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 car as we know it is on the way out. To a large extent, I deplore its passing, for as a basically old- fashioned machine, it enshrines a basically old-fashioned idea: freedom. In terms of pollution, noise and human life, the price of that freedom may be high, but perhaps the car, by the very muddle and confusion it causes, may be holding back the remorseless spread of the regimented, electronic society.”
—J.G. (James Graham)
“What money is better bestowed than that of a schoolboy’s tip? How the kindness is recalled by the recipient in after days! It blesses him that gives and him that takes.”
—William Makepeace Thackeray (1811–1863)
“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)