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Digital currency. Digital currency ( digital money, electronic money or electronic currency) is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency.
Digital fiat currency is part of the base money supply, together with other forms of the currency. As such, DFC is a liability of the central bank just as physical currency is. It is a digital bearer instrument that can be stored, transferred and transmitted by all kinds of digital payment systems and services. The validity of the digital fiat ...
Transfer payments to (persons) as a percent of federal revenue in the United States Transfer payments to (persons + business) in the United States. In macroeconomics and finance, a transfer payment (also called a government transfer or simply fiscal transfer) is a redistribution of income and wealth by means of the government making a payment, without goods or services being received in return ...
Virtual currency. Virtual currency, or virtual money, is a digital currency that is largely unregulated, issued and usually controlled by its developers, and used and accepted electronically among the members of a specific virtual community. [1] In 2014, the European Banking Authority defined virtual currency as "a digital representation of ...
Bankrate insight. According to Visa’s Digital Transformation of SMBs, small businesses took 542 hours to process $100,000 in non-digital payments versus 189 hours in digital payments.Those are ...
Unified Payments Interface (UPI) Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.
Digital renminbi ( Chinese: 数字人民币; also abbreviated as digital RMB and e-CNY ), [1] or Digital Currency Electronic Payment ( DCEP, Chinese: 数字货币电子支付; pinyin: Shùzì huòbì diànzǐ zhīfù ), is a central bank digital currency issued by China's central bank, the People's Bank of China. [2] It is the first digital ...
Technology scouting. v. t. e. In a cashless society, financial transactions are not conducted with physical banknotes or coins, but instead with digital information (usually an electronic representation of money). [1] [2] Cashless societies have existed from the time when human society came into existence, based on barter and other methods of ...