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Famous Quotes - digital banking
Banking has to work when and where you need it. The best advice and service in financial services happens in real time and is based on customer behaviour, using principles of Big Data, mobility and gamification. - Brett king
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What is a Digital Currency ?
It is the same as a fiat currency and is exchangeable one-to-one with the fiat currency. Fiat money is a Government-issued currency that is not backed by a commodity such as gold. As the name Indicates, digital currency issued by the central bank is legal tender in digital form. It is also often called C B D C [Central Bank Digital Currency]. Digital currency is a type of money that is only available electronically. Unlike banknotes and coins, digital currency is not available in physical form. We can transfer digital currency between users or entities using technology like smartphones, tablets, computers, or the Internet.As with traditional money, we can use digital currencies to purchase goods and services.
For Eg : Nigeria, which launched the e-Naira in October 2021, is a country recently issue a C B D C . Central bank digital currency ( C B D C ) is money that a central bank, like the Bank of England, Federal Reserve System etc can produce. It’s called digital (or electronic) because it isn’t physical money like notes and coins. It is in the form of an amount on a computer or similar device. Some examples like Bitcoin ( Bitcoin is the original cryptocurrency and it remains the go-to leader of the space.) Lite Coin Ethereum , Ripple , Bitcoin Cash , Doge Coin , EOS etc.
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