Liu Bang digital currency

1. Which instries will benefit from RMB appreciation? RMB appreciation will affect different instries through two ways
firstly, the increase of capital cost and income caused by RMB appreciation will change China's economic structure in the long run, re endow instries with different growth rates, and make the performance of enterprises in different instries differentiate. Second, the appreciation of RMB will change the book value of assets, liabilities, income and cost of enterprises in the instry in the short term, and affect their business performance through the difference of foreign exchange conversion
generally speaking, RMB appreciation will benefit instries with high import proportion, large foreign debt scale, high liquidity or huge RMB assets in the long run; The impact on the export instry, the instry with high foreign currency assets or international pricing of procts is greater; Others have less influence< The main beneficiary instries include:
the real estate and infrastructure instries are non trade real estate instries, and the appreciation will comprehensively enhance the value of domestic real estate assets,
at the same time, it will improve the investment value of infrastructure instries such as airports, ports, railways and expressways, which are characterized by limited resources, monopoly or long construction cycle with small supply elasticity, The above two instries have benefited significantly
the financial instry, especially the banking instry and securities instry, is a capital intensive instry operating currency and capital business. Due to its good liquidity and liquidity, it belongs to the instry with high RMB assets, so it will attract a large number of international capital inflows and benefit from it
in aviation, electric power, oil refining, paper making, construction machinery and other instries, the benefits are mainly from the cost rection caused by the dependence on foreign procurement of raw materials or equipment, or the exchange gains and losses caused by the repayment of principal and interest e to large foreign debts, which is more prominent in the aviation instry with monopoly advantage in the domestic market
the technology import dependent high-tech instry does not have an advantage in the key technology intellectual property rights, and will maintain the momentum of a large number of imports in a certain period of time. Under the premise of exchange rate appreciation, it can maintain its own advantage in cost< The main damaged instries include:
for export-oriented instries, such as textile instry (especially clothing instry with high export dependence), followed by cotton textile instry and wool textile instry), household appliances, building materials, etc., the appreciation of RMB will greatly weaken the competitive advantage of procts
foreign trade enterprises are in a disadvantageous position in the instrial chain. It is difficult for import business to obtain excess profits from RMB appreciation, but export business will suffer heavy losses< The mining instry, petrochemical instry and non-ferrous metal instry will be impacted by the internationalization of proct pricing. However, if the currency used for energy pricing depreciates at the same time, it will benefit resource prices
the appreciation of RMB affects the stock market more through the impact on listed companies, and the impact on listed companies is mainly transmitted through the chain of import and export. The enterprises with greater dependence on import and export are more sensitive to the change of RMB exchange rate. The specific impact from different sectors is as follows:
1
2. Petrochemical instry: as a big oil importing country, China's imported oil accounts for a large part of the cost of petrochemical procts. If RMB appreciation, it will have a positive impact on the petrochemical instry as a whole. At present, Sinopec, Shanghai Petrochemical and Yangzi Petrochemical Import billions of yuan of crude oil every year, and the appreciation of RMB will rece the cost of imported crude oil
3. Textile and clothing instry: China is a big textile exporter, and the appreciation of RMB will rece the price advantage of Chinese procts, and the benefits may be reced e to the al impact of export volume and price. In comparison, the domestic market has a relatively small impact, while the export-oriented one has a relatively large impact. Now, the appreciation of RMB will rece the expectation of Europe and the United States on tariff increase of China's textile instry.
4. Home appliance instry: similar to the textile instry, China is a big exporter of low-end home appliances, such as Sichuan Changhong, Konka, etc Gree and other export sales account for a large proportion of the total revenue, and the appreciation of RMB will further rece its low profit margin
5. Automobile instry: the appreciation of RMB will increase automobile imports, which will put great pressure on existing manufacturers. However, the cost will be reced for the companies that mainly focus on assembly and purchase parts from abroad. Overall, the instry is short
6. Real estate: RMB appreciation will also have indirect positive effects on the real estate instry
7. Tourism: the appreciation of RMB and the devaluation of US dollar make the outbound tourism of domestic residents cheaper, while the inbound tourism of foreign tourists is relatively expensive, which is obviously unfavorable to the domestic scenic spot companies, but beneficial to the listed companies of travel agencies
8. Coal, nonferrous metals and other resources companies: for example, iron ore, copper ore and other resources companies are quite dependent on imports, and the appreciation of RMB will bring about a decrease in import costs. But this instry is very complex, so RMB can only be regarded as a neutral news. However, if the currency used for energy pricing depreciates at the same time, it will benefit resource prices
9. Chemical API instry: China is a big procer of chemical API. The API proced in China is competitive in the international market because of its high quality and low price. The price advantage will decrease after RMB appreciation. Related to this are TIANYAO, Kunming Pharmaceutical, Lukang Pharmaceutical, Huabei pharmaceutical, Xinhua Pharmaceutical, etc
10. Paper instry: as China relies heavily on imports of high-quality pulp, the appreciation of RMB can rece the cost of paper making, which is good for the listed companies of paper making and paper packaging
11. Small and medium-sized enterprises: the export proportion of many small and medium-sized enterprises is quite high, and the appreciation of RMB will have a negative impact on the performance of export-oriented small and medium-sized enterprises.

2. 1. Development trend of core key technologies
from the point of view of the current technology and application of blockchain, its core is distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other existing computer technologies. With the deepening of blockchain application, new and higher requirements will be put forward for these core technologies. The research results in consensus mechanism, security algorithm, privacy protection and other related technology fields will play an important role in the leapfrog development of blockchain technology and application, and will be very critical to the continuous innovation and breakthrough of these technologies
(1) the development trend of consensus mechanism
in the public chain, the common consensus mechanism has the disadvantages of low performance and high energy consumption“ The "side chain" technology can only solve some problems under certain conditions. At present, most of the mainstream consensus mechanisms in alliance chain are