Transacting With the Eurodollar System

The Eurodollar is a system that allows people to transfer money around the world without having to use physical currency. In an example, let's say you have $5 in your pocket and are transacting with someone on the other side of the planet. You can intermediate through this Eurodollar system to get that transaction done. The banks connect together in ad hoc fashion where they don't send physical currency from one to the other but just keep track of it on a ledger.