History of Electronic and Virtual Currencies

Inside every working anarchy there's an Old Boy Network. The internet is a great and popular invention that has changed, developed and improved today’s society. Yo-Yo Ma, once described the famous historical Silk Road as the ‘Internet of Antiquity’ meaning, the ancient internet, how and why would Yo-Yo Ma come to such a theory, the Silk Road and the internet may not have existed during the same period of time but there are similarities and difference to prove Yo-Yo Ma’s theory.

Cryptocurrency is a digital asset that serves as a medium of exchange with no central authority and was created to prevent the issue of double spending. This problem is solved with the use of blockchains where miners confirm transactions on a public ledger. As of today, there are over 1,000 different types of cryptocurrencies, and at least 600 of these have listed market caps of over $100,000. Bitcoin, Ethereum and Litecoin are top cryptocurrencies trading today with their combined market cap topping $331B. Bitcoin, created in 2009, is the biggest cryptocurrency and has recently reached a net value of over $270 billion, with much of its growth being in the last few months. This has led to much

The Silk Road was an exchange system the joined the East toward the West on the Eurasian mainland. This exchange included both overland and oceanic courses. The focal Asian kingdoms and people groups turned into the nexus point for quite a bit of this exchange which kept going from the third century B.C.E. to the fifteenth century C.E. Numerous items and other social expressions moved along the Silk Road and diffused among different kingdoms along it. In separating and isolating the examples of connection that happened along the Silk Road from 200 B.C.E. to 1450 C.E., one can infer that progressions and coherencies in these associations included items exchanged (changes in particular items and sway, congruity in extravagance products),

1. Early currency issues in America-In 1690, early Americans in the Massachusetts Bay Colony were the first to issue paper money in the colonies to meet the high demand for trade,also a response to the shortage of coins, which were primarily used as money at the time.

Money in the United States, a model of what gold and silver can do for a country. The goal of the US Federal Reserve is to have more money in their vaults than they have out. Thats the core-essential difference in other countries and the U.S.

There’s a new currency gaining prominence in American culture; it’s the currency of offense. This currency is based on the perceived value of victimization and people buy, sell and trade with it every day. The pictures on the bills change with the daily news. This particular currency uses the leverage of impugned guilt, and promises gratifying profits in the form of entitlements, forced cultural acceptance and indignation.

• Through the interpreter, I will explain my assessment findings again and the potential that the patient might be having an ectopic pregnancy and on the seriousness of this life-threatening situation, as well as the need for urgency for the proper diagnosis and treatment and the safety implication it will have on the patient if medical care is not provided in a timely manner which would be a poorer patient outcome. I will also ensure the patient and the spouse that physician and I will do everything possible to ensure the patients privacy such as covering the patient as much as possible and having the husband present in the room at all time during the procedure. This will show the patient and her husband that you are respectful of the patients

In today’s economy, cash or a credit card is needed to meet the basic human needs. It is an apparent fact that we need cash or credit cards to purchase items such as food, clothing, and to buy gas. Also, when you are out shopping and discover that you have used all the cash in your possession, it is then that you realize that the advantage of having a credit card. Furthermore, with cash, you are restricted to the amount in your wallet or purse; however, a credit card allows you to pay for your purchase at a later date. Both cash and credit cards can be useful when you manage them wisely. While cash and credit cards are similar in that they both are readily accessible, used for goods and services at the time of purchase, they are dissimilar because of theft, high- interest rates, identity theft.

Currency acts as a store of value, a medium of exchange and a unit of account. Physical currencies are promissory notes payable to the bearer on demand. Digital currencies are internet-based form of currency. They represent both developments in payment systems and a new type of currency. Digital currencies, in hypothesis, serve as money, at present day they act as money to a small amount of individuals and institutions. It has been often questioned as whether the decentralised digital currency, such as Bitcoin and Litecoin, will emerge as the preferred method of payment for Internet Services or will remain a superficial payment method compared to well established existing payment systems.

Picture this, you are purchasing your favorite drink and as you reach for your wallet, the only option you have for paying is electronically. That could become the case if we become a cashless society. You will see what a cashless society is and what it all entails. With disturbing someone’s privacy to the results of hijacking electronic accounts, cashless societies can have some advantages and disadvantages. As a list of countries that have already made the surface of topic when it comes to cashless societies, you will see how much of a difference cash is being used today as in years before. Cashless societies are creeping up upon people without them realizing it, but becoming aware of it could help people as they enter into the future.

Electronic cash is a term becoming more acceptable as the world makes a shift towards a cashless society. Since the 1960’s governments and financial institutions have made steady but slow steps towards the goal of a society without cash. The cashless society is being sold as a more convenient method of payment, and a method of preventing crimes all the way from the robbery of cash from an individual to the extent of money laundering among crime syndicates.

     In the present day, the world's economy is ever-changing and adjusting. Many different reasons control the reasons for this. The future of currency is something that can only be predicted and is not guaranteed. However, there are many determing factors behind the changes that can take place. Asia and North America are two continents that have economies that have recently changed or are in the midst of change.

First, if it's still an international concept for you, cryptocurrency is any of a number of digital money that can be made use of for online deals without intermediaries such as financial institutions. Without financial institutions, cryptocurrency can be traded and made use of for business between 2 or even more individuals without the oversight-- as well as expense-- of those intermediaries.

Bitcoin (BTC), a cryptocurrency, is a type of digital currency which was introduced in 2009 by pseudonymous developer "Satoshi Nakamoto". Since then 12 million bitcoins have come into existence with a current market cap of around 8 billion USD [1]. The algorithm is designed as to allow only 21 million BTC to come into existence ever. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network [2]. Bitcoin is not the first attempt. But none have managed before to take off so dramatically and with such wide adoption to achieve escape velocity. The questions which are important now are how the bitcoin managed this success in

To start off primarily, Bitcoin is a digital currency as opposed to physical currency that we’re accustomed to and use in our daily life. Straight off their site, Bitcoin is described as a pseudo-anonymous, P2P technology operating with no central authority or banks, it’s open-source, public, owned by no one and open for everybody to take part; but what does that all mean? “Bitcoin is the leader in a new generation of emerging currencies known as “cryptocurrencies” which aim to, among other things, facilitate the movement of money electronically while still maintaining a sense of privacy,” (Hobson)