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 war was won on both sides: by the Vietnamese on the ground, by the Americans in the electronic mental space. And if the one side won an ideological and political victory, the other made Apocalypse Now and that has gone right around the world.”
—Jean Baudrillard (b. 1929)
“But it takes a lot of money to live freely by the sea.”
—Albert Camus (1913–1960)
“No civilization ... would ever have been possible without a framework of stability, to provide the wherein for the flux of change. Foremost among the stabilizing factors, more enduring than customs, manners and traditions, are the legal systems that regulate our life in the world and our daily affairs with each other.”
—Hannah Arendt (1906–1975)