DigiCash Inc. to File Reorganization, Seeks Partners to Drive eCash Forward
PALO ALTO, CALIF.--November 4, 1998
DigiCash Inc. has announced that it is entering into a Chapter 11
reorganization to allow it to pursue strategic alternatives for its
electronic cash ("eCash" ™) products and the associated intellectual
assets pioneered by DigiCash.
According to Scott Loftesness, interim CEO of DigiCash, "The company is
exploring a range of potential alternatives including working with major
strategic players to finance the market development of eCash or the sale
and/or licensing of the Company's intellectual property portfolio."
Loftesness added, "eCash™, as it has been developed by DigiCash, is an
important and inevitable payment solution in the world of global
electronic commerce."
The DigiCash payment solution is currently in use by leading banks in
Europe and Australia. These banks have deployed the DigiCash eCash
solution and continue to add to their respective consumer and merchant
eCash acceptance networks.
DigiCash's eCash™ payment solution offers a secure, low cost and private
payment option to consumers for payments of any amount. The intellectual
property owned by DigiCash consists of a series of patents, protocols, and
software systems that were specifically designed to be privacy protecting
for consumers and which also enable other applications like online
electronic voting. The ability to pay privately, without revealing
personal information, and avoiding the capture of personal transaction
information for marketing or other subsequent uses is a growing concern
among consumers globally.
Contact: Scott Loftesness: (650) 798-8183 or via email: sjl@sjl.net
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Received on Sat Nov 7 13:20:24 1998