Example of A Fully Digital Complementary Currency
Bitcoin is a decentralized digital complementary currency. Bitcoin has no central issuer; instead, the peer-to-peer network regulates Bitcoins' balances, transactions and issuance according to consensus in network software. In 2012, BitPay reports of having over 1000 merchants accepting Bitcoin under its payment processing service.
Read more about this topic: Complementary Currency
Famous quotes containing the words fully and/or currency:
“One of the most significant effects of age-segregation in our society has been the isolation of children from the world of work. Whereas in the past children not only saw what their parents did for a living but even shared substantially in the task, many children nowadays have only a vague notion of the nature of the parent’s job, and have had little or no opportunity to observe the parent, or for that matter any other adult, when he is fully engaged in his work.”
—Urie Bronfenbrenner (b. 1917)
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)