What Are Electronic Currency and Digital Currency (Are Electronic Currency and Digital Currency the Same)?

08/14/2023 17:19 • Digital Disruptors • 53 views

What are electronic currency and digital currency? What are electronic currency and digital currency?

Are electronic currency and digital currency the same?

Editor’s Note: This article is from Orange Book (ID: chengpishu) and is authorized to be reproduced by Odaily Planet Daily.

Recently, a form of digital currency called “electronic currency” has emerged in the blockchain world, which is a peer-to-peer payment method. In the traditional banking system, “electronic currency” (e-money) is exchanged for an equivalent amount of paper currency or cash through a basket of legal tender and a single account. If it is used as a settlement method, there will be no legal tender, and encrypted currency can be used at this time. The difference between electronic currency and the traditional financial system is that electronic currency is a currency or value storage tool issued by the government. People consider this currency as a legitimate and credit-recorded asset, such as the US dollar or the Chinese yuan, but they are circulating in some form of currency form. For example, internet-based service providers like Alipay can provide electronic wallets, and mobile applications like WeChat can also be used as payment methods for buying and selling Bitcoin. So, why introduce electronic currency? Because it is digitized, and after digitization, it becomes electronic currency. What is electronic currency? We all know that electronic currency is developed by central banks of various countries. However, due to its anonymity, many countries have not introduced their own electronic currency. That is to say, most countries do not support issuing their own digital currency, but choose to transfer their own currency to the citizens of other countries. Therefore, many countries have already started accepting electronic currency. Electronic currency is mainly used to facilitate daily transaction activities, including purchasing products and services for small-scale retail goods, such as food delivery and shopping services, and conducting cross-border transfers using them.

The main features of electronic currency are highly secure and easy to carry. For example, users can directly scan the email address through their mobile phones, confirm the information to be sent, and complete the fund transfer without any intervention from third parties, thus achieving real-time account transfer; moreover, because electronic currency itself can track users’ identity information without going through central authority verification, it cannot be tampered with and can circulate seamlessly worldwide. Of course, some countries may not allow this new payment method, but in fact, electronic currency is likely to become the mainstream currency in the future. So, theoretically, electronic currency is not an indispensable part of the digital economy era, and it can even be said to be one of the greatest progress in human civilization history. On October 15, 2020, People’s Daily published an article stating that Cai Qi, Vice President of the China Development Research Institute of Renmin University of China, said in a speech that China is currently in an important stage during the COVID-19 pandemic and the subsequent epidemic prevention and control process. In the future, it should continue to maintain a stable operating situation, strengthen international cooperation, and promote research and innovation of digital currency. “In the past few years, research on digital currency in China has gradually become hot, and two more tasks have been added in the first half of this year.” According to reports, as of the end of May 2018,

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/08/14/what-are-electronic-currency-and-digital-currency-are-electronic-currency-and-digital-currency-the-same/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

What Are Electronic Currency and Digital Currency (Are Electronic Currency and Digital Currency the Same)?

Are electronic currency and digital currency the same?

Recommended articles