Write short note: Digital Cash. - Vidyadip

Question

Write short note: Digital Cash.

✓

Answer

Digital cash is one type of electronic currency.
It is used for the transaction carried through internet.
This type of currency is not in the form of coin or currency note.
It provides the facility of actual currency of customer to be transferred in electronic form and then to use it.
It is used in transaction through internet means it is useful only where there is cyber space.
The customer has to deposit the actual required amount in the bank for this purpose.
Then after the concerned bank sends special type of software to that customer.
Through this software customer receives digital cash in his account and spends the fund for online shopping.
In short, digital cash is electronic currency. It is used only in the internet world.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Each" from Communication. E-Commerce and Outsourcing→Communication. E-Commerce and Outsourcing — all question types→OCM STD 11 Commerce question papers→Gujarat Board STD 11 Commerce question papers→Gujarat Board question paper generator→

Similar questions

Explain - "In Co-operative Society human dignity is more important than money."

Give information about Public Private Partnership.

"The Partners are the agents and representatives of one another" - Discuss.

"Inspite of the entry of giant companies in the market sole proprietorship does exist today" Discuss the Statement.

Explain the meaning profession and state its characteristics.

Give the name of tools required for successful implementation of E-commerce.

Why the rent of special warehouses is high ?

"Investment of Equity Share Capital is higher in shipping industry and in the garden of tea and coffee.

Account holder is not the customer of a particular branch of the bank but of the bank - Discuss the statement.

The owners of grocery stores in the Ahmedabad area place orders for 'Balaji Wafers' according to their needs. As a result, wholesalers supply the goods as per their requirements. Explain the difference between the relationships of traders based on this statement.