Africa grapples with way forward on cybercrime
Cyber experts are urging Africa to up its game in the face of criminals targeting the continent's fast-growing internet economy with scams and theft.
May 11, 2022
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Security
Cyber experts are urging Africa to up its game in the face of criminals targeting the continent's fast-growing internet economy with scams and theft.
May 11, 2022
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Business
Two former colleagues of tech entrepreneur Kim Dotcom have agreed to face online piracy charges in a New Zealand court in exchange for US extradition proceedings being dropped, authorities and the defendants said on Tuesday.
May 10, 2022
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Business
Tesla chief Elon Musk said Thursday he's not sure his $43 billion bid to buy Twitter will succeed, but asserted he has a "plan B" in case of failure.
Apr 14, 2022
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Business
A former Apple employee has been charged with defrauding the tech giant out of more than $10 million by taking kickbacks, stealing equipment and laundering money, federal prosecutors said.
Mar 20, 2022
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Energy & Green Tech
President Joe Biden highlighted his efforts to counter China's dominance of the electric battery market on Tuesday as he touted domestic efforts to mine and process lithium and rare metals necessary to create the technology ...
Feb 23, 2022
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Business
IRS criminal investigators see cryptocurrencies and nonfungible tokens as ripe for fraud, including money laundering, market manipulation and tax evasion—and even celebrities could get caught up in the agency's probes.
Jan 26, 2022
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Business
The Indian government wants to ban all private cryptocurrencies, with some exceptions, to pave the way for a digital money controlled by the central bank. But this may not be as drastic as it sounds.
Nov 24, 2021
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Business
Indian Prime Minister Narendra Modi on Thursday warned that bitcoin presents a risk to younger generations, sounding a hawkish tone as his government prepares to introduce legislation to regulate cryptocurrencies.
Nov 18, 2021
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Business
Elon Musk, the richest person in the world, says he will sell $6 billion worth of Tesla stock and donate the proceeds to the United Nations' food agency if it could show how the money would solve world hunger.
Nov 1, 2021
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Internet
The six-hour outage at Facebook, Instagram and Whatsapp was a headache for many casual users but far more serious for the millions of people worldwide who rely on the social media sites to run their businesses or communicate ...
Oct 5, 2021
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Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment.
Nearly all contemporary money systems at the national level are fiat money systems. Fiat money is without value as a physical commodity, and derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the national boundaries of the country, for "all debts, public and private". By law, the refusal of a legal tender (offering) extinguishes the debt in the same way acceptance does. Some bullion coins such as the Australian Gold Nugget and American Eagle are legal tender, however, they trade based on the market price of the metal content as a commodity, rather than their legal tender face value (which is usually only a small fraction of their bullion value).
The money supply of a country is usually held to consist of currency (banknotes and coins) and 'deposit money' (the balance held in checking accounts and savings accounts). These demand deposits usually account for a much larger part of the money supply than currency. Deposit money is intangible and exists only in the form of various bank records. Despite being intangible, deposit money still performs the basic functions of money, as checks are generally accepted as a form of payment and as a means of transferring ownership of deposit money.
More generally, the term "price system" is sometimes used to refer to methods using commodity valuation or money accounting systems.
This text uses material from Wikipedia, licensed under CC BY-SA