Digital Currency: While All Cryptocurrencies Can Be Termed as Digital Currencies, the Reverse Is Not True

By Fouad Sabry

What Is Digital Currency

While all cryptocurrencies can be termed as digital currencies, the reverse is not true. Cryptocurrencies are managed by a computer algorithm, while digital currencies are backed by an authority
Now, digital currencies exhibit properties like other currencies, but do not have a physical form like that of banknotes and coins. You can receive, transfer and / or exchange digital currency for another currency. For example, it can be used to pay for goods and services, in an online store.

Cryptocurrencies like Bitcoin and Ethereum are pieces of computer code that are not managed by any authority. Creation, as well as use, is maintained through a distributed ledger, typically a blockchain, that serves as a public financial transaction database. So, cryptocurrencies typically use decentralized control where there is no presence of a third party to have authority over the investor.

One of the most significant differences between digital currency and cryptocurrency is the underlying technology. Digital currency is a digital format of fiat money whereas cryptocurrencies are built on the blockchain. Cryptocurrencies are not under the control of any single entity. Digital currency, however, is under the direct control of the central bank. When it comes to digital currency, the issuing authority is of prime importance.

How You Will Benefit

(I) Insights, and validations about the following topics:

Chapter 1: Digital Currency
Chapter 2: Complementary Currency
Chapter 3: Automated Clearing House
Chapter 4: Cashless Catering
Chapter 5: Cashless Society
Chapter 6: Community Exchange System
Chapter 7: Cryptocurrency Exchange
Chapter 8: Cryptocurrency Wallet
Chapter 9: Central Bank Digital Currency
Chapter 10: Digital Wallet
Chapter 11: E-Commerce Payment System
Chapter 12: Electronic Money Association
Chapter 13: Electronic Funds Transfer
Chapter 14: Local Exchange Trading System
Chapter 15: Payment System
Chapter 16: Private Currency

(II) Answering the public top questions about digital currency.
(III) Real world examples for the usage of digital currency in many fields.
(IV) 17 appendices to explain, briefly, 266 emerging technology in each industry to have 360-degree full understanding of digital currency' technologies.

Who This Book Is For

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of digital currency.

• Language: English
• Publisher: One Billion Knowledgeable
• Release date: Nov 25, 2021

Book preview

Digital Currency

Other Books by The Author

1 – Smart Machines

2 – Brain Computer Interface

3 – Swarm Intelligence

4 – Autonomous Vehicles

5 – Autonomous Drones

6 – Autonomous Robotics

7 – Autonomous Weapons

8 – Agricultural Robotics

9 – Closed Ecological Systems

10 – Cultured Meat

11 – Vertical Farming

12 – Plasma Propulsion

13 – Pulse Detonation Engine

14 – Arcology

15 – 4D Printing

16 – Domed City

17 – Distributed Ledger

18 – Digital Currency

Series by The Author

Emerging Technologies in Information Technology

1 – Smart Machines

Emerging Technologies in Neuroscience

1 – Brain Computer Interface

Emerging Technologies in Robotics

1 – Swarm Intelligence

Emerging Technologies in Autonomous Things

1 – Autonomous Vehicles

2 – Autonomous Drones

3 – Autonomous Robotics

4 – Autonomous Weapons

Emerging Technologies in Agriculture

1 – Agricultural Robotics

2 – Closed Ecological Systems

3 – Cultured Meat

4 – Vertical Farming

Emerging Technologies in Space

1 – Plasma Propulsion

2 – Pulse Detonation Engine

Emerging Technologies in Construction

1 – Arcology

2 – 4D Printing

3 – Domed City

Emerging Technologies in Finance

1 – Distributed Ledger

2 – Digital Currency

One Billion Knowledgeable

Digital Currency

While all cryptocurrencies can be termed as digital currencies, the reverse is not true

Fouad Sabry

Copyright

Digital Currency Copyright © 2021 by Fouad Sabry. All Rights Reserved.

All rights reserved. No part of this book may be reproduced in any form or by any electronic or mechanical means including information storage and retrieval systems, without permission in writing from the author. The only exception is by a reviewer, who may quote short excerpts in a review.

