Digital currency bitcoin is a digital currency but also a type of virtual currency. Bitcoin and its alternatives are based on cryptographic algorithms, so these kinds of virtual currencies are also called cryptocurrencies. Most of the traditional money supply is bank money held on computers. This is also considered digital currency. One could argue that our increasingly cashless society means that all currencies are becoming digital, but they are not presented to us as such. Currency can be exchanged electronically using debit cards and credit cards using electronic funds transfer at point of sale. A number of electronic money systems use contactless
Reserve currency for a global reserve currency. Nevertheless, at the beginning of the 21st century, gold and crude oil were still priced in dollars, which helps export inflation and has brought complaints about OPEC's policies of managing oil quotas to maintain dollar price stability. In 2018 a new Reserve Currency Backed Token Exchange (RCBTE) rcbt exchange was announced by exchange CEO, John Ossenmacher, the RCBT facilitates issued tokens to be backed by Reserve Currencies. This system of secure digital backed tokens opens the door to a multiple reserve currency system. 17 April 2017. Some have proposed the use of the International Monetary