emoney, the choice of the 3%

Rohit Khare (rohit@uci.edu)
Wed, 29 Oct 1997 19:06:29 -0800

economist elinor harris solomon in her book virtual money quoth:

cash = 550b xactions worth 2.2 tn in the USA in 1995
check = 62b worth 73tn
electroic xfer = 19b worth 544 tn

exfer, in other words, is 19/612 = 3% of xactions but 544/618 = 88% of
value.

Interesting.