Cover designed by Fouad Sabry.

This book is a work of fiction. Names, characters, places, and incidents either are products of the author’s imagination or are used fictitiously. Any resemblance to actual persons, living or dead, events, or locales is entirely coincidental.

Bonus

You can send an email to 1BKOfficial.Org+ [e-mail] with the subject line Digital Currency: While all cryptocurrencies can be termed as digital currencies, the reverse is not true, and you will receive an email which contains the first few chapters of this book.

Fouad Sabry

Visit 1BK website at

www.1BKOfficial.org

Preface

Why did I write this book?

The story of writing this book started on 1989, when I was a student in the Secondary School of Advanced Students.

It is remarkably like the STEM (Science, Technology, Engineering, and Mathematics) Schools, which are now available in many advanced countries.

STEM is a curriculum based on the idea of educating students in four specific disciplines — science, technology, engineering, and mathematics — in an interdisciplinary and applied approach. This term is typically used to address an education policy or a curriculum choice in schools. It has implications for workforce development, national security concerns and immigration policy.

There was a weekly class in the library, where each student is free to choose any book and read for 1 hour. The objective of the class is to encourage the students to read subjects other than the educational curriculum.

In the library, while I was looking at the books on the shelves, I noticed huge books, total of 5,000 pages in 5 parts. The books name is The Encyclopedia of Technology, which describes everything around us, from absolute zero to semiconductors, almost every technology, at that time, was explained with colorful illustrations and simple words. I started to read the encyclopedia, and of course, I was not able to finish it in the 1-hour weekly class.

So, I convinced my father to buy the encyclopedia. My father bought all the technology tools for me in the beginning of my life, the first computer and the first technology encyclopedia, and both have a great impact on myself and my career.

I have finished the entire encyclopedia in the same summer vacation of this year, and then I started to see how the universe works and to how to apply that knowledge to everyday problems.

My passion to the technology started mor than 30 years ago and still the journey goes on.

This book is part of The Encyclopedia of Emerging Technologies which is my attempt to give the readers the same amazing experience I had when I was in high school, but instead of 20th century technologies, I am more interested in the 21st century emerging technologies, applications, and industry solutions.

The Encyclopedia of Emerging Technologies will consist of 365 books, each book will be focused on one single emerging technology. You can read the list of emerging technologies and their categorization by industry in the part of Coming Soon, at the end of the book.

365 books to give the readers the chance to increase their knowledge on one single emerging technology every day within the course of one year period.

Introduction

How did I write this book?

In every book of The Encyclopedia of Emerging Technologies, I am trying to get instant, raw search insights, direct from the minds of the people, trying to answer their questions about the emerging technology.

There are 3 billion Google searches every day, and 20% of those have never been seen before. They are like a direct line to the people thoughts.

Sometimes that’s ‘How do I remove paper jam’. Other times, it is the wrenching fears and secret hankerings they would only ever dare share with Google.

In my pursuit to discover an untapped goldmine of content ideas about Digital Currency, I use many tools to listen into autocomplete data from search engines like Google, then quickly cranks out every useful phrase and question, the people are asking around the keyword Digital Currency.

It is a goldmine of people insight, I can use to create fresh, ultra-useful content, products and services. The kind people, like you, really want.

People searches are the most important dataset ever collected on the human psyche. Therefore, this book is a live product, and constantly updated by more and more answers for new questions about Digital Currency, asked by people, just like you and me, wondering about this new emerging technology and would like to know more about it.

The approach for writing this book is to get a deeper level of understanding of how people search around Digital Currency, revealing questions and queries which I would not necessarily think off the top of my head, and answering these questions in super easy and digestible words, and to navigate the book around in a straightforward way.

So, when it comes to writing this book, I have ensured that it is as optimized and targeted as possible. This book purpose is helping the people to further understand and grow their knowledge about Digital Currency. I am trying to answer people’s questions as closely as possible and showing a lot more.

