Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
P. 1
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary Crisis in the United States CWells

Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary Crisis in the United States CWells

Ratings: (0)|Views: 489 |Likes:
Published by Carl Mullan
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary Crisis in the United States, Constance J. Wells, February 8, 2011
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary Crisis in the United States, Constance J. Wells, February 8, 2011

More info:

Published by: Carl Mullan on Feb 16, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

11/15/2011

pdf

text

original

 
 
Digital Currency Systems: Emerging B2B e-CommerceAlternative During Monetary Crisis in the United States
Author: Constance J. Wells, constance@bitech-inc.com  Aspen University and Business Intell Technology, Inc.February 8, 2011
 
i
TABEL OF CONTENTS
Abstract ........................................................................................................................................... 1Introduction ..................................................................................................................................... 2Background on the Digital Currency System ................................................................................. 2Digital Currency System Sources and Research ............................................................................. 4Barter Exchange Software Systems ............................................................................................ 4Non-Bank Digital Currency Payment Systems........................................................................... 5Digital Precious Metal Systems .................................................................................................. 6Online Value Transfer Software Systems ................................................................................... 7Online Stored Value Transaction Software Systems .................................................................. 7The Problems that Drive Digital Currency Systems ....................................................................... 8Anti-Money Laundering ............................................................................................................. 8Privacy and Sovereignty ........................................................................................................... 10Legal Tender Laws ................................................................................................................... 11Quantitative Easing Measures................................................................................................... 13Electronic Commerce through Digital Currency Systems ............................................................ 15Part One .................................................................................................................................... 15Part Two .................................................................................................................................... 22Double-Spending .................................................................................................................. 24Types of Digital Currency Systems ...................................................................................... 25Conclusions Drawn from the Work .............................................................................................. 40Summary of the Contributions .................................................................................................. 41Prospect of Future Research ..................................................................................................... 41References ..................................................................................................................................... 43Appendices .................................................................................................................................... 51Glossary of Terms ......................................................................................................................... 60
 
 1
Abstract
Digital currency systems form the triumvirate nexus of government policies, money, andtechnology. Each has a global reach and responds to the needs of business and consumers. E-commerce depends on private and government financial institutions to enable paymenttransactions; the basis of e-commerce. As the United States financial crisis continues B2Benterprises may need to abandon traditional payment transaction systems and look toalternatives, in the form of Web based digital currency systems accessed via the Internet. Thevarious types of digital currency systems generally fit into five categories: Barter ExchangeSoftware Systems, Non-Bank Digital Currency Payment Systems, Digital Precious MetalSystems, Online Value Transfer Software Systems, and Online Stored Value TransactionSoftware Systems. Digital currency systems are not online banking. Digital currency systems useprivate electronic monies: electronic tokens, barter-exchange currencies, digital cash, and storedvalue e-cash vouchers. We explore the history of money against a backdrop of banking andgovernment policies that cause cyclic monetary crisis’s, how these current digital systemsoperate, how business can thereby benefit in their use, and why digital currency systems are suchan underutilized service in the United States.

Activity (3)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads
farhanasathath liked this

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->