Electronic currency is also known as e-money, electronic cash, digital money, digital cash or digital currency which refer to money or scrip that is exchanged only electronically. Electronic currency involves the use of computer networks, internet and digital stored value systems. It may only exist in the cyber world, but that is nothing new about it.
Electronic currency will possible like public-key cryptography and digital signatures make e-money possible. A private key known only to the owner, and a public key, made available to everyone. Whatever the private key encrypts, the public key can decrypt, and vice verse. (You all should know what's public key,private key and how it works as Miss Esther did explain in the last tutorial!)
Examples of how electronic currency are used are such as Hong Kong's Octopus Card system which s
tarted as a way to pay for transit payments but has now progressed to an electronic cash system, Singapore's FeliCa card and Nether
lands Chipknip which has the same use as Hong Kongs Octupus Card, and Malaysia's Touch 'n Go card.There are two difference types of electronic currency: identified e-money and anonymous e-money (also known as digital cash). Identified e-money contains information revealing the identity of the person who originally withdrew the money from the bank. Also, in much the same manner as credit cards, identified e-money enables the bank to track the money as it moves through the economy. Anonymous e-money works just like real paper cash.
Once anonymous e-money is withdrawn from an account, it can be spent or given away without leaving a transaction trail. You create anonymous e-money by using blind signatures rather than non-blind signatures. Online means you need to interact with a bank (via modem or network) to conduct a transaction with a third party. Offline means you can conduct a transaction without having to directly involve a bank. Offline anonymous e-money (true digital cash) is the most complex form of e-money because of the double-spending problem.
Electronic currency allows its holder to buy the goods a
nd 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).
nd 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). Electronic currency trading can let you to do business and earn only few dollars of investment. In fact, some of the experts will suggest the beginners to start with only a few dollars so that they can first learn the ropes of electronic currency. Besides that, electronic currency trading has a low transaction cost. Unlike other businesses that will eat up your profit with a huge amount of fees, it allows you to do business with minimal fees and give you more profit and money. There are few websites examples that can let people to do e-currency tradings such as MG E-currency, JT GOLD.com
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