Search results for: “soft currency”
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Soft Currency
A national currency that, because of exchange controls, is not freely convertible into gold or other currencies. Such controls are usually manifest in officially set rates of exchange that do not reflect the price of the soft currency, were it permitted to trade freely….
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Virtual Currency
Virtual currency is a digital representation of value that can be traded on the Internet and functions as: a medium of exchange; a unit of account; and/or a store of value, but does not have legal tender status in any jurisdiction. Virtual currency is distinguished from fiat […]
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National Currency
National Currency in the E-Commerce Law Fiat Currency (a.k.a. “real currency,” “real money,” or “national currency”), is the coin and paper money of a country that is designated as its legal tender; circulates; and is customarily used and accepted as a medium of exchange in the issuing […]
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International Currency
Trends in International Political Economy: International CurrencyIntroduction to International CurrencyExplosive growth in the exchange of foreign currencies in international markets has also transformed the global political economy (see foreign exchange). Advanced telecommunicatio…
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International Currency
Trends in International Political Economy: International CurrencyIntroduction to International CurrencyExplosive growth in the exchange of foreign currencies in international markets has also transformed the global political economy (see foreign exchange). Advanced telecommunicatio…
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Soft Loan
A loan repayable by a foreign borrower in a Soft Currency (read this and related legal terms for further details). Such loans usually have been the product of long-term sales to countries without hard currency repayment …
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Cryptocurrency
Cryptocurrency Cryptocurrency refers to a math-based, decentralized convertible virtual currency that is protected by cryptography, i.e., it incorporates principles of cryptography to implement a distributed, decentralized, secure information economy. Cryptocurrency relies on public and private keys to transfer value from one person (individual or entity) to another, and must be cryptographically signed each time it…
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Closed Virtual Currency
Closed Virtual Currency Closed Virtual Currency in the E-Commerce Law Non-convertible (or closed) virtual currency is specific toa particular virtual world, such as a Massively Multiplayer Online Role-Playing Game (MMORPG), and cannot be exchanged for fiat currency under the rules governing its use. Examples: Project Entropia Dollars; Q Coins; and World of Warcraft Gold. All…
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Convertible virtual currency
Convertible (or open) virtual currency Convertible (or open) virtual currency may be either centralized or decentralized. Convertible virtual currency has an equivalent value in real currency and can be exchanged back-and-forth for real currency. Examples include: Bitcoin; e-Gold (defunct); Second Life Linden Dollars; and WebMoney. “Bitcoin” (capitalized) refers to both the open source software used…
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Bitcoin
Bitcoin in the E-Commerce Law Bitcoin, launched in 2009, was the first decentralized convertible virtual currency and the first cryptocurrency. Bitcoins are mathematical tokens composed of unique strings of numbers and letters that constitute units of the currency and are oftentimes traded […]
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Dictionary of International Trade
Dictionary of International Trade Dictionary of International Trade (Global Negotiator) Contents The Dictionary of International Trade of Global Negotiator include, among others, the following terms and acronyms: Back haul Back letter Back order Back to back letter of credit Backhauling Bad faith BAF Bailee Bailment Balance of payments Balance of trade Bale Bank acceptance Bank…
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Dictionary of International Trade
Dictionary of International Trade Dictionary of International Trade (Global Negotiator) Contents The Dictionary of International Trade of Global Negotiator include, among others, the following terms and acronyms: Back haul Back letter Back order Back to back letter of credit Backhauling Bad faith BAF Bailee Bailment Balance of payments Balance of trade Bale Bank acceptance Bank…
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Proxy Server
Proxy Server Proxy Server in the E-Commerce Law A proxy server, also known as a proxy, is a computer that acts as a gateway between a local network (e.g., all the computers at one company or in one building) and a largerscale network such as the Internet. Proxy servers provide increased performance and security. In…
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Exchanger
Exchanger Exchanger in the E-Commerce Law An exchanger (also sometimes called a virtual currency exchange) is a person/entity engaged as a business in the exchange of virtual currency for real currency, funds, or other forms of virtual currency. Exchangers generally accept a wide range of payments, including cash, wires, credit cards, and other virtual currencies,…
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Foreign Trade
Foreign Trade Definition Foreign Trade is the exchange of goods and services between nations. Goods can be defined as finished products, as intermediate goods used in producing other goods, or as agricultural products and foodstuffs. Introduction International trade enables a […]