Digital currency payment transfer in order to facilitate easy payment and give the payee more confidence in not letting go of their electronic wallet during the transaction. A cryptocurrency is a type of digital asset that relies on cryptography for chaining together digital signatures of asset transfers, peer-to-peer networking and decentralization. In some cases a proof-of-work or proof-of-stake scheme is used to create and manage the currency. Cryptocurrencies allow electronic money systems to be decentralized. The first and most popular system is bitcoin, a peer-to-peer electronic monetary system based on cryptography. A virtual currency has been defined in 2012 by the European
Currency War of 2009–11 a "scapegoat" for the US's failings. China accused the US of waging the currency war and that it has "exercised financial policies characterised as 'economic egoism.'" In April 2011, the "Financial Times" reported that Chinese officials have signalled 2016 as a date when they expect to stop intervening against their currency by buying dollar assets. Brazil is a large economy which has generally allowed their currency to float freely, with the exception of some low level interventions to counter large capital inflows resulting from major stock sales. As a result, since early 2009 her currency has risen substantially against the