How did the idea of electronic cash transactions begin?
How did the idea of electronic cash transactions begin?
Proceeding from the idea of encryption and decoding, as well as coding analysis, the idea of creating digital currencies was born Cryptocurrency, that is, the digital virtual currency that has been encrypted for secure and confidential transactions, as it is created and stored electronically without a supervisory authority or a central bank controlling it, and it has no physical entity such as currencies Other regular or so-called mandatory cash issued by central banks such as the Saudi riyal (SAR), the euro (EUR) or the US dollar (USD).
The idea of a digital or electronic alternative to the usual cash transaction began in the late eighties approximately in the Netherlands in a series of refueling stations or petrol stations on the highway in which many thefts occurred, and the administration tried to find a solution to this problem, so the administration hired a group of programmers and developers to link money to cards Ethe specially through which drivers wishing to deal with these stations can obtain fuel from them without the need to deal with paper money in those stespeciallynd thus there is no or at least the money will be significantly reduced from the stations in order to reduce cases of theft, after which the idea of the birth of smart money cards developed, Which used to reflect the idea of money saved in an electronic form encrypted in the card, while at the gas station there is a device to decode that code, which is the point of sales or what is known today as the idea of POS or point-of-sale. This is the first image of electronic money that has evolved to reach what it is now.
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