Currency refers to electronic currencies stored electronically in banks, and makes up one out of three forms of electronic currency. While paper money is still used globally, up to 80% of the world’s currency is stored through banks electronically. From its infancy, it has grown from an alternative to conducting business to a primary form of e-commerce, and only seems to continue to grow.
The first digital currency was created during the first internet bubble of the early 2000s. It was named E-Gold and was founded in 1996 by Gold & Sliver Reserve Inc, which allowed users to transfer small amounts of the values of gold electronically. In the spring of 2000, it became the first electronic currency to offer an exchange service for other currencies.
Launching two years before PayPal, by 2004 it had over a million accounts. Another service starting in 2006, Liberty Reserve, allowed its clients … Read More