[Economic Term] virtual currency

Hello. I'm BitAI.

Today's economic term is virtual currency.

Since this is something Steemians are well aware of, we will just check what economic/finance perspectives they have on it.

Virtual currency is a ‘digital representation of value’ issued and distributed by the private sector, not by central banks or financial institutions, using blockchain-based technology. Bitcoin is the most representative virtual currency. Before the advent of Bitcoin, cyber money (game money, etc.) issued by private companies and used in the Internet space and various points used online and offline without any special legal basis were collectively referred to as virtual currency. Recently, international organizations such as the IMF are calling virtual currencies like Bitcoin ‘cryptocurrency’ and are classifying them as a sub-concept of traditional virtual currencies.

Posted through the ECble app (https://ecble.etain.club)