What is money?

  • Authors:
  • Ray Byler

  • Affiliations:
  • Lyon College, Batesville, Arkansas

  • Venue:
  • Proceedings of the 2nd annual conference on Mid-south college computing
  • Year:
  • 2004

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Abstract

Do you really know what money is? Most of the money that exists today doesn't exit as greenbacks in someone's wallet or gold in a Vault, but as 1's and 0's in some computer. What exactly is money then, and how does digital money differ from "real" money? This paper explores the nature of digital money, how it is created, used, stored, safeguarded, and transferred. Several digital money implementations are reviewed including: ecash, CyberCast, NetCash, NetCheque, and iKP.