What is the difference between a cryptocurrency, a digital currency, and a virtual currency...

Definition of currency - a system of money in general use in a particular country, the fact or quality of being generally accepted or in use. 2) Real currency has intrinsic value like Gold, Silver, copper and any other commodity that have their own value base on specific weight and measurement..3_) Fiat Currency is a generally accepted form of money, including coins and paper notes, which is issued by a government and circulated within an economy. Used as a medium of exchange for goods and services, Fiat currency is the basis for trade and most importantly it’s a promissory notes of respective issuing government...4) Digital currency (digital money or electronic money or electronic currency) is a type of currency available only in digital form, not in physical (such as banknotes and coins). Examples include virtual currencies and crypto-currencies or even central bank issued "digital base money". Digital currencies, meanwhile, are redeemed for physical goods and services all the time. You can order products via PayPal..5) Crypto-currencies like BTC, Eth are new, but revolutionize mode of settlement without any clearing house, central banks and middle person or agents stand in between the settlement party like central banks and banks. Therefore, it’s no extra cost of intermediate party, fast, easy (once you understand how to operate the wallet regardless of hard wallet or soft wallet). Its straight dealing between 2 party, using Crypto-currencies as medium of settlement for their goods and services. Value of the Crypto-currencies is moved depend on supply and demand.

Main characteristic of Crypto-Currencies is decentralizing unlike other digital currency. Its sit on the Block chain technology which basically store the information on journals that contain the information of owner and information in each block. All the transactions are confirming and verify by individual’s computers (also known as Nodes) that link to the each and every one computer in web, store and share the data and those verification and confirmations (also known as mining) are keep attach to the ledger after every transaction in the block in chain. Whenever there is a need of space in each block (each block only can store 1MB of data) there will be a new block which will attach to the original blocks with those verification and confirmations by NODES. That’s why it’s called block chain technology anyway.

Different? owner store its Crypto-Currencies in its own wallet another word act like and individual banks without going through currency issuing banks, government or also known as central bank. Crypto-currencies are designed to be capable of replacing cash, and there’s nothing virtual about that. Bitcoin used to be thought of as “Internet money,” but you can now spend it in person at physical businesses. This makes them similar to traditional money in that respect, and makes them more real....6) Virtual currencies, by contrast, are intended to be light-hearted and fun: they, too, have been around far longer than Crypto-currencies like Bitcoin, and are used primarily for online entertainment in virtual worlds. “Virtual” can be defined as “not based in physical reality,” and virtual currencies are those which are not intended for use in “real life,” or expenditure on real assets. They are, in another word, toys.7) A Crypto-currencies like BTC, Eth are new, but revolutionize mode of settlement without any clearing house, central banks and middle person or agents stand in between the settlement party like central banks and banks. Therefore, it’s no extra cost of intermediate party, fast, easy (once you understand how to operate the wallet regardless of hard wallet or soft wallet). Its straight dealing between 2 party, using Crypto-currencies as medium of settlement for their goods and services. Value of the Crypto-currencies is moved depend on supply and demand.

Main characteristic of Crypto-Currencies is decentralizing unlike other digital currency. Its sit on the Block chain technology which basically store the information on journals that contain the information of owner and information in each block. All the transactions are confirming and verify by individual’s computers (also known as Nodes) that link to the each and every one computer in web, store and share the data and those verification and confirmations (also known as mining) are keep attach to the ledger after every transaction in the block in chain. Whenever there is a need of space in each block (each block only can store 1MB of data) there will be a new block which will attach to the original blocks with those verification and confirmations by NODES. That’s why it’s called block chain technology anyway.

Different? owner store its Crypto-Currencies in its own wallet another word act like and individual banks without going through currency issuing banks, government or also known as central bank. Crypto-currencies are designed to be capable of replacing cash, and there’s nothing virtual about that. Bitcoin used to be thought of as “Internet money,” but you can now spend it in person at physical businesses. This makes them similar to traditional money in that respect, and makes them more “real.”

Conclusion: Apart from the understanding of different digital currency, particularly on crypto-currencies that being decentralize sit on the block-chain technology will have a powerful impact globally much sooner than later in today digital world.

We will see the country like Russia will emerge and take over as a new economy super power due to its flexibility to adopt the crypto-currencies in today digital economy.

Digital Economy and today crypto-currencies are so powerful and if one knows how to implement and utilise, country like Myanmar who coexist among its Asian members with many economic disadvantages with huge debts, civil war among the ethnics, struggling with progressive economy can turn around to a strong and sustainable economy of its own by making a very simple step like of Russia in own way. I understand that every step is a big step and will come with all sort of challenges in today digital world. With the astute commitment and strong will of a change, I strongly believe that even a destiny of long searching peace among its ethnic members will come as a bonus package apart from dynamic economy and prosperity.