Digital Currencies and Their Adoption in Singapore

MONEY, FIAT CURRENCY AND CRYPTOCURRENCIES
The three main functions of money are as a unit of account, medium of exchange and store of value. Cash is a financial instrument and physical asset that combines four features: (i) it is anonymous; (ii) it is universal (anyone can take possession); (iii) it is exchanged peer to peer (without knowledge of the issuer); and (iv) it does not yield any interest by itself[1]. Banks are the traditional money creators and maintain their inimitability at keeping reserves at the central banks (CBs).

Read More >

Subscribe to our Mailing List