Репост из: lawless.tech
Private currency is the money issued by a business, an individual, or a nonprofit enterprise. But, as long as in many countries the issuance of private currencies may be forbidden, issuance of private cryptocurrency is usually not.
According to Business Insider, for a quarter of a century, America's states and territories, and the institutions within them began circulating their own currency, as the agrarian mistrust of centralized banking eventually climaxed in the destruction of the Second Bank of the United States in 1832. States, municipalities, private banks, service companies, religion institutions, groceries, bars, and individuals had printed over several thousands of different types of money by 1860. And if an issuer went out of business, things got bad. This phenomenon was called "wildcat banks" due to issuers’ unreliability, and because such businesses were often situated in remote, unpopulated locales said to be inhabited more by wildcats than by people.
http://telegra.ph/Is-Crypto-a-New-Form-of-Private-Currency-02-18
According to Business Insider, for a quarter of a century, America's states and territories, and the institutions within them began circulating their own currency, as the agrarian mistrust of centralized banking eventually climaxed in the destruction of the Second Bank of the United States in 1832. States, municipalities, private banks, service companies, religion institutions, groceries, bars, and individuals had printed over several thousands of different types of money by 1860. And if an issuer went out of business, things got bad. This phenomenon was called "wildcat banks" due to issuers’ unreliability, and because such businesses were often situated in remote, unpopulated locales said to be inhabited more by wildcats than by people.
http://telegra.ph/Is-Crypto-a-New-Form-of-Private-Currency-02-18