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Re: Why Digital Cash is Not Being Used
From the keyboard of: "Michael V. Caprio Jr." <[email protected]>
> BTW, what is fungible? I've seen this term used several times, but have no
> idea what it means.
When I don't know what a word means, I grab for a dictionary. :-)
If we're going to implement digital cash, we need to understand at
least the basics of monetary systems, and the terms involved.
Accordingly, the American Heritage Dictionary brings you:
fungible (fun-jih-bull) adj.
1. Law. Returnable or negotiable in kind or by substitution, as a
quantity of grain for an equal amount of the same kind of grain.
fungible (fun-jih-bull) n.
Something that is exchangeable or substitutable. Often used in the
plural. [Medieval Latin fungibilis, from Latin fungh (vice), to
perform (in place of).] - fungibility n.