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:
“Ideally, advertising aims at the goal of a programmed harmony among all human impulses and aspirations and endeavors. Using handicraft methods, it stretches out toward the ultimate electronic goal of a collective consciousness.”
—Marshall McLuhan (1911–1980)
““Give me the resurrection of the body!” said Dukes. “But it’ll come in time, when we’ve shoved the cerebral stone away a bit, the money and the rest. Then we’ll get a democracy of touch, instead of a democracy of pocket.””
—D.H. (David Herbert)
“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)