I am used to Electronic money, Digital money. I mean my internet banking, bank cards. I keep some pennies in my pocket only for tips, rail and bus. I remembered one time I was in traveling, I can’t pay my tips at the airport, I felt so embarrassed.
There are several forms of dematerialized currencies appeared in the 80s bolstered by the increased use of prepaid cards, such as telephone cards. Three types of emerging monies, all of which are dematerialized, will be discussed: electronic money, virtual money, and digital money.
Electronic Money
Electronic money can be a monetary value measured in fiduciary units that is stored in an electronic device owned or available to the consumer. It is thus a movable scriptural means of payment that carries the values in units of payment in an electronic store. This corresponds to a binary form of scriptural money, stored on portable support such as a smart card. The scriptural character of the electronic money is related to the status of the issuer (since it is not issued by the central bank) and to the traceability of the transactions and the movement of money. (more…)
