The future of digital currency

The currency reflects an electronic treaty that is electronically stored in a bank and constitutes one of three forms of electronic money. Although banknotes are still used globally, up to 80% of the world's currency is stored electronically through banks. From infancy, it has evolved from an alternative to a major form of e-commerce and can only continue to grow.

Origin
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  The first digital currency was created during the first Internet bubble in the early 21st century. Named E-Gold, it was founded in 1996 by Gold & Silver Reserve Inc., allowing users to electronically transfer small amounts of gold. In the spring of 2000, it became the first electronic currency to offer exchange services for other treaties.

It started two years before the start of PayPal, and by 2004 it had more than one million accounts. Another service, starting in 2006, Liberty Reserve, allows its customers to convert euros or dollars into Liberty Reserve funds before returning. Unfortunately, shortly after the US government revealed that criminals were using these sites, they were closed.

The difference between virtual, digital and cryptocurrency
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  While more and more banks are allowed to increase e-banking, virtual currency operates as an independent fund whose value is created by its original supporters. However, the world's most famous virtual currency bitcoin does not meet this specification, but encompasses all aspects of all three forms of electronic money.

Digital currency is different because the value of asset support is comparable to the real world. Since most of the world's money is stored in bank computers, it can be said that most of the world's currencies are now digital.

A cryptocurrency is a form of electronic money whose conversion is encrypted. Blockchains are used to store data, which are effectively linked together and act as a ledger that users can use to maintain data consistency. Values ​​tend to fluctuate because of the variety of ways in which prices are affected. Although cryptocurrencies do have a certain degree of anonymity, the law still requires some people to disclose their identities.

The future of the transaction
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  As more and more banks use digital currency as the primary form of electronic records, and the emergence of more and more virtual and encryption contracts, it can be said that future transactions in the world will be set up to be electronically connected. Maybe a hundred years later, paper money can almost become a thing of the past.

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