Tag: Digital Currency
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What is Bitcoin and How It Works
Bitcoin is a decentralized digital currency that can be sent electronically from one user to another. It was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto, and it has since grown to become the world’s largest cryptocurrency by market capitalization. Unlike traditional currencies, which are issued and…
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WebMoney Digital Payment System
WebMoney is a digital payment system that allows users to make transactions online. It was first launched in Russia in 1998 and has since grown to become a popular method of payment in countries such as Russia, Ukraine, Belarus, and Kazakhstan. The system is based on a proprietary currency called “WebMoney units” (WM), which can…
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What is E-Gold? A Brief History of E-Gold and its Legal Troubles.
E-Gold was a digital gold currency operated by Gold & Silver Reserve Inc. (G&SR) under e-gold Ltd. that allowed users to open accounts denominated in grams of gold (or other precious metals) and make instant transfers of value (transactions) to other e-gold accounts. These transactions were settled within 24 hours and the gold backing the…
