Electronic currency also called e-money, electronic cash, electronic money, digital money, digital cash or digital currency. Usually involve used of several systems, such as internet, computer network and digital store system. It is also refers to the money or scrip which is exchange by electronically.
By using the e-currency service on the internet like e- gold and paypal provide a convenient, secure, and cost effective for people. E-gold is a digital gold currency operated by Gold & Silver Reserve Inc. under e-gold Ltd., and is a system which allows the instant transfer of gold ownership between users. Besides that, E-gold is payment system that can let people to use gold as money.
On the other hand, PayPal is how business transaction parties send and receive money online. PayPal is substitute traditional paper methods such as checks and money orders. We can use it to make payments globally through the internet.
Pro of E-currency
The using of the E-currency services, people no longer use their credit card making online payment. Since there is the risk of expose of their credit card confidential information. While E-currency can help us avoid this kind of problems.
The E-currency system are using through the internet, provide convenience for all the users. Since the internet can accessed anywhere in the world. For example, when user wants to make payment into the bank, they do not have to actually go to the bank to make such payment. The online system also provides convenience to the user, as he or she does not have to queues, waiting for the payment.
Cons of E-currency
One of the major cons of E-currency system is fraud. If the private key is misplace by the consumer, and used by a perpetrator to withdraw funds. In this case, the bank wouldn’t even know, hence the consumer will be liable by self. Due to this reasons, of course, the risk is even greater in traditional forms of payment.
In fact, E-currency system depends a lot on the technology. We will worry that, if the power failure, unavailability of internet connection, undependable software and loss of records, especially when we rush to do the transaction. All this problems will add difficulties to users.
In conclusion, more and more advanced technologies provide a lot of convenient for us. However, we need to be carefulness when we using it, to avoid other people stolen our confidential information.
Related link:
http://www.e-gold.com/benefits.html
http://www.buzzle.com/articles/pros-and-cons-of-electronic-cash.html
1 comments:
Although the E-currency is easy for user when they online shopping. However, the security and safety still become the issue on it.
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