Advanced English Dialogue for Business – Artificial currency

Listen to a Business English Dialogue About Artificial currency

Lucy: Hi Taylor, have you heard about artificial currency in business and finance?

Taylor: No, what is it?

Lucy: Artificial currency refers to digital or virtual currencies that are created and managed by central banks or other organizations, often used for online transactions or as a store of value.

Taylor: Oh, I see. So, it’s like cryptocurrencies such as Bitcoin or Ethereum?

Lucy: Exactly. However, artificial currencies may also include digital representations of traditional fiat currencies, such as digital versions of the US dollar or euro.

Taylor: Are there any advantages to using artificial currency?

Lucy: One advantage is that artificial currencies can offer lower transaction costs, increased security, and greater accessibility compared to traditional forms of currency.

Taylor: That sounds interesting. Are there any concerns or risks associated with artificial currency?

Lucy: Yes, concerns include issues related to security, privacy, regulatory oversight, and the potential for volatility in value compared to traditional currencies.

Taylor: Thanks for explaining, Lucy. Artificial currency seems like an innovative development in the world of finance.

Lucy: No problem, Taylor. It’s an evolving area that could have significant implications for the future of money and financial transactions.