An Electronic Encyclopedia Story Described by a Fool ➨ Story of virtual currency

Virtual currency

I'll give you a rundown.

For a type of digital currency using hash functions, such as Bitcoin and teeth resolution, see the password currency document.

Virtual currency is money that is used in virtual spaces such as the Internet. Game money and cyber money are virtual currency that are subject to issuance.


Cryptography is a kind of virtual currency. However, strict application of the virtual currency definition by the European Central Bank or the U.S. Treasury makes little of the cryptographic currency that can be called virtual money. Therefore, the U.S. Treasury Department's Financial Crime Team (FinCEN) does not call crypt virtual currency.
A more detailed description can be read in the cryptography document.

According to definitions given by the European Central Bank (ECB), the U.S. Treasury Department, and the European Banking Institute, virtual currency is a type of digital currency that is not controlled by the government and is issued and managed by developers only.[1] Most cipher notes satisfy some of the conditions of the virtual currency. Most online and offline stores, however, accept Bitcoin as a means of payment but it is not a virtual currency. Also, since most of the cryptography is not issued by developers, the majority of the cryptography is not virtual.

The term FinCEN refers to the term " currency, " meaning " a currency that does not have all the characteristics of a real currency, although it functions as the main currency in some environments. " Password currency, virtual currency, virtual currency, virtual vouchers ...What do you call it? 2012-01-14

The concept of virtual currency includes those that have only been formulated with the concept of different kinds of money. According to game, transaction between cyber money and cyber bank is also treated as virtual currency. Among them, the concept that can actually be localized is commonly referred to as e-money, which includes a payment system such as PayPal. And it is called cryptography that, among other things, is encoded and has no concept of producing money. However, because the concept of cryptography is unfamiliar to the general public, it is quite common to call it just a virtual currency. For example, South Korea's crypto-money exchanges often describe themselves as ' virtual currency exchanges. '

On the other hand, crypto-money investors often call it just a coin. Also, if we call password money virtual money, we can use virtual money such as game money, or we can be confused with the recent online payment method such as Kakao Pay and Naver Pay, which can be used to make electronic payments in cyberspace. Concerns over misunderstanding have been greatly reduced.

The concept of cryptocurrency emerged after an effort to create a cyber currency that is not dependent on the issuing entity.

The U.S. government defines cryptography as a digital asset, designed to validate trade security, control of additional units and transfer of assets.

There are digital currency or e-money in similar terms. A currency that represents the digital exchange of money.


Justice Minister Park Sang-gi voluntarily called the cryptography a " virtual voucher. " The Korean government used the word " currency " to avoid using the term " currency " with the word " fake, " but the minister used it as a token of the meaning of " currency. " The minister said the government agreed with the former ministry to shut down the virtual voucher exchange, but less than a few hours later, Cheong Wa Dae announced the matter was under discussion within the government.