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 to brand China as a currency manipulator from his first day of office. In October, Alan Beatie and Alice Ross for the "Financial Times" noted that the global trade imbalances which had driven the currency war have been sharply reduced. However, they suggest that without further reforms, the imbalances may soon widen again. They also note that Mantega once more raised the alarm about competitive devaluation, following the United States's launch of QE3 in September. In mid January 2013, Japan's central bank signaled the intention to launch an open ended bond buying programme which would likely devalue the yen. This