Paper money is guaranteed by law to have redeemable stored value
It is a medium of exchange and a measure of value
This gives us confidence to use checks, credit and debit cards and to use electronic transfer of funds
In large-scale wholesale transactions, money can be seen as Ågtransactional informationÅh
It is transmitted electronically over closed, wire transfer systems
Now, money in retail transactions is becoming electronic
Digital cash is an electronic ÅgproxyÅh for paper $
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