Monerium and the firm behind the Algorand Blockchain, joined hands to issue an e-money thru the Algorand Blockchain protocol.

Monerium, that is a e-money services Firm, was provided the license from the Iceland regulators, to operate electronic cash system, will issue it using the Algorand Network.

The projects are directed to Euro Nations, such as Iceland, Norway and Liechtenstein and the digital cash will be denominated in US dollars, euros, Icelandic krona and british pounds.

But what is Cryptocurrency, Blockchain and e-money?!

Cryptocurrency is a virtual digital currency secured by cryptography making it hard or impossible to counterfeit, many works in descentralized environment and based in Blockchain (a distributed "digital book" supported by a network of computers spreaded around the Planet), not issued by any centralized Institution immune from Manipulation or interference by the Government Authorities.

Electronic Money (e-money) is a Fiat currency existing in the banking computer system, and used (mostly) to make the electronic transactions more easier. This kind of system of cash is backed by really physical national currency, and may exchanged for it anytime in tangible money.

E-money is issued accordingly to Central bank regulations and licensed to entities to operate the system.

This differences between the Crypto and e-money only reinforce that, firms are implementing really Fiat currencies in the Blockchain network, giving it more robust protection and transparency on the transactions.