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Digital Gold Currency

In: The Digital Currency Challenge: Shaping Online Payment Systems through US Financial Regulations

Author

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  • P. Carl Mullan

    (PDX Currency Corporation)

Abstract

Digital gold currency, or DGC as it is called, emerged in the mid-1990s and permitted complex, immediate, and irreversible financial transactions over the Internet. No restrictions on usage or identity verification made these systems instantly popular. Gold is a universally accepted monetary product and became an optimal global solution for use in digital currency systems. Digital gold currency systems, such as e-gold, held gold bullion and issued digital currency units representing small amounts of gold. Digital gold currency makes an excellent transnational currency. DGC works well as a medium of exchange for local or global trade.

Suggested Citation

  • P. Carl Mullan, 2014. "Digital Gold Currency," Palgrave Macmillan Books, in: The Digital Currency Challenge: Shaping Online Payment Systems through US Financial Regulations, chapter 3, pages 16-19, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-38255-9_4
    DOI: 10.1057/9781137382559_4
    as

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