Electronic Currency

In this century, many transactions are though by electronic currency. Electronic currency is most popular in the consumer mind, because electronic currency is easier acceptance by the consumer. Electronic money (also known as e-money, electronic cash, electronic currency, digital money, digital cash or digital currency) refers to money or scrip which is exchanged only electronically.

Typically, this involves use of computer networks, the internet and digital stored value systems. Electronic Funds Transfer and direct deposit are examples of electronic money. Also, it is a collective term for financial cryptography and technologies enabling it.

Technically electronic or digital money is a representation, or a system of debits and credits, used (but not limited to this) to exchange value, within another system, or itself as a standalone system, online or offline. Also sometimes the term electronic money is used to refer to the provider itself.

A private currency may use gold to provide extra security, such as digital gold currency. An e-currency system may be fully backed by gold (like e-gold and c-gold), non-gold backed, or both gold and non-gold backed (like e-Bullion and Liberty Reserve). Also, some private organizations, such as the US military use private currencies such as Eagle Cash.Many systems will sell their electronic currency directly to the end user, such as PayPal and Web Money, but other systems, such as e-gold, sell only through third party digital currency exchangers.

In conclusion, with using electronic currency, it make our life became easy and not need have to keep a lot of money in the purse.