6 May, 2019
FiatPosted on : by : BlockGlossary
Meaning of Fiat
Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of.
Example your country currency, Naira, Dollar, Pounds, Euro etc.« Back to Dictionary Index