Digital currency and crypto currency are different concepts that overlap, except that for practical purposes all crypto is digital. Those are all good questions. They all have solid answers. The answers are complex (just like understanding how a central bank-managed fiat currency works, it takes a deep dive for the details), but all available in the public domain if you research them. Most people don't fully understand fiat currencies, or even know that the Fed is not owned by the government. Dave probably meant a simple understanding, like "I pay with a card instead of cash," which by now everybody understands, even if all the electronic connections and server banks are not transparent to everyone.

Digital currency and crypto currency are different concepts that overlap, except that for practical purposes all crypto is digital. Those are all good questions. They all have solid answers. The answers are complex (just like understanding how a central bank-managed fiat currency works, it takes a deep dive for the details), but all available in the public domain if you research them.