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
Currency War of 2009–11 the rise in the Euro in the latter half of 2010 was China's purchase of Euro-denominated bonds. While China's intervention was in some ways helpful for the Eurozone, it also generated concern with several European officials speaking out against the action. These officials included: ECB governor Jean-Claude Trichet and Eurogroup president Jean-Claude Juncker. Japan also has a large current account surplus, and in 2009 and 2010 the country allowed the Yen to appreciate. However, in September 2010 Japan twice intervened to effect a devaluation. Japan has a number of challenges that limit its ability to allow ongoing currency appreciation, including