eCache is a completely anonymous digital cash product. It is in retail use today across the Internet and has been for a few years. This is one of the most unusual and effective anonymous digital currency products in use today. eCache was designed & created to mirror cash banknotes. This systems can be used for payment between friends or associates, bill pay, P2P and P2B transactions. Payments can be sent or received using email, instant messaging or SMS.
Digital Bearer Certificates are cryptographically secured data pieces that entitle the owner to a defined portion of assets backing the certificate. An eCache payment is a Digital Bearer Certificates (DBC).
The current assets backing eCache certificates are pure gold coins and the currency certificates are labeled GG for “Gram of Gold”. A digital bearer certificate in the amount of 10GGs would have a value of 10 grams of gold.
These DBCs issued are backed by grams of gold held in the unpublished/unknown eCache vault location. Each DBC is similar to a unique physical banknote.
eCache is completely anonymous just like physical cash. The eCache mint which issues the certificates does not store any transaction details and no personal identifying information is ever requested from the mint or any other user. eCache can only be reached online by fully anonymous means like Tor.
Since each digital bearer certificate issued by eCache is registered within the eCache system at any time those DBCs can be exchanged for new ones with different identification. The eCache Interface will instantly and easily reissue a new DBC. The software destroys the old DBC and issues a new one with the same currency and face value. After an exchange that old DBC becomes invalid and worthless. Once reissued, just like cash, the ownership trail for that certificate disappears making it impossible to trace.
eCache certificates can be obtained from a third party independent exchange agent, received in payment from another user or purchased directly from eCache. An out-exchange or conversion from certificate to national currency can be accomplished using the same methods.
Daily audit reports are published on the eCache web site and a photo of metal that is alleged to be backing the certificates is also available from the web site. No account documentation or special business fees are needed to become an eCache merchant accepting payment for good and services. The software also offers an automated payment interface for customer websites. The eCache servers and databases utilize full disk encryption and all keys are stored offline.
The information above is taken primarily from DGC Magazine’s 2011 Industry Overview Issue