Feature: Jonathan Strock
Digitalisation of Casinos By Jonathan Strock
W
hat exactly is money, or currency? What characteristics does it have? We are moving increasingly digital, so we need to consider these questions. First of all, what is its function? According to the Bank of England, money has three main roles: 1) It is a unit of measure. It allows people and companies to value goods and services, and also to evaluate what they owe and are owed by others, 54
2) It is a means of payment, for the aforementioned goods and services, and 3) It is a means of storing value, allowing for a way of saving until needed. As a simplification, there are two main kinds of money. The first is “central bank money” which, as can be guessed from its name, is the responsibility of the central bank, and is generally used by the general www.casinolifemagazine.com
