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:
“Sometimes, because of its immediacy, television produces a kind of electronic parable. Berlin, for instance, on the day the Wall was opened. Rostropovich was playing his cello by the Wall that no longer cast a shadow, and a million East Berliners were thronging to the West to shop with an allowance given them by West German banks! At that moment the whole world saw how materialism had lost its awesome historic power and become a shopping list.”
—John Berger (b. 1926)
“Of course, money will do after its kind, and will steadily work to unspiritualize and unchurch the people to whom it was bequeathed.”
—Ralph Waldo Emerson (1803–1882)
“The skylines lit up at dead of night, the air- conditioning systems cooling empty hotels in the desert and artificial light in the middle of the day all have something both demented and admirable about them. The mindless luxury of a rich civilization, and yet of a civilization perhaps as scared to see the lights go out as was the hunter in his primitive night.”
—Jean Baudrillard (b. 1929)