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.
Read more about this topic: Electronic Money
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)
“I am unbalanced but I am not mad with snow.
I am mad the way young girls are mad,
with an offering, an offering . . .
I burn the way money burns.”
—Anne Sexton (1928–1974)
“Before anything else, we need a new age of Enlightenment. Our present political systems must relinquish their claims on truth, justice and freedom and have to replace them with the search for truth, justice, freedom and reason.”
—Friedrich Dürrenmatt (1921–1990)