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

  • Book
  • © 2014

Overview

Authors:
  1. P. Carl Mullan

    1. PDX Currency Corporation, USA

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Table of contents (24 chapters)

  1. Front Matter

    Pages i-vi
    Download chapter PDF

  2. Introduction

    • P. Carl Mullan
    Pages 1-3

  3. What Is Digital Currency?

    • P. Carl Mullan
    Pages 4-12

  4. Who Uses Digital Currency?

    • P. Carl Mullan
    Pages 13-15

  5. Digital Gold Currency

    • P. Carl Mullan
    Pages 16-19

  6. E-gold

    • P. Carl Mullan
    Pages 20-29

  7. Digital Currency Growth

    • P. Carl Mullan
    Pages 30-35

  8. Regulatory History

    • P. Carl Mullan
    Pages 36-48

  9. Follow the Money

    • P. Carl Mullan
    Pages 49-55

  10. Money Service Business

    • P. Carl Mullan
    Pages 56-60

  11. Prepaid Access

    • P. Carl Mullan
    Pages 61-67

  12. WebMoney Transfer

    • P. Carl Mullan
    Pages 68-78

  13. Loom

    • P. Carl Mullan
    Pages 79-83

  14. Bitcoin Decentralized Virtual Currency

    • P. Carl Mullan
    Pages 84-92

  15. Early Bitcoin

    • P. Carl Mullan
    Pages 93-96

  16. Bitcoin Mining

    • P. Carl Mullan
    Pages 97-101

  17. Bitcoin Differences

    • P. Carl Mullan
    Pages 102-110

  18. Benefits and Advantages

    • P. Carl Mullan
    Pages 111-114

  19. Disadvantages and Barriers

    • P. Carl Mullan
    Pages 115-117

  20. FIN-2013-G001

    • P. Carl Mullan
    Pages 118-130
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Keywords

About this book

Private online digital currency systems offer people accessible, convenient, and inexpensive everyday financial tools outside of traditional bank-owned and operated platforms. Digital currency systems facilitate local and international fund transfers, online and offline payments, and simple cash-to-digital everyday financial products without the need for a conventional bank account of any retail bank product. Over the past several years, Bitcoin has grown into an efficient person-to-person and person-to-business payment system without the backing of any bank or financial institution. This phenomenon is producing a new level of an on- and offline commerce and a society much more attuned to digital currency systems. The Digital Currency Challenge details how new 2007-2008 U.S. legal issues surrounding digital currency products forced companies from the U.S. market and caused the Treasury Department to enact stricter regulations. Mullan profiles new and innovative present day digital currency systems, such as Bitcoin, and illustrates how software designers and monetary theorists use new technology to circumvent current U.S. regulations. This work also explains how new digital currency systems are not just software products, but tools providing financial freedom to people in countries all around the world.

Authors and Affiliations

  • PDX Currency Corporation, USA

    P. Carl Mullan

About the author

P. Carl Mullan is President and CEO at PDX Currency Corporation, USA.

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