A digital currency is any tradeable value generated by and administered via information technology (therefore in digital form).
Fiat money is, for all practical purposes, becoming more and more digital as consumers use electronic money more than cash. Since fiat money still has a physical representation in the form of paper money and metal coins, it's not considered fully digital. When central banks issue currency, they do not necessarily print the corresponding notes. Much of the banking system runs on digital form only. Fiat money only becomes visible when it is issue in physical form by a mint.
Pure digital currencies include Bitcoin and all cryptocurrencies. Minted Bitcoins and other physical representations of Bitcoin are mere souvenirs, designed as gifts and as a curiosity only. There is no physical form of any cryptocurrency. Paper wallets are simply encoded numbers printed for security and storage convenience. They do not represent a unit of cryptocurrency at all. The main digital currency trait is that of it being transferable without national border limits. For example, a Bitcoin transaction is country agnostic and can be executed wherever there is a internet connection and the appropriate software client.
Report: Leading Japanese Shipping Line to Introduce Its Own Digital Currency
Japan's major shipping operator Nippon Yusen K.K. is reportedly introducing its own digital currency to enable marine workers to more easily convert money into local currencies. Japan's largest shipping operator Nippon Yusen K.K. will reportedly launch its own digital currency so marine workers can more easily convert money into their local currencies Japanese shipping company Nippon Yusen K.K. (NYK) is reportedly launching its own digital currency for crew members, Bloomberg reported Nov. 20. Established in 1885, Nippon Yusen is Japan's largest shipping line in terms of sales. From April 1 to Sept. 30, 2018, NYK Group's consolidated revenue was 915.6 billion yen ($8.1 billion).
This article was obtained by us on November 22, 2018 2:51 AM.
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