5.2 Digital Currency


Digital Currency

  • Only exists electronically

  • Decentralised (i.e. not controlled)

  • Volatile (i.e. value can fluctuate)


Blockchain

This is a digital ledger that records every transaction. It is decentralised and each participant can view the ledger and verify transactions independently. It is made up of transactions linked up in a chain using cryptographic algorithms.


Last updated