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Date: 1998-11-05
Crash: Digicash ist pleite-.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- Sommer geschlossen ward und die einzige U.S. Bank die Elektronenmünze ab September aus ihrem Angebot entfernte. Dem Board of Digicash-Directors gehört auch Nicholas Negroponte an, der Ober/visionär. -.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- Tim Clark November 4, 1998, 6:05 p.m. PT Electronic-cash pioneer DigiCash said today it's filing for Chapter 11 bankruptcy protection after shrinking its payroll to about six people from nearly 50 in February. The company, which has been running off a bridge loan from its venture capital investors since June, is seeking new investors from established financial institutions or a buyer for its software technology. The company's operations in the Netherlands, where it was founded, were liquidated in September. ... Electronic-cash schemes have found difficult sledding recently. First Virtual Holdings, which had a form of e-cash, exited the business in July. CyberCash's CyberCoin offering hasn't really caught on. Digital Equipment, now part of Compaq Computer is testing its Millicent electronic cash, and IBM is in early trials for a product called Minipay. Under bankruptcy laws, DigiCash's Chapter 11 filing allows the company to continue operations, while keeping its creditors at bay as the company reorganizes. Most of DigiCash's $4 million in debt is owed to its initial venture capital financiers who extended the bridge loan, August Capital, Applied Technology, and Dutch investment firm Gilde Investment. ... DigiCash suffered a setback in September when the only U.S. bank offering its scheme, Mark Twain Bank, dropped the offering. But a number of major banks in Europe and Australia offer or are testing DigiCash's electronic cash. Also in September, DigiCash closed its Dutch operations and liquidated its assets there. ... "Everybody feels anonymous e-cash is inevitable, but the existing situation was not going to get there from here," said Loftesness, who is frustrated by potential partners telling him, "This is absolutely strategic, but unfortunately it's not urgent." The company was founded by David Chaum and was well- known in the Internet's earliest days. MIT Media Labs' Nicholas Negroponte is a director of DigiCash. full text http://www.news.com/News/Item/0,4,28360,00.html?owv relayed by [email protected] -.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- - -.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- edited by published on: 1998-11-05 comments to [email protected] subscribe Newsletter - -.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- -.-. --.- 
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