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Digital Currency: Submitted by Ayesha Nasrin Ripa Nadia Islam Submitted To Falguni Roy Assistant Professor, IIT, NSTU

This document provides an overview of digital currency and cryptocurrency. It discusses the history of digital currencies including e-gold in 1996 and bitcoin in 2009. Digital currency is defined as any currency primarily exchanged digitally, while cryptocurrency uses cryptography to secure transactions. The main differences between digital and cryptocurrency are that digital currency is centralized while cryptocurrency is decentralized. Digital currency systems can be centralized, using debit/credit cards, or decentralized like bitcoin. Advantages of digital currencies include lower fees and simpler international payments, while disadvantages include price volatility and lack of trust.

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Roichuddin Rana
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82 views12 pages

Digital Currency: Submitted by Ayesha Nasrin Ripa Nadia Islam Submitted To Falguni Roy Assistant Professor, IIT, NSTU

This document provides an overview of digital currency and cryptocurrency. It discusses the history of digital currencies including e-gold in 1996 and bitcoin in 2009. Digital currency is defined as any currency primarily exchanged digitally, while cryptocurrency uses cryptography to secure transactions. The main differences between digital and cryptocurrency are that digital currency is centralized while cryptocurrency is decentralized. Digital currency systems can be centralized, using debit/credit cards, or decentralized like bitcoin. Advantages of digital currencies include lower fees and simpler international payments, while disadvantages include price volatility and lack of trust.

Uploaded by

Roichuddin Rana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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DIGITAL CURRENCY

Submitted by Submitted to
Ayesha Nasrin Ripa Falguni Roy
Nadia Islam Assistant Professor ,IIT ,NSTU

06-Mar-21 1
CONTENT
• History
• Digital Currency
• Cryptocurrency
• Digital vs Cryptocurrency
• Systems of Digital Currency
• Bitcoin
• Advantage & Disadvantage

06-Mar-21 2
HISTORY
• e-gold was the first widely used Internet money, introduced in 1996, and
grew to several million users before the US Government shut it down in
2008. e-gold has been referenced to as "digital currency" by both US
officials and academia.
•  In 2009, bitcoin was launched, which marked the start of
decentralized blockchain-based digital currencies with no central server,
and no tangible assets held in reserve.
• Recent interest in cryptocurrencies has prompted renewed interest in digital
currencies, with bitcoin, introduced in 2008, becoming the most widely
used and accepted digital currency.

06-Mar-21 3
DEFINITION OF DIGITAL CURRENCY
• 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.

06-Mar-21 4
CRYPTOCURRENCY
• A cryptocurrency is a medium of exchange using cryptography to secure
the transactions and to control the creation of additional units of the
currency .
• Cryptocurrencies are a subset of alternative currencies ,or specifically of
digital currencies.

06-Mar-21 5
DIGITAL VS CRYPTO CURRENCY
Digital Currency Cryptocurrency

Digital currency is fully centralized. Cryptocurrency is fully decentralized .

It is surrounded by legal frameworks . It is not surrounded by legal frameworks .

Transaction directories is kept secret . Transaction directories is visual to all .

It is not encrypted . It is highly encrypted .

06-Mar-21 6
SYSTEMS OF DIGITAL CURRENCY
• Centralized system
• Decentralized system

06-Mar-21 7
CENTRALIZED SYSTEM

• Currency can be exchanged electronically using debit cards and credit


cards using electronic funds transfer at point of sale.
• Many systems – such as PayPal, eCash, WebMoney ,Payoneer cashU and
Hub Culture’s Ven will sell their electronic currency directly to the end
user.
• Other systems only sell through third party digital currency exchangers .

06-Mar-21 8
DECENTRALIZED
Decentralized e-money is stored and flows through a peer- to-peer computer
network that directly links users , much like a chat room. No single users
controls the network.
Some decentralized types:
• Bitcoin
• Monero
• Litecoin

06-Mar-21 9
BITCOIN
Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group
of people using the name Satoshi Nakamoto. The currency began use in 2009
when its implementation was released as open-source software.

06-Mar-21 10
ADVANTAGE & DISADVANTAGE
Advantage:
• Digital currencies require lower fees
• Fraud protection
• Simpler international payments

Disadvantage:
• The volatility of prices
• The lack of trust

06-Mar-21 11
THANK YOU

06-Mar-21 12

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