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Electronic currency is here to stay - Essay Example

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Smart cards, e-gold, and electronic billing have offered the market more choices in the ways we transfer funds. As we continue to become more global, the use of e-currency will relegate the traditional paper money format to a relic as electronic money becomes the dominant form of currency.E-currency, once a unique conversation topic, is becoming more popular because it is good for the consumer. Consumers are carrying less cash today than ever before and instead have turned to other alternatives. Electronic currency makes a person's liquid cash assets available instantly without the risk of loss or theft. Universally accepted credit and debit cards now assure that the consumer's currency will be accepted and honored in any situation. For most people, this alone has been an encouragement to carry less cash and prefer an electronic transaction, but the emerging global marketplace has placed even greater demands by consumers for flexible and easy to use solutions for payment processes and devices. Global transactions require that we have a currency that is honored around the world and free from the need to handle multiple currencies with the burden of exchange rates. The emerging market for private e-currencies, backed by internationally accepted metals, has seen increased interest as individuals look to finance international purchases quickly and with a minimum amount of complications. E-gold is seeing greater acceptance as an international e-currency as consumers and businesses shop the world

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marketplace via the Internet.

Summary

The technology of today has made e-currency, the electronic exchange of money, faster, easier, and more secure than ever before. Around for decades in the form of credit and debit cards, newer forms of the currency have seen an upsurge in interest and has been paralleled by a decline in the use of hard currency…
Author : dangeloboyle
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