Electronic currency is also known as e-money, electronic cash, digital money, digital cash or digital currency. It refers to money or script transferred electronically through computer networks, the internet or digitally stored value systems. Electronic currency will possible like public-key cryptography and digital signatures make e-money possible. A private key known only to the owner, and a public key, made available to everyone. Whatever the private key encrypts, the public key can decrypt, and vice verse. Examples of how electronic currency are used are such as Hong Kong's Octopus Card system which started as a way to pay for transit payments but has now progressed to an electronic cash system, Singapore's FeliCa card and Netherlands Chipknip which has the same use as Hong Kongs Octupus Card, and Malaysia's Touch 'n Go card.There are two difference types of electronic currency: identified e-money and anonymous e-money (also known as digital cash).Identified e-money contains information revealing the identity of the person who originally withdrew the money from the bank. Also, in much the same manner as credit cards, identified e-money enables the bank to track the money as it moves through the economy. Anonymous e-money works just like real paper cash.
Once anonymous e-money is withdrawn from an account, it can be spent or given away without leaving a transaction trail. You create anonymous e-money by using blind signatures rather than non-blind signatures. Online means you need to interact with a bank (via modem or network) to conduct a transaction with a third party. Offline means you can conduct a transaction without having to directly involve a bank. Offline anonymous e-money (true digital cash) is the most complex form of e-money because of the double-spending problem.
One of the primary benefits that electronic currency trading is that it allows doing business and earning with only a few dollars of investment. In fact, some electronic currency trading experts even suggest that beginners should start with only a few dollars so that they can first learn the ropes about electronic currency. Electronic currency trading does not demand much and it is really up to you if you want to increase your investment or not. With electronic currency trading you are given many opportunities to profit without spending too much on investment.
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