The more civilized that mankind became, the more sophisticated became the evolution. As things change constantly, so does the currency. Hence, electronic currency is created to satisfy mankind's varied wants. Electronic currency has many terms from e-money, electronic cash, electronic currency, digital money, digital cash to digital currency. All of those terms refer to money or scrip which is stored electronically. You cannot take this money into your hands, count with your fingers or sense its. However, it is real.

Electronic currency are used as international payment unit because it meets the requirements. It is a means of payment, it is the measure of value and it can be circulated. However, rules and regulation regarding to emission of electronic currency have not been establish in some countries. Hence, trusts have always been an issue.

Now, many new products are being designed to challenge the use of currency in millions of transactions. It is undeniable that electronic currency provides uncountable advantages. However, electronic currency activities carry risks that must not be overlook. It is important that these risks are recognized and managed in a prudent manner.

References:

• What is Electronic Money ? . (2008, 22 July) . Retrieved on 2009, July 22, from http://www.e-money.com/articles/4_stat.html
• Has The Time For Eletronic Currency Come . Retrieved on 2009, July 22, from http://projects.tigweb.org/ecurrency/about/
• Electronic Money . (17 June 2009) . Retrieved on 2009, July 22, from http://en.wikipedia.org/wiki/Electronic_money