash, 1995
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