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 resulted in numerous senior central bankers and finance ministers warning of a possible fresh round of currency war. First to raise the alarm was Alexei Ulyukayev, the first deputy chairman at Russia's central bank. He was later joined by many others including Bahk Jae-wan, the finance minister for South Korea, and by Jens Weidmann, president of the Bundesbank. Weidmann held the view that interventions during the 2009-11 period were not intense enough to count as competitive devaluation, but that a genuine currency war is now a real possibility. Japan's economy minister Akira Amari has said that the Bank of Japan's