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Simple English definitions for legal terms
Internet scrip
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A quick definition of Internet scrip:
Internet scrip: This is a type of currency that can only be used online. It's like a gift card that you can only use to buy things on the internet. It's called "scrip" because it's not real money, but it can be used to buy real things.
A more thorough explanation:
Internet scrip is a type of digital currency that can be used to purchase goods and services online. It is similar to traditional scrip, which is a form of currency that can only be used at specific businesses or locations.
For example, some online retailers may offer internet scrip as a reward for completing surveys or other tasks. This internet scrip can then be used to purchase items from that retailer's website.
Another example of internet scrip is cryptocurrency, such as Bitcoin. While not all cryptocurrencies are considered scrip, they do share some similarities, such as being decentralized and not backed by a government.
Overall, internet scrip provides an alternative form of payment for online transactions and can be a useful tool for both businesses and consumers.