E-cash is different from money forms like paper money and gold. It is a digital currency or electronic money. Nobel Prize-winning economist Milton Friedman said in 1999 ”I think that the Internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B without A knowing B or B knowing A.“