Electronic Money Systems
In technical terms, electronic money is an online representation, or a system of debits and credits, used to exchange value within another system, or within itself as a stand alone system. In principle this process could also be done offline.
Occasionally, the term electronic money is also used to refer to the provider itself. A private currency may use gold to provide extra security, such as digital gold currency. Some private organizations, such as the United States armed forces use independent currencies such as Eagle Cash.
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Famous quotes containing the words electronic, money and/or systems:
“The new electronic interdependence recreates the world in the image of a global village.”
—Marshall McLuhan (1911–1980)
“The disaster ... is not the money, although the money will be missed. The disaster is the disrespect—this belief that the arts are dispensable, that they’re not critical to a culture’s existence.”
—Twyla Tharp (b. 1941)
“Not out of those, on whom systems of education have exhausted their culture, comes the helpful giant to destroy the old or to build the new, but out of unhandselled savage nature, out of terrible Druids and Berserkirs, come at last Alfred and Shakespeare.”
—Ralph Waldo Emerson (1803–1882)