How_Money_Works_-_The_Facts_Visually_Explained

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PERSONAL FINANCE

Money in the digital age

TIMELINE OF DIGITAL MONEY

TIME (YEARS)

Digital currency

Money that can be traded on

exchanges directly between

individuals using a computer

or mobile device that is

connected to the internet.

Digital currency can also

be bought and sold using

conventional currencies.

See pp.222–225

Peer–to–peer lending

Loans arranged by online

agencies who match would-

be borrowers with lenders.

Peer-to-peer lending is usually

subject to fewer regulations

than conventional lending.

Borrowers are screened for

risk, which is reflected in the

interest rate they pay. See

pp.228-229

Crowdfunding

A way for individuals and

groups to raise donations

from donors over the internet,

bypassing banks, charitable

organizations, or government

institutions. It is managed via

an online intermediary who

takes a percentage as a fee.

See pp.226–227

Bitcoin

introduced

October 2008

Highest value of

Bitcoin to date

29 November 2013

Eretheum

released

August 2015

Since the technology for digital money was perfected, many cryptocurrencies

have been released − although Bitcoin remains the largest. Now even central

banks have begun investigating the potential of digital money.

First Bitcoin

transaction

May 2010

Ripple

launched

September 2013

Mazacoin

introduced

February 2014

Bank of England

announces RSCoin

March 2016

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