Digital-currency-based

Describing systems, platforms, or transactions that primarily rely on or utilize digital currencies (also known as cryptocurrencies) for their operation. This includes the storage, transfer, and exchange of value using decentralized or centralized digital tokens. digital-currency-based systems often leverage blockchain technology, smart contracts, and cryptographic principles for security and transparency. The prevalence of these systems are a direct result of technological development and evolving economic and societal shifts. They also offer a potential for disintermediation by removing the need for traditional financial institutions.

Digital-currency-based meaning with examples

• The company is developing a digital-currency-based payment gateway, allowing users to easily purchase products with Bitcoin and Ethereum. This integration aims to capture a growing segment of the market that prefers decentralized financial solutions, driving further growth and engagement.
• Financial institutions are exploring digital-currency-based lending platforms to offer collateralized loans using cryptocurrencies. This provides new opportunities for both borrowers and lenders to enter the market using these new forms of currency.
• The artist launched a digital-currency-based NFT marketplace, enabling creators to sell their art and receive royalty payments in cryptocurrency. This provides artists with new avenues for distribution and monetization within the global economy.
• Researchers are studying digital-currency-based voting systems to enhance security and transparency in elections. This emerging technological paradigm can help prevent the manipulation and corruption of voting systems around the globe.
• The government is considering regulations for digital-currency-based exchanges to protect consumers and prevent money laundering. These policies must be carefully crafted to encourage innovation and the adoption of the new technology.