Electronic Commerce and Electronic Money - Co-operative efforts undertaken at the Bank for International Settlements (BIS)

[Comments by panelist Mr. Gregor C. Heinrich(*) at the Session "Worldwide Electronic Commerce: Chances, Risks, and Impications", Conference on "Trends in Electronic Commerce", Hamburg, Germany, 5th-8th June 1998.]   

"The invention of the computer is the greatest contribution to the quality of human life since the development of language" (1)  

"E-commerce is big, fast and growing, and those who do not get onboard will be left at the station" (2)   


Harmonised Global Interchange ? UNCITRAL's draft model law for Electronic Data Interchange.

 EDI Developments (1)  

Traditionally, companies have always conducted and documented a large part of their business on paper. Paper transactions went along with well-developed mechanisms and legal concepts for proving origin, preventing repudiation and maintaining confidentiality. This paper-based tradition is increasingly being abandoned in favour of EDI. EDI is changing the way major companies conduct business, both nationally and across international boundaries.