Currency Initiative: The Functions of Digital Money
by Marvin Dumont
As you may know, Apollo Africa has launched a Currency Initiative in the continent of 1.2 billion people. The team is developing relationships in countries like Lesotho, Comoros, Botswana, Zimbabwe, and South Africa.
What exactly are the functions of money and digital money (i.e., cryptocurrency)?
- Medium of Exchange
Cash (e.g. Apollo all-in-one privacy currency) enables the exchange of goods and services. It’s much more efficient than the barter system, which requires transporting goods (gold bars, household items, etc.) to trade for other physical goods.
Money also allows the user to easily compare the price of vastly different items. It’s more difficult to compare the barter price of one cow for (how many) swords or gallons of milk.
2. Measure of Value
Money is a unit of account that measures financial worth. It enables agreements involving debt.
It also helps to formulate prices based on supply and demand.
3. Store of Value
A stable currency is a reliable store of value. Cash can be easily saved, stored, and transported.
The stability of a currency’s value is key to earning the trust of consumers and savers.
Apollo (APL) all-in-one privacy currency combines features of mainstream cryptocurrencies in an unregulatable platform. With two-second block speed, APL is one of the fastest cryptos on Earth. “Apollonauts” use features such as Encrypted Messaging, Smart Contracts, Decentralized Exchange, Dapps, and Decentralized File Storage.
Learn more at www.apollocurrency.com
