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)
“In past years, the amount of money that has had to be been spent on armaments, great and small, instead of on productive industry and agriculture and the arts, has been a disgrace to all of us in every part of the world.”
—Franklin D. Roosevelt (1882–1945)
“The only people who treasure systems are those whom the whole truth evades, who want to catch it by the tail. A system is just like truth’s tail, but the truth is like a lizard. It will leave the tail in your hand and escape; it knows that it will soon grow another tail.”
—Ivan Sergeevich Turgenev (1818–1883)