Sentences with phrase «unit of account»

But calories do work well as units of account, which means that it's too early to write them off.

They want a stable unit of account, and don't want the possibility that they lose a lot of money as a result.

Only who is in possession of an individual private key has authority on certain units of accounts.

With the rise of cryptocurrencies, the term «coin» has come to refer to individual units of account within a particular cryptocurrency.

It explains that cryptocurrencies can be traded digitally and used as unit of account.

Money should be a stable unit of account and should be liquid.

That trend won't continue, and it will still be some while before Bitcoin has the kind of low volatility that makes it a reasonable store of value or unit of account for people whose alternatives are the dollar, the Euro, and other major currencies.

Currently, according to the IMF, virtual currencies are unable to function as money because of the high price volatility, the relatively small size of the virtual economy, and the fact that virtual currencies are hardly being used as independent units of account in a closed - circuit economy.

Wala is set to launch a new utility crypto - token, Dala, which will support the operationalisation and further development of scalable, blockchain - enabled financial platforms for emerging markets around a common unit of account and micro-economic incentive structure to create strong network effects.

While some people use bitcoin or other cryptocurrencies simply because they have no other option available to them for a particular type of transaction, Peetz and Mall argue that bitcoin is not a transactional currency — mainly due to its inability to act as a reliable unit of account.

While the volatility of Bitcoin has decreased significantly since it launched in 2009, it is still not a good unit of account or a stable store of value.

It would have been easier to keep cross external balances in equilibrium with a truly international unit of account, as proposed by Keynes at the Bretton Woods conference.

It was this that led us at the University of Edinburgh to look at the economy and the numerous interactions within it using not money, but a physical unit of account: the energy embodied in goods and services as they are brought to the market.

This term means a monetary system where the government of a definite country standardizes their economic unit of their account that is the currency, to be easily converted into fixed weight of gold and vice versa.

The basic principle was established very early on in the UNFCCC process that it is national - source CO2 (and other greenhouse gas) emissions that are the basic unit of accounting.

Bitcoin will be the currency, the primary unit of account and store of value.

The payment system does not handle physical currencies, like the dollar or the euro; instead, it uses its own unit of account, which is called Litecoin (LTC).

It's really important to note that Bitcoins don't truly exist and that they're just units of accounts on the Bitcoin ledger — blockchain.

The digital currency was linked to gold — with the typical unit of account being grams or troy ounces.

The central banking chief said that Bitcoin and its peers are poor stores of value, inefficient media of exchange, and virtually non-existent as units of account.

Honest money, where a stable unit of account is maintained, rather than trying to trick people into doing more or less through monetary policy.

Dala will support the operationalization and further development of scalable, blockchain - enabled financial platforms for developing markets around a common unit of account and microeconomic incentive structure to create strong network effects.

While USD does offer relatively low volatility for those that want a reliable unit of account and store of value, it doesn't offer user control because it's controlled by the Federal Reserve Bank and requires reliance on the US banking system for significant commercial use.

Not a good unit of account!).

In economics jargon: deflation is harmful when a currency is used as an an economy's unit of account.

Currency has three primary functions: a store of wealth, a unit of account and a means of exchange.

The bill defines virtual currency as «a digital representation of value that can be digitally traded and functions as a medium of exchange, a unit of account, or a store of value but does not have legal tender status as recognized by the United States government.»

With concurrent work by core developers pushing scalability and fee - reducing upgrades into the tech stacks, cryptos may finally be poised to begin gaining acceptance as a means of exchange and a unit of account - in other words, ready for use in daily transactions.

For the purposes of the act, virtual currency is defined as a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and is not legal tender, regardless of being denominated in legal tender.

CNY is the abbreviation for the Chinese yuan, the unit of account for the renminbi (RMB).

According to the IRS, «Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and / or a store of value.

The settlement layer will have a unit of account, while the other layer will run smart contracts and will be programmed to recognize identity, assisting compliance and allowing blacklisting.

At only two pages, the concise bill is not very substantive, save for a brief classification of «virtual currency» as «any type of digital representation of value that; 1) Is used as a medium of exchange, unit of account or store or value; and 2) Is not recognized as legal tender by the United States government.»

And on Friday, a UBS report suggested the dollar could be included in the calculation of the International Monetary Fund's special drawing rights (SDR), its unit of accounting, over the next decade.

Wide swings in the price of bitcoins vis á vis other things will obviously tend to suppress its utility as a store of value or unit of account.

The Obama administration softened its insistence upon Chinese domestic reform, instead showing greater support of the inclusion of the Chinese currency in the Special Drawing Rights basket used by the IMF as a unit of account, «provided the currency meets the IMF's existing criteria in its SDR review.»

«At this time, the general judgment is that their volatile valuations, and inadequate investor and consumer protection, make them unsafe to rely on as a common means of payment, a stable store of value or a unit of account,» the report said.

There have been plenty of cryptocurrencies over the years, and they have all exhibited potential for storing value, operating as a unit of account and proving a reliable medium of exchange.

You can use it to compare the value of assets (Unit of Account) and keep your books in it.

It needs to be this so that it can be the best interface as a unit of account versus the currencies of the real world, the U.S. dollar or the Euro for example.

«Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and / or a store of value.

Besides the traditional functions of money (store of value, medium of exchange, unit of account), international exchange rates give a new dimension to currencies with several different ways of profiting from them (with the risk of losing money as well).

The customer acquires the virtual currency «bitcoin» which in the opinion of the Bundesanstalt für Finanzaufsicht (BaFin)(Federal Financial Supervisory Authority) are units of account and therefore regarded as financial instruments pursuant to § 1 para. 11 KWG.