What is Electronic currency or money? The Electronic currency is known as e-money, digital currency and digital cash which refer to the money which is exchanged only electronically. The electronic currency which is involved use of the computer networks through the internet and digital stored value systems. Examples of the E-currency are Electronic Funds Transfer (EFT) and direct deposit.
The main focuses of the E-currency development are focused the following:
• Being able to use it through a wider range of hardware like secured credit card
• Linked bank accounts that would generally be used over the internet which to exchange with the secure micropayment system.
• Being able to use it through a wider range of hardware like secured credit card
• Linked bank accounts that would generally be used over the internet which to exchange with the secure micropayment system.
Nowadays, the E-currency is widely used by the internet as the medium of internet related commercial actions such as online shopping and etc. The services of e-currency is allows people to use their credit card to make their payment. So, the electronic currency is provide many advantages which are convenience and privacy because the e-currency just only the transaction at the internet not like the traditional way, the e-currency can do it at anywhere that have a computer, so that is very convenience to the users. Besides, the others benefits are lower transaction fees, increased efficiency of transactions and it will increase many new opportunities with the expansion of economic activities on the internet. However, there has a big risk for the e-currency which is required to provide the owners credit card information to the merchant that they do no know them very well.
The e-currency service companies such as e-gold, paypal and EMO can provide both the buyers and merchant the convenient way to send and receive the payment just by clicking the button and the deal is done. None of the payment methods in the world right now can provide this kind of efficiency capability.
Types of E-currencies
(1) Hard Curreny - PayPal
PayPal is the serves as an electronic alternative to the traditional paper methods like cheques and money orders.
(2) Precious metal – e-gold
E-gold is a digital gold currency which operated by Gold & Silver Reserve Inc., and backed by gold
(3) Non-gold backed or both gold examples such as e-bullion
Related Links:
http://en.wikipedia.org/wiki/Electronic_money
http://en.wikipedia.org/wiki/PayPal
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1 comments:
Thanks for sharing those information. I agree that nowadays, the E-currency is very popular, sometime I also will use E-cash to pay my bil. But now I knew that there are many type of E-currency.
Really thanks a lot.
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