Features of universal currency, Other Subject

FEATURES of Universal currency

Proponents argue that DGC presents a accurately global and borderless world currency system which is free of exchange rate variations and political handling. Gold, silver, platinum and palladium every one have familiar international currency codes under ISO

4217. In adding to digital gold currency, GoldMoney, e-Bullion and eLibertyDollar as well offer digital currency backed by silver.

Asset protection

different fractional-reserve banking, DGCs (such as e-gold and GoldMoney) clutch 100% of clients' funds in assets with a store of worth. Proponents of DGC systems compete that deposits are protected in opposition to inflation, depression and other likely economic risks intrinsic in fiat currencies. These danger comprise the monetary policy of countries or territories, which are seeming by proponents to be harmful to the value of paper currency.

Bullion investing

major articles: Silver as an investment and Gold as an investment.

For illustration, GoldMoney is accessible and accepted for U.S. self-directed Individual Retirement Accounts during The Entrust Group.

Every one of of the additional digital gold currency systems can be used to buy, hold, and sell expensive metals, but do not sponsor themselves as an "investment", as this involve an predictable return.

Exchanging national currency

A quantity of providers, like e-gold, Pecunix, Liberty Reserve do not sell DGC straightforwardly to clients. designed for those DGCs, e-currency have to be bought and sold via a digital currency exchanger for instance GoldNow or London Gold Exchange.

Currency exchangers agree to payment in national currencies by a multiplicity of techniques, including Bank Wire, Direct Deposit, Check, Money Order. a number of exchangers also trade and fund pre-paid debit cards to build it easier for their clientele to change DGC into an straightforwardly spendable form of national currency.

According to the DGC issuers that do not honestly sell DGC to clients, this  remain their system free of any replace risk, which is in its place taken by the free exchange providers. DGCs are recognized as personal currency as they are not issued by administration.

Non-reversible transactions

Dissimilar the credit card industry, DGC issuers usually do not package services such as negation. Thus having transactions unwillingly reversed, even in case of a lawful error, illegal spend, or failure of a vendor to provide goods is not likely. In this respect, a DGC expend is more akin to a cash transaction while PayPal transmit, for illustration, could be careful additional parallel to credit card transactions.

The benefit of this arrangement is that the in service costs of the digital currency system are very much summary by not having to resolve payment argument. as well, it allows DGC transactions to clear instantaneously making the funds directly available to the receiver. By contrast credit cards, checks, ACH and further reversible payment techniques usually have a "clearing time" of 72 hours or more.

The need of payment repudiation in DGCs leaves an chance for third-parties to give payment escrow services to buyers and sellers in untrusted environments, for example internet public sale websites.

Posted Date: 10/13/2012 3:09:43 AM | Location : United States







Related Discussions:- Features of universal currency, Assignment Help, Ask Question on Features of universal currency, Get Answer, Expert's Help, Features of universal currency Discussions

Write discussion on Features of universal currency
Your posts are moderated
Related Questions
thesis statement for policemen of the world

Ask questionThe Vietnam War was a counterinsurgency that involved us in guerilla warfare that was similar, in some ways, to what we face in Afghanistan today. But the way the Vietn

character attacks are common to which style of handling conflict

what were the articles of conferation and why according to George Washington were they a faluire

Primary health care (PHC) is increasingly important in modern health care reform, with a national PHC strategy recently released in 2010. The World Health Organisation describes PH

Problem 1: In the year 2000 an estimated 815 000 people died from suicide around the world. This represents an annual global mortality rate of about 14.5 per 100 000 population

Formalist - Substantivist debate Formalist-Substantivist debate is the dispute in ECONOMIC ANTHROPOLOGY between those scholars who argue that formal rules of neoclassical econo

Review the following scenario, and respond to the questions that follow: Kevin is a hardworking salesperson at a local department store in a small town. He is a great salesperson

Question 1 What are the common traditional channels of communication? Describe the problems that can arise in such forms of communication Question 2 Explain the Unilinear Mod

I am responding to your letter of about six weeks ago asking for an adjustment on your wireless hub, model WM39Z. We test all our products before they leave the factory; therefore,