Fiduciary currency refers to a currency that is not backed by a tangible commodity such as gold, but by the government's trust and creditworthiness. Synonyms for fiduciary currency could include fiat currency, paper currency, legal tender, or government-issued currency. These terms all refer to a currency that is not backed by a physical commodity, but rather by the government's promise to accept it as payment for debts and taxes. In contrast, a commodity-backed currency, such as the gold standard, is backed by a tangible asset that has intrinsic value. Fiduciary currency is the most common form of currency today, used by almost every country in the world.