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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.
History of bitcoin. Bitcoin is a cryptocurrency, a digital asset that uses cryptography to control its creation and management rather than relying on central authorities. [1] Originally designed as a medium of exchange, Bitcoin is now primarily regarded as a store of value.
A cryptocurrency, crypto-currency, or crypto [a] is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. [2] It has, from a financial point of view, grown to be its own asset class.
Bitcoin wallets were the first cryptocurrency wallets, enabling users to store the information necessary to transact bitcoins. [85][8]: ch. 1, glossary The first wallet program, simply named Bitcoin, and sometimes referred to as the Satoshi client, was released in 2009 by Nakamoto as open-source software. [7]
The recent history of central bank digital currencies (CBDCs) has been marked by continuous exploration and development. By March 2024, over 130 countries were actively engaged in CBDC research with 3 countries, territories or currency unions having launched CBDCs, and 36 implementing pilot programs. [1]
A central bank digital currency (CBDC; also called digital fiat currency[ 1 ] or digital base money[ 2 ]) is a digital currency issued by a central bank, [ 3 ] rather than by a commercial bank. It is also a liability of the central bank and denominated in the sovereign currency, [ 4 ] as is the case with physical banknotes and coins. The two ...
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 value that is neither ...
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]