Sunday, February 15, 2009

Electronic Currency

First of all Electronic currency is also known as electronic money, it is a website that turn the money into electronically. Technically electronic or digital money is a representation is used to exchange value, within another system, or itself as a standalone in online or offline system. Also sometimes the term electronic money is used to refer to the provider itself.

Electronic currency also allows its holder to buy the goods and services that the vastness of the internet offers. An e-currency system may be fully backed by gold (like e-gold and c-gold), non-gold backed, or both gold and non-gold baked (like e-Bullion and Liberty Reserve).

The main focuses of electronic currency is to development that are being able to use it through a wider range of hardware such as secured credit cards and linked bank accounts that would generally be used over an internet means, for exchange with a secure micropayment system such as in large corporations for example like paypal, it is the most successful e-currency website that give 100% trust to consumer shop in internet.

This electronic currency can bring many negative issue such as doing the money laundering where the illegal money transform into legal money. Next it also there are also a potential macroeconomic effect such as exchange rate in a not stable ways and shortage of money supplies.

Related link

No comments:

Post a Comment