We have developed a new superconducting digital technology, Reciprocal Quantum Logic, that uses AC power carried on a transmission line, which also serves as a clock. Using simple experiments we have demonstrated zero static power dissipation, thermally limited dynamic power dissipation, high clock stability, high operating margins and low BER. These features indicate that the technology is scalable to far more complex circuits at a significant level of integration. On the system level, Reciprocal Quantum Logic combines the high speed and low-power signal levels of Single-Flux-Quantum signals with the design methodology of CMOS, including low static power dissipation, low latency combinational logic, and efficient device count.