Why is the ECB eyeing a 'digital euro'?
The European Central Bank will on Monday launch a public consultation and start experiments to help it decide whether to create a "digital euro" for the 19-nation currency club.
Oct 11, 2020
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Business
The European Central Bank will on Monday launch a public consultation and start experiments to help it decide whether to create a "digital euro" for the 19-nation currency club.
Oct 11, 2020
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19
Business
Airline employees and executives made 11th-hour appeals Wednesday for Congress to approve billions more in federal aid to avert thousands of layoffs that are scheduled to start Thursday.
Sep 30, 2020
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Security
The US Justice Department on Wednesday announced charges against five Chinese nationals and two Malaysians who ran global hacking operations for at least six years to steal identities and video game technology, plant ransomware, ...
Sep 16, 2020
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Business
United Airlines says it listened to customers and is dropping an unpopular $200 fee for most people who change a ticket for travel within the United States.
Aug 31, 2020
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Computer Sciences
Money laundering is big business but wholly illegal big business. It has an enormously negative impact on local, national, and international economies as well as providing the financial means to fund other criminal activities ...
Aug 10, 2020
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Spirit Airlines has warned up to 30% of its employees that they will lose their jobs in October, and regional carrier ExpressJet's future is in doubt after losing a key contract as the virus pandemic continues to hammer the ...
Jul 31, 2020
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Security
New Zealand police said Monday they have seized $90 million from Alexander Vinnik, a Russian bitcoin fraud suspect who is in French custody but is also wanted in the United States.
Jun 22, 2020
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Internet
Facebook on Monday added a digital payments feature to its WhatsApp messaging service, starting in Brazil but with an eye to expanding around the world.
Jun 15, 2020
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Engineering
A virtual paper-making machine makes it possible to test run and optimize operations without costly downtime in the industry. New research at Karlstad University saves money and spares the environment.
Mar 3, 2020
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Two Chinese nationals were charged Monday with laundering over $100 million in cryptocurrency that had been stolen by North Korean hackers, U.S. prosecutors said.
Mar 2, 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