The currency refers to electronic electronic currencies in banks and is one of three forms of electronic money. Although paper money is still used globally, up to 80% of the global currency is electronically stored electronically. In its infancy, it is grown from an alternative to the realization of a company to a main form of electronic commerce and seems to continue to grow.
The first digital currency was created at the first internet bubble of the early 2000s. He was named E-Gold and was founded in 1996 by Gold & Sliver Reserve Inc., which allowed users to transfer small quantities of values electronic gold. In the spring of 2000, it became the first electronic currency to offer an exchange service for other currencies.
Launch of two years before Paypal, in 2004, he had more than one million accounts. Another service starting in 2006, Liberty Reserve has allowed its customers to convert Euros or dollars in Liberty reserve cash, then back. Unfortunately, shortly after his revelation by the US government that criminals used these websites and they were both closed.
The difference between virtual, digital and cryptocurrences
While more and more banks allow an increase in electronic banking, virtual currencies operate as independent money whose value is created by its original support. However, the most famous virtual currency in the world, Bitcoin, does not match this specification, encompassing aspects of three forms of electronic money.
The digital currency differs from that as a money saved by an asset is worth the equivalent of the real world of its value. Due to most world’s funds stored in banking computers, it can say that most currencies in the world are now digital.
Cryptocurpreces refer to electronic forms of money whose transitions are encrypted. Using block strings To store data, they are effectively linked together and act as gampets that users can use to maintain a consistent track of the data. Due to the diversity of ways, its price can be done, it often fluctuates in value. Although cryptocurrences have an associated degree of anonymity, some are always required by law to disclose the identities of their users.
The future of transactions
With more banks that turn to digital currencies as a primary form of keeping electronic recordings and the growing emergence of a wide variety of virtual currencies and crypto-currencies, it can be said that the future of transactions. world will be settled on electronically. In perhaps a hundred years, the money of the paper could be practically a thing of the past.