Digital Currency Refers To The Electronic Form Of Fiat Money Issued By Governments.
A consensus seems to have emerged among various stakeholders that a currency, which can?t be produced in a physical form, is a virtual currency like bitcoin etc. In 2012, the european central bank defined virtual currencies as a ‘type of unregulated, digital money which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual. Financial technologists worldwide have been trying to define and differentiate among cryptocurrency, digital currency and virtual currency.
It’s Only Available In Digital Or Electronic Form And Unlike A Dollar Bill Or A Coin, It’s Intangible.
Virtual currency is an unregulated digital currency that only exists in virtual format. Electronic money refers to the currency electronically stored on electronic systems and digital databases, as opposed to physical paper and coin money, and is used to make it easier for users to transact electronically. This brief will summarize china’s developing regulatory regime covering this new, virtual economy.
Digital Currency Is The Blanket Term Used To Describe All Electronic Money, That Includes Both Virtual Currency And Cryptocurrency.
A virtual currency is a digital representation of value only available in electronic form. Generally, you need a wallet, mobile or web application to perform it. Digital currencies, which can only be owned and spent using electronic.
Wanting To Purchase Virtual Goods, He Simply Pays His Credit Card Or Other Possible Means (Electronic Money).
A regulated digital currency is issued by a country’s central bank and can be denominated to a sovereign currency. It can be regulated or unregulated. Any natural or legal person can electronically transfer, store and trade virtual currency.
Online Payments, Virtual Currency, Electronic Currency And Electronic Payments Are Key To The Full Realization Of The Potential Of The Internet.
This electronic representation of monetary value can be used as a payment. The kernel of the idea is that a smart banknote—which can be activated or deactivated electronically by. Virtual currency, electronic money and electronic payments