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
Currency War of 2009–11 relaxing some of Brazils anti-appreciation controls. Alarms were raised concerning a possible second 21st currency war in January 2013, this time with the most apparent tension being between Japan and the Euro-zone. Following the financial crisis of 2008 widespread concern arose among advanced economies concerning the size of their deficits; they increasingly joined emerging economies in viewing export-led growth as their ideal strategy. In March 2009, even before international cooperation reached its peak with the 2009 G-20 London Summit Economist Ted Truman became one of the first to warn of the dangers of competitive devaluation breaking out. He also coined