Digital currency founded DigiCash, an electronic cash company, in Amsterdam to commercialize the ideas in his research. It filed for bankruptcy in 1998. In 1999, Chaum left the company. In 1997, Coca-Cola offered buying from vending machines using mobile payments. After that PayPal emerged in 1998. Other systems followed suit, such as e-gold, but it faced issues because it was used by criminals and was closed by U.S Department of Justice in 2005. In 2008, bitcoin was introduced, which marked the start of digital currencies. Origins of digital currencies date back to the 1990s Dot-com bubble. One of the first was E-gold,
Digital gold currency data security and exchange risk. DGCs, like all financial institutions and public securities, have a layer of risk in the form of the management of the issuing institution. Controls aimed to limit management risk are called "governance". All other DGC providers operate under self-regulation. DGC providers are not banks and therefore not subject to many bank regulations that pertain to fractional reserve lending as they do not engage in lending. However, DGCs do provide a method for transferring currency from one person to another, and therefore may fall under regulations pertaining to money transmitting in various jurisdictions. The Global Digital