Nigeria, Ghana sprint to join digital currency race
Nigeria and Ghana are racing to adopt a central bank digital currency as they look to ride the wave of popularity of cryptocurrencies in West Africa's two largest economies.
Sep 22, 2021
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Business
Nigeria and Ghana are racing to adopt a central bank digital currency as they look to ride the wave of popularity of cryptocurrencies in West Africa's two largest economies.
Sep 22, 2021
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Business
El Salvador on Tuesday became the first country to use bitcoin as legal tender, alongside the US dollar. But how will it work?
Sep 9, 2021
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Business
Stablecoins are a type of cryptocurrency linked to an asset like the U.S. dollar that doesn't change much in value.
Jul 29, 2021
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Business
The European Central Bank inched closer to a "digital euro" on Wednesday with the formal launch of a pilot project, but questions remain about potential pitfalls and benefits for eurozone citizens.
Jul 14, 2021
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Security
When Apple announced in a 2019 blog post that it had patched a security vulnerability in its iOS operating system, the company sought to reassure its customers. The attack that had exploited the vulnerability, Apple said, ...
May 24, 2021
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Internet
Twitter on Thursday began letting some users add virtual tip jars to accounts so people can support their tweets by tossing in money.
May 7, 2021
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Business
An announcement by General Motors that it would invest more than $1 billion at a Mexican factory that will build electric vehicles has angered the United Auto Workers union.
Apr 30, 2021
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Business
Twitter chief Jack Dorsey on Friday put out word that he and rap mogul Jay-Z are creating a fund devoted to making bitcoin digital money "the internet's currency."
Feb 13, 2021
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Business
Delta Air Lines plans to return 400 pilots to regular flying duties by this summer in a sign that it expects travel to increase over the peak vacation season from current, low pandemic levels.
Jan 25, 2021
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Business
Nasdaq agreed to acquire Verafin, a Canadian financial fraud-detection company, for $2.75 billion, the companies announced Thursday.
Nov 19, 2020
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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