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
Currency War of 2009–11 intervening on a wider scale back in 2009. George Soros expressed concern saying "I share the growing concern about the misalignment of currencies. Brazil’s finance minister speaks of a latent currency war, and he is not far off the mark. It is in the currency markets where different economic policies and different economic and political systems interact and clash." Considerable attention had been focused on China. For much of 2009 and 2010, China has been under pressure from the US to allow the yuan to appreciate. Between June and October 2010, China allowed a 2% appreciation of the yuan, but