Why did DigiCash fail?

In the realm of digital currency and finance, DigiCash once held the promise of revolutionizing anonymous and secure online transactions. However, its eventual failure begs the question: why did DigiCash fail? Was it due to technical shortcomings in its encryption methods? Or was it a matter of market positioning and strategy, with DigiCash unable to capitalize on the early stages of digital currency adoption? Perhaps it was a combination of both, with regulatory hurdles and a lack of public awareness also contributing to its demise. Understanding the reasons behind DigiCash's failure could provide valuable insights for current and future cryptocurrency projects.