Digital Cash for the 21st Century

iCoins is a system providing the functionality of cash in an electronic medium.

iCoins provide many of the same features that are provided by real world cash, but in the digital realm.

Real World Cash	iCoins
Cash in the real world is owned by a single party, but can change hands with little complexity.	Fundamental to any digital cash system is that the tokens only have a single owner at any one time but can change hands with little complexity.
Cash is secured by a central bank and is backed up by assets.	iCoins are 100% secured by the underlying treasuries.
Cash is kept in a manner with security appropriate to its value and usage.	iCoins respect the individual’s right to choose how the retain and use their funds. iCoins works within and integrated with existing wallet providers – leaving the market for eWallets open to competition and innovation.
Cash is not traceable when transferred physically and leaves no inherent trail (this latter poses a problem for authorities who attempt to restrict movement of cash as a means to enforce other legislation).	iCoins provide an anonymous transfer mechanism but do retain an audit trail to facilitate anti-money laundering traces.
Cash can be used for any purpose (including illegal activities)	While iCoins are transferred anonymously, the activities of the Certified wallets (wallets that can change iCoins to cash and back) must be legal in the jurisdiction in which they operate, and iCoins will take a strong stance against illegal activities

Global Addressing for eWallets

eWallets are accounts within host systems
Dedicated eWallets such as Paypal exist simply to hold and facilitate transfer of funds
Accounts such as those that consumers have at Amazon exist to facilitate eCommerce
To date the only way for funds to transfer between (eg) Paypal and Amazon is for Amazon to enter into a merchant agreement with Paypal
The complexity of this web of relationships has hindered the growth of eCommerce and favoured the larger players

iCoins provides an addressing system so that any enabled wallet can send and receive digital cash In this way iCoins can be considered analogous to the SWIFT/IBAN system for transfer between bank accounts

Secured by Digital cash

In a digital age consumers expect instant gratification
Traditional banking systems that rely on funds being transferred and only recognise them when received do not work in the digital age

iCoins is backed up by a digital cash system, providing the ability for funds to be instantly credited once a transaction is carried out

Instant Fund Transfers between Disparate Wallet Systems

Wallet technology such as Paypal and Neteller only provide for transfers within their systems or to connected merchants.
This view that there will only be one wallet system contradicts the real world where many banks interact and provide service to their customers, and customers have many accounts at different banks

iCoins provide instant fund transfers from any iCoins enabled wallet to any other.

Traceability and Anti Money Laundering

All iCoins transfers are traceable retrospectively
iCoins limits individual transaction sizes and gross transaction volume per period of time

iCoins provides Anti Money Laundering facilities that are superior to cash or existing bank transfer mechanisms

Integrity

Integrity of the digital cash is paramount.
A coin must retain its value and always be redeemable at Face Value.
Consumers must be protected from the financial stability of the company.

iCoins are only issued and redeemed by Treasuries that have fulfilled the legal requirements in the countries in which they operate. In most cases this means iCoins Treasuries are banks or licensed eMoney Institutions. iCoins will only license Treasuries that have the financial stability to ensure the stability of the system as a whole.