The word “fiat” is Latin in origin and refers to an arbitrary order issued by a government or other authoritative figure. When applied to paper money, fiat currency refers to the scary notion that our dollar has value only because the government says it does. The United States Dollar (USD...
Digital Money Secondary Risk126 View chapterExplore book Dutch Bank Finance, 1600–1800 S.Quinn, inHandbook of Key Global Financial Markets, Institutions, and Infrastructure, 2013 Fiat Money The monetary order of 1659 was stable but stagnant for the Bank of Amsterdam. In the short run, the bank...
while fiat money is primarily valuable as a medium of exchange. Cryptocurrency is still a relatively new form of money and is often used for online transactions or as an investment.
In economics, the term “fiat” refers to a monetary theory that has fundamentally altered how people use money, not a well-known Italian automaker. The word itself is Latin in origin and means “so be it” in Croatian. During the 20th century, the idea of fiat money as a whole expande...