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1, digital currency is an alternative currency in the form of electronic money and an unregulated digital currency. It is usually published and managed by developers and accepted and used by members of a specific virtual community. It is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency was a form of electronic currency named after the weight of gold. Nowadays, digital currency, such as Bitcoin, Litecoin, PPCoin, etc., all rely on checksum cryptography to create, issue and circulate electronic money.
2. Monetary fund is an open-end fund that collects idle funds from the society, is operated by the fund manager and kept by the fund custodian. Different from other types of open-end funds, money market instruments that specialize in investing in low risks have the characteristics of high security, high liquidity, stable income and "quasi-savings". From the early 1970s to the 1980s, the United States was in a "stagflation" environment of economic recession and high inflation. At that time, the Federal Reserve controlled the interest rate of bank deposits, the interest rate of residents' deposits was lower than the inflation rate, and deposits were always in a state of depreciation. In order to attract funds, banks have introduced certificates of deposit with interest rates higher than the inflation rate. However, the initial deposit amount of this time deposit certificate is relatively large, and the minimum investment unit is often one hundred thousand or one million dollars. Only a few institutional investors have enough cash to make such investments.
For most Americans, the only financial investment products that they could participate in at that time were bank savings accounts, stocks and bonds with pitifully low interest rates. When times are hard, people will naturally look for assets with good security and strong liquidity. However, many financial assets are either too risky, illiquid or have low returns, which cannot meet the financial needs of investors. At that time, Ruth Bant, director of the cash management department and credit analyst of the world's largest pension fund teacher annuity insurance company, had a genius idea after a thorough investigation of the financial services industry: he founded a * * * mutual fund called "savings fund company" at 197 1.