Digital currency do not have checking or savings accounts and credit cards alone. The electronic currency will be backed by the assets of the Central Bank of Ecuador", the National Assembly said in a statement. In December 2015, Sistema de Dinero Electrónico ("electronic money system") was launched, making Ecuador the first country with a state-run electronic payment system. Germany The German central bank is testing a functional prototype for the blockchain technology-based settlement of securities and transfer of centrally-issued digital coins. Netherlands The Dutch central bank is experimenting with a bitcoin-based virtual currency called “DNBCoin”. India Unified Payments Interface (UPI) is an
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