It is a fantastic, and beautiful way to explore questions and problems that the peoples have and answer them directly, and add insight, validation, and creativity to the content of the book – even pitches and proposals. The book uncovers rich, less crowded, and sometimes surprising areas of research demand I would not otherwise reach. There is no doubt that, it is expected to increase the knowledge of the potential readers’ minds, after reading the book using this approach.

I have applied a unique approach to make the content of this book always fresh. This approach depends on listening to the people minds, by using the search listening tools. This approach helped me to:

Meet the readers exactly where they are, so I can create relevant content that strikes a chord and drives more understanding to the topic.

Keep my finger firmly on the pulse, so I can get updates when people talk about this emerging technology in new ways, and monitor trends over time.

Uncover hidden treasures of questions need answers about the emerging technology to discover unexpected insights and hidden niches that boost the relevancy of the content and give it a winning edge.

Stop wasting time on gutfeel and guesswork about the content wanted by the readers and fill the book content with what the people need and say goodbye to the endless content ideas based on speculations.

Make solid decisions, and take fewer risks, to get front row seats to what people want to read and want to know — in real time — and use search data to make bold decisions, about which topics to include and which topics to exclude.

Streamline my content production to identify content ideas without manually having to sift through individual opinions to save days and even weeks of time.

It is wonderful to help the people to increase their knowledge in a straightforward way by just answering their questions.

I think the approach of writing of this book is unique as It collates, and tracks the important questions being asked by the readers on search engines.

Acknowledgments

Writing a book is harder than I thought and more rewarding than I could have ever imagined. None of this would have been possible without the work completed by prestigious researchers, and I would like to acknowledge their efforts to increase the knowledge of the public about this emerging technology.

Dedication

To the enlightened, the ones who see things differently, and want the world to be better -- they are not fond of the status quo or the existing state. You can disagree with them too much, and you can argue with them even more, but you cannot ignore them, and you cannot underestimate them, because they always change things... they push the human race forward, and while some may see them as the crazy ones or amateur, others see genius and innovators, because the ones who are enlightened enough to think that they can change the world, are the ones who do, and lead the people to the enlightenment.

Epigraph

Digital currency is any currency, money, or money-like asset that is primarily managed, stored, or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency, and central bank digital currency.

Digital currencies have utility like that of physical currencies. They can be used to purchase goods and pay for services. They can also find restricted use among certain online communities, such as gaming sites, gambling portals, or social networks.

Distinct types of crypto fall into one of two categories:

- Coins, which can include Bitcoin and altcoins (non-Bitcoin cryptocurrencies)

- Tokens, which are programmable assets that live within the blockchain of a given platform.

Though many people use the words crypto, coins, and tokens interchangeably, it is important to understand how they differ from one another to gain a basic understanding of cryptocurrency.

The history of digital currency began in 1983, when David Chaum introduced the concept of a digital version of cash controlled by a private key. 2 Satoshi Nakamoto's infamous Bitcoin paper was published 25 years later, setting the stage for bitcoin transactions.

Table of Contents

Digital Currency

Other Books by The Author

Series by The Author

Digital Currency

Copyright

Bonus

Preface

Introduction

Acknowledgments

Dedication

Epigraph

Table of Contents

Chapter 1: Digital Currency

Chapter 2: Complementary Currency

Chapter 3: Automated Clearing House

Chapter 4: Cashless Catering

Chapter 5: Cashless Society

Chapter 6: Community Exchange System

Chapter 7: Cryptocurrency Exchange

Chapter 8: Cryptocurrency Wallet

Chapter 9: Central Bank Digital Currency

Chapter 10: Digital Wallet

Chapter 11: E-Commerce Payment System

Chapter 12: Electronic Money Association

Chapter 13: Electronic Funds Transfer

Chapter 14: Local Exchange Trading System

Chapter 15: Payment System

Chapter 16: Private Currency

Epilogue

About the Author

Coming Soon

Appendices: Emerging Technologies in Each Industry

Chapter 1: Digital Currency

Diagram, venn diagram Description automatically generated

Taxonomy of money, based on "Central