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,
Currency War of 2009–11 war' is over, saying it is still on-going. In an April interview with the "Wall Street Journal", Mantega spoke out against the loose monetary policies of advanced nations which have been aggravating inflation in emerging economies. Unlike other emerging economies, China has so far chose to continue holding its currency down against the dollar, fighting inflation instead with interest rate rises. The rate rises cause even greater pressure from the markets for a currency appreciation, and to prevent this, at least in the months leading up to early 2011, China had to buy dollar assets at a faster rate than