From OVN wiki
Jump to navigation Jump to search

A special form of Current-see.

Currency is understood as a medium of exchange that is widely accepted within a specific geographic region as a medium of exchange for goods and services. It can be in physical form (fiat banknotes) or digital (electronic $ or cryptocurrency). It can be issued and regulated by a central authority or, like in the same of cryptocurrency, issued and regulated by a self-containing and trusted mechanism, like the Bitcoin blockchain.

Currency and money are not synonymous, but they are wrongfully used interchangeably. Money are forms of assets that can serve as a medium of exchange, store of value, and unit of account. Originally they were materials that were rare materials (shells), or commodities (grains, gold, silver). In modern times economists also call assets records like checking and savings account balances, certificates of deposit, or securities like bonds, etc...