Energy & Green Tech

Mining bitcoin uses more energy than Denmark: study

Extracting a dollar's worth of cryptocurrency such as bitcoin from the deep Web consumes three times more energy than digging up a dollar's worth of gold, researchers said Monday.

Internet

Facebook takes on the world of cryptocurrency with 'Libra' coin

Facebook unveiled plans Tuesday for a new global cryptocurrency called Libra, pledging to deliver a stable virtual money that lives on smartphones and could bring over a billion "unbanked" people into the financial system.

Business

Facebook-backed Libra unveils revamped digital money project

The Facebook-backed Libra Association unveiled plans Thursday to seek approval for digital coins in individual currencies, revamping its cryptocurrency initiative in a move aimed at minimizing disruption to the global monetary ...

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Currency

In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of bank deposits (sometimes called deposit money), ownership of which can be transferred by means of cheques, debit cards, or other forms of money transfer. Deposit money and currency are money in the sense that both are acceptable as a means of payment.

Money in the form of currency has predominated in human civilizations from about 10,000 BCE on. Usually (gold or silver) coins of intrinsic value (commodity money) have been the norm. However, nearly all contemporary money systems are based on fiat money – modern currency has value only by government order (fiat). Usually, the government declares the fiat currency (typically notes and coins issued by the central bank) to be legal tender, making it unlawful to not accept the fiat currency as a means of repayment for all debts, public and private.

This text uses material from Wikipedia, licensed under CC BY-SA