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
Digital gold currency transaction, while PayPal transfers, for example, could be considered more similar to credit card transactions. The advantage of this arrangement is that the operating costs of the digital currency system are greatly reduced by not having to resolve payment disputes. Additionally, it allows digital gold currency transactions to clear instantly, making the funds available immediately to the recipient. By contrast, credit cards, checks, ACH and other reversible payment methods generally have a "clearing time" of 72 hours or more. As with all financial media, there are several types of risk inherent to the use of DGCs: management risk, political risk,