Digital currency payment transfer in order to facilitate easy payment and give the payee more confidence in not letting go of their electronic wallet during the transaction. A cryptocurrency is a type of digital asset that relies on cryptography for chaining together digital signatures of asset transfers, peer-to-peer networking and decentralization. In some cases a proof-of-work or proof-of-stake scheme is used to create and manage the currency. Cryptocurrencies allow electronic money systems to be decentralized. The first and most popular system is bitcoin, a peer-to-peer electronic monetary system based on cryptography. A virtual currency has been defined in 2012 by the European
Digital currency Korea’s Financial Services Commission (FSC), Yim Jong-yong, announced that his department will "Lay the systemic groundwork for the spread of digital currency." South Korea has already announced plans to discontinue coins by the year 2020. Sweden Sweden is in the process of replacing all of its physical banknotes, and most of its coins by mid-2017. However, the new banknotes and coins of the Swedish krona will probably be circulating at about half the 2007 peak of 12,494 kronor per capita. The Riksbank is planning to begin discussions of an electronic currency issued by the central bank to which "is not