August 31, 2000
The world of virtual currency
MONEY, AS all of us know, is a medium of exchange invented to facilitate commerce. Over the years many forms of money have been developed - coins, paper notes, cheques and credit cards. The Net, which has intervened and altered many established concepts and institutions has made some inroads into the highly restricted area of currency as well. This week, we will discuss the exciting concept of on-line currency that has originated from the Net to facilitate Net-based commercial transactions.