Form of money that has little intrinsic value compared to its face value
This article is about the monetary concept. For physical coins that are not legal tender, see token coin.
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Token money used in Oflag VII-A Murnau in German Murnau am Staffelsee
Token money, or token, is a form of money that has a lesser intrinsic value compared to its face value.[1][2] Token money is anything that is accepted as money, not due to its intrinsic value but instead because of custom or legal enactment.[3] Token money costs less to produce than its face value.[3] A banknote, e.g. a five-pound note, is token money because despite its value being 5 pounds it only costs significantly less to produce.[3] A gold coin is not considered token money.[3] The Token money system has been adopted in many businesses around the world as an effective way to exchange value between companies and customers.[4] Token money as a system is predominantly used in mobile games, but is also used in the realm of e-commerce.[4] Token money is similar to fiat money which also has little intrinsic value, however they differ in that token money is a limited legal tender.[5] The adoption of token money has improved transaction efficiency, as the practicalty of transacting with sums of gold poses a larger security risk. In a commodity economy, money is a measure of the value of goods and services (prices) within a sovereign country or the same economy, as well as a particular commodity to pay off debts.[6] The token is also used as a medium of exchange, as a store of value, and as a unit of account. Digital currencies using decentralized blockchain technology are also a form of token money.[7]
^Rutherford, Donald (2002). "token money". Routledge Dictionary of Economics (2nd ed.). London and New York: Routledge. p. 564 – via Internet Archive.
^Pettinger, Tejvan. "Token Money". Economics Help. Archived from the original on 2021-04-17. Retrieved 2021-04-09.
^ abcd"Routledge Dictionary of Economics", Abingdon, UK: Taylor & Francis, 1992, pp. 1–502, doi:10.4324/9780203208878_routledge_dictionary_of_economics, ISBN 9780203208878, archived from the original on 2023-10-20, retrieved 2021-04-09{{citation}}: Missing or empty |title= (help)
^ abSreekanth, N. P.; Gupta, Deepak (2020-10-30), "Token Money: A Study on Purchase and Spending Propensities in E-Commerce and Mobile Games", Information and Communication Technology for Intelligent Systems, Smart Innovation, Systems and Technologies, vol. 196, Singapore: Springer Singapore, pp. 507–514, doi:10.1007/978-981-15-7062-9_50, ISBN 978-981-15-7061-2, S2CID 228898344, archived from the original on 2023-10-20, retrieved 2021-04-09
^"token". dictionary.cambridge.org. Archived from the original on 2021-03-19. Retrieved 2021-03-30.
^Orchard. (2017). Token. Atlanta Review, 23(2), 76–.
^Bird; Wirtz, Bird LLP-Johannes; Jünemann, Michael (23 May 2019). "ICO: Legal Classification of Tokens | Lexology". www.lexology.com. Archived from the original on 2022-04-06. Retrieved 2021-03-30.
Tokenmoney, or token, is a form of money that has a lesser intrinsic value compared to its face value. Tokenmoney is anything that is accepted as money...
Look up token in Wiktionary, the free dictionary. Token may refer to: Token, a game piece or counter, used in some games The Tokens, a vocal music group...
token coins or trade tokens are coin-like objects used instead of coins. The field of token coins is part of exonumia and token coins are tokenmoney...
types of fiat money are a type of representative money. There is no concrete evidence that the clay tokens used as an accounting tool to keep track of warehouse...
The Classification of Money". A Treatise on Money. Vol. 1. Macmillan & Co Ltd. p. 7. Fiat Money is Representative (or token) Money (i.e. something the intrinsic...
Ethereum also allows users to create and exchange non-fungible tokens (NFTs), which are tokens that can be tied to unique digital assets, such as images....
native token (FTT). Following this revelation, rival exchange Binance's CEO Changpeng Zhao announced that Binance would sell its holdings of the token, which...
occasionally cooperated with US law enforcement to return money lost in such scams. BNB (Build'N'Build) is a token on the BNB chain. It was originally called Binance...
broadcast transactions, send and receive Ethereum-based cryptocurrencies and tokens, and securely connect to decentralized applications through a compatible...
digital money in a nation and holds the same value as the country's paper currency. Like a cryptocurrency, a CBCD is held in the form of tokens. CBDCs...
up their tokens as collateral. In return, they get authority over the token in proportion to the amount they stake. Generally, these token stakers get...
incorporates concepts such as decentralization, blockchain technologies, and token-based economics. Some technologists and journalists have contrasted it with...
Numismatics portal Complementary currency List of digital currencies Tokenmoney Virtual goods European Central Bank (October 2012). "1". Virtual Currency...
the resources required to make TON a reality, Telegram launched a Gram token (later renamed Toncoin) sale in Q1 2018. Durov considered venture capital...
DBS. The banks traded using smart contracts against liquidity pools of tokenized Singapore government bonds, Japanese government bonds, yen, and Singapore...
not owned by any one entity, rather DApps distribute tokens that represent ownership. These tokens are distributed according to a programmed algorithm...
offering of securities, and money laundering. SafeMoon was released in March 2021. A compound of "Safe" and "Moon". The token was released with the slogan...
central bank digital currency (CBDC). USDC is available as an Ethereum ERC-20 token, and on other blockchains. Visa began a pilot program to send USDC over...
January–June 2018. The first token sale (also known as an ICO) was held by Mastercoin in July 2013. Ethereum raised money with a token sale in 2014, raising...
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