Design and Implementation of Digital Cash Transaction System
Design and Implementation of Digital Cash Transaction System.
ABSTRACT
This Digital Cash Transaction System is the act of exchanging goods and services is an old and enduring venture. The fact that man cannot satisfy his own needs all by himself has necessitated the need to trade. Trading has evolved from its primitive stages to a more advanced and sophisticated form.
One of the primitive forms of trade is the trade by barter. The trade by barter preferred to some extent the necessary solution to the problem of exchange; it however, has so many inadequacies attached. The problem of mutual coincidence of wants among others is a major setback to the development of the system.
An emerging generation of information technology (IT) survey, Nigerian are driving the for e-payment system which is becoming increasingly popular because of its convenience.
INTRODUCTION
The act of exchanging goods and services is an old and enduring venture. The fact that man cannot satisfy his own needs all by himself has necessitated the need trade. Trading has evolved from its primitive stages to a more advanced and sophisticated form.
One of the primitive forms of trade is the trade by barter. The trade by barter preferred to some extent the necessary solution to the problem exchange; it however, has so many inadequacies attached.
The problem of mutual coincidence of wants among others is a major setback to the development of the system.
The advent of the paper cash system was a major breakthrough in the system exchange (trade) as paper cash possesses certain properties (homogeneity, portability malleability), is backed by the government and the central bank is a legal tender for exchange. The paper cash system indeed contributed enormously to the ease with which trade is being carried out.
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hftp://vrm.vri.com/issuel3/LLL(IRONlCNlO!L\ WCfl’.l. (Sif . html
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