A4k>Kolnawa: what do you mean by e-money?
Answers and Views:
Answer by Reaper
sort of like gift certificates through email. you purchase credits or points ro whatever and can use that in place of having to dish out your credit card info everytime.
Electronic money
(also known as electronic cash, electronic currency, digital currency, digital money or internet money) refers to money which is exchanged only electronically. Typically, this involves use of computer networks, the internet and digital stored value systems. Electronic Funds Transfer (EFT) and direct deposit are examples of electronic money. Also, it is a collective term for financial cryptography and technologies enabling it.
While electronic money has been an interesting problem for cryptography (see for example David Chaum’s work), to-date use of digital cash has been relatively low-scale. One rare success has been Hong Kong’s Octopus card system, which started as a transit payment system and has grown into a widely used electronic cash system. Another success is Canada’s Interac network, which in 2000 at retail (in Canada) surpassed cash as a payment method.
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Answer by ag_iitkgpPaper money is a token of wealth issued by a govt. which is exchanged for goods and services. On the Net, instead of paper, data represents money
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