#25unit 2e commerce payment system
Digital cash
Electronic currency that behaves like cash.
Unit 2E-Commerce Payment SystemTopic #25Published
Digital cash
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Digital cash is an alternative payment system in which unique, authenticated tokens generated by an algorithm represent cash value that can be used in the real world. Bitcoin is the best-known example; virtual currencies, by contrast, circulate within internal virtual world communities.
- Define digital cash and distinguish it from virtual currencies.
- Explain how Bitcoin generates and transfers value.
- Identify the anonymity and security characteristics of digital cash.
- Recognise the regulatory and trust challenges of digital cash.