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Electronic Gold Terminology
Common terms partaining to electronic gold ...
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a collection of abbreviations, phrases, terms, and words,
pertaining to the subject of: electronic gold.
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Numeric A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
allocated storage: Physical gold and other precious metals contained in a secure vault or repository and designated for use in an electronic gold payment system.
avoirdupois weight: Series of weight units based on a pound consisting of 16 ounces, and an ounce consisting of 16 drams.
bar: Solid material shaped into a block with its length longer than its width or height.
bullion: Gold, palladium, platinum, or silver metal formed into bars or ingots.
buyer: Person or business using the Internet to purchase a merchant's products or services. The buyer may or may not have an electronic gold account.
Cambio: Business providing a two-way exchange service between: (1) national currencies, and/or physical precious metal coins and bars (gold, silver, palladium, and platinum), and (2) electronic gold and/or other electronic precious metal for a fee.
chain of integrity: Standard of authenticity and certification established to ensure that precious metals stored in a repository or vault contain the purity and weight claimed. A common chain of integrity usually relies on physical precious metal bullion characteristics meeting the London Good Delivery Standard established by the London Bullion Market Association.
currency: Easy-to-handle items designated a specific value by a government for the purpose of facilitating buying and selling of products and services in an economy. Typical items include: banknotes, coins, paper money, treasury notes, etc.
currency (electronic - 1): Currency stored and transferred electronically, usually over the Internet. The non-gold backed electronic currencies are simply electronic versions of conventional money. The gold-backed currencies differ in that each unit of currency is backed by gold and/or other precious metals.
currency (electronic - 2): Non-interest bearing financial instrument circulated as a medium of exchange where it is accepted as such. Electronic currency is used primarily on the Internet.
currency (fiat): Paper money which cannot be converted into coins or metal of equivalent value.
currency (fractional): Paper money with denominations smaller than a basic monetary unit.
denomination (1): Specific value in a series of values, such as money.
denomination (2): Specific size in a series of sizes.
DGC: Digital Gold Currency.
digital gold: Electronic gold.
eCurrency Trade Association (eCTA): Association was formed to provide guidelines for online currency exchange providers. Members have established a dependable service record.
ecurrency: See currency (electronic).
e-gold: Trademark of e-gold Ltd, a Nevis Corporation.
fiat money: See money (fiat).
financial instrument: Legal document containing some legal right or obligation and having a monetary value. Examples: checks, money orders, agreements (credit card, line of credit, etc.), bank notes (US dollars, etc.), and contracts.
gold merchant: Business accepting physical gold as payment for products and services offered.
gold vendor: See gold merchant.
gold price: Rate gold can be exchanged for various national currencies.
gram:: Metric unit of weight equal to 1/1000 of a kilogram (1000 grams).
holding: Amount of gold or other precious metal in an electronic gold account.
ingot: Mold designed to receive molten metal in shapes convenient for storage or transporting.
key (1): Alphanumeric string of characters used to encrypt or decrypt information.
key (2): Instructions controlling the encryption and decryption of messages.
legal tender: Something used as an approved medium of exchange. Examples: paper money, coins.
merchant: Person or business using the Internet to sell products or services with a valid electronic gold account.
metric system: System of weights and measures based on decimals (1s, 10s, 100s, etc.), and the meter (for length) and the kilogram (for weight).
monetary (1): relating to money.
monetary (2): Relating to the means by which money is circulated and supplied in an economy.
monetary unit: A currency's standard unit of value.
money (fiat): Money declared by a government to be an approved medium of exchange, but which cannot be converted into something of known value. Fiat money is usually only backed by the good faith of the group issuing it. An example of fiat money is the USA dollar.
money (paper): Specially printed paper of a specific size, shape, and designated value which is authorized, created, issued, and circulated by a government or a central bank as a form of money.
non-repudiable: Characteristic of a payment which cannot be revoked or reversed. Credit card purchases are repudiable. Electronic gold is not.
outexchange: To exchange electronic gold for conventional money usually for a fee.
payment: Specific amount of electronic gold or other electronic precious metal transferred from a payer's account (person making the payment) to a payee's account (person receiving the payment).
PGM: Precious group metals.
repository: Secure location where precious metals are stored for safekeeping. Common locations include: bank vaults, commodity exchange warehouse, mints, underground rooms, tunnels, etc.
SCI: Shopping Cart Interface.
troy ounce: Ounce of weight equal to 1/12 of an avoirdupois pound.
troy weight: Weight based on an avoirdupois pound divided into 12 ounces, and an ounce containing 480 grains.
vault (1): Underground room or storage compartment.
vault (2): Room or compartment used for the safekeeping of valuables.
wallet: Ecurrency software program typically used to: generate cryptographic keys that identify specific ecurrency accounts, display account balance, make payments, deposit payments, etc. Wallet programs need to be installed on an account holder's computer.
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1. Information Organization: Section 1 contains a collection of common electronic gold terms, organized alphabetically. Each term is organized into a general format. Format details can be found in the Mine Specifications.
2. Term Submissions: are welcome. Current contact information can be found at Mine Information.
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Last Update: November 30, 2004
Web Site: theinternetmine.com
Document: t52.htm; The Internet Mine, Electronic Gold Terminology
Description: Contains a list of common electronic gold terms.
Trademarks: E-Gold (e-gold Ltd, a Nevis corporation)
Copyright: © 2002-2004; The Internet Mine; All Rights Reserved
Distribution: For personal use only. Document must remain unchanged.
Contact: See Mine Information Page.