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What is Fiat Money

Chapter 1
Financial Technology and Disruptive Innovation in ASEAN
A medium of exchange in which its value is derived from supply and demand as well as human belief.
Published in Chapter:
Financial Technologies: Concept, Application, and Challenges
Debra Hooi Chern Lee (Universiti Tunku Abdul Rahman, Malaysia), Mobashar Rehman (Universiti Tunku Abdul Rahman, Malaysia), Hui Nee Au Yong (Universiti Tunku Abdul Rahman, Malaysia), and Manzoor Ahmed Hashmani (Universiti Teknologi PETRONAS, Malaysia)
Copyright: © 2020 |Pages: 33
DOI: 10.4018/978-1-5225-9183-2.ch001
Abstract
This chapter explores the concept of Financial Technology (FinTech) and how it has progressed to where it is today. This understanding is further supplemented with the applications of FinTech and the challenges it has to tackle in order to continue to evolve in a favourable manner. Being a key player in the FinTech sector, this chapter also delves into the concept of blockchain technology (BCT) to comprehend how it holds the power to impact society through revolutionary applications. As the world heralds an era of FinTech, this chapter aims to give insights on the potential of FinTech and how it cross borders to change the lives of many.
Full Text Chapter Download: US $37.50 Add to Cart
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Chapter 3
Blockchanging Money: Reengineering the Free World Incentive System
Is the government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. Its value is derived from the demand-supply relation and the stability of the issuing entity (government) rather than by the worth of a commodity backing it (commodity money). Most modern paper currencies are fiat currencies , including the U.S. dollar, the euro, and other major global currencies.
Published in Chapter: Blockchanging Money: Reengineering the Free World Incentive System; From: Political and Economic Implications of Blockchain Technology in Business and Healthcare
Full Text Chapter Download: US $37.50 Add to Cart
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