Fiat
DeFiFiat currency is money that a government says is valid for paying debts and taxes. It can be in the form of physical cash, like coins and bills, or electronic money that you see in bank accounts. It is not backed by a physical commodity like gold, but by the trust in the government that issues it.
- Definition
- Fiat currency is money that a government says is valid for paying debts and taxes. It can be in the form of physical cash, like coins and bills, or electronic money that you see in bank accounts. It is not backed by a physical commodity like gold, but by the trust in the government that issues it.
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