Questions tagged [fiat money]

BlockchainEmpiress Wed Dec 04 2024 | 5 answers 1130

CBDC, or Central Bank Digital Currencies, are digital forms of money issued and controlled by central banks, offering a centeralized alternative to decentralized cryptocurrencies. Fiat money, on the other hand, refers to government-issued currency that is not backed by a commodity such as gold, and its value is derived from government decree and credit. The key difference lies in their form and issuance: CBDC is digital and issued by central banks, while fiat money can be in physical or electronic form and is controlled by governments.

Elena Sun Nov 10 2024 | 5 answers 1061

I'm wondering about the factors or elements that contribute to the value of fiat money. What exactly is it that makes fiat currency, which is not backed by a physical commodity like gold, hold its worth in the economic system?

Nicolo Sun Nov 10 2024 | 5 answers 838

I'm curious about the nature of the U.S. dollar. Specifically, I want to know if it falls under the category of fiat money. Can someone explain this to me?

TimeRippleOcean Sat Nov 09 2024 | 5 answers 786

I'm trying to understand fiat money better. Could you provide me with an example of fiat money that's commonly used or recognized in today's economic system?

Tommaso Thu Nov 07 2024 | 6 answers 1584

I'm wondering if it's legal to use fiat money in transactions. I want to understand the legality of using government-issued currency in my daily financial activities.