After studying illustrations of digital coins already launched in social networks, Stéphane Eyraud, Patrick Bucquet and Marie Lermite made an analysis on state-backed crypto-currencies.
What is the difference between cryptocurrency and fiat currency?
Contrary to cryptocurrency, which is a virtual currency with cryptography and based on blockchain technology, fiat currency is “legal tender” backed by a “central government”. However, fiat currencies are already digital.