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 bullion audits, raising concerns that such companies do not maintain a 100% reserve ratio, or that their currency is entirely virtual and not backed by physical gold at all. Due to increase of compliance requirements for payment service providers, Jersey-based GoldMoney decided to suspend its DGC service as from January 21, 2012 Digital gold currency Digital gold currency (or DGC) is a form of electronic money (or digital currency) based on mass units of gold. It is a kind of representative money, like a US paper gold certificate at the time (from 1873 to 1933) that these were exchangeable for