Cash is essentially a physical or inferred representation of currency used for the purchase of goods and services or as a compensation for labour. When broken down cash is essentially just a means of exchange. Physical cash is the paper currency we use regularly while e-cash can be anything from debit cards to cash valued electronic gift cards.
The major similarities between e-cash and physical cash are:
- They both have stated value
- They are both used as a means of exchange
- They are both divisible
- They are both portable