Off-Ledger Currency

      Cryptocurrencies exist due to the robust anti-double-spending capabilities endowed upon them by blockchain ledgers. A currency is only as valid is the ledger upon which it lives; even traditional fiat currencies have centralized ledgers on which they are accounted for. 

     Off-ledger currencies are digital assets that exist without a universal accounting ledger. These assets can typically be summed up in one simple word; scams.