There are currently three basic types of digital currencies in development or circulation. Central bank digital currencies: A growing list of money-issuing governments is considering issuing digital versions of their fiat currencies, known as central bank digital currencies (CBDC). For example, China is testing its digital renminbi (e-RMD) to facilitate cross-border payments and circumvent existing […]
Money
What is Digital Currency?
As technology advances, so, too, does digital currency. An early form of digital-based money was the electronic exchange of cash between bank accounts or an electronic payment utilizing credit. This still takes place mostly by debit or credit card, with bank-to-bank electronic wires, an online payment system, or the use of a smartphone that carries […]
