Homonym: modern currency (Money)
Modern currency refers to the money that is widely accepted as a medium of exchange for goods and services. It can take various forms, including physical cash, such as coins and banknotes, as well as digital currency, which exists only in electronic form. Examples of digital currency include cryptocurrencies like Bitcoin and Ethereum, which use blockchain technology for secure transactions.
In addition to traditional and digital forms, modern currency also encompasses fiat money, which is government-issued currency not backed by a physical commodity. Instead, its value is derived from the trust and confidence of the people who use it. Central banks, such as the Federal Reserve in the United States, play a crucial role in regulating and managing the supply of modern currency.