ELI5, How is virtual money tracked?

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So I log into my banking app right and it says I have x amount of money. Could someone with the correct access Just add a 0 to that? If not why not? Who/what keeps track of that stuff?

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Anonymous 0 Comments

A key part of “modern” (centuries old but still new in the scheme of things) is “double entry book keeping”.

That basically means that every change in a balance (e.g. you having more money) is accompanied by an equal and opposite change (i.e. another player having less money).

The advantage here is its easy to audit – the bank just checks all the transactions pair off and sum in each account to the same amount. If anyone fakes a transaction it’s relatively likely the person missing money lets the bank know as they want it back.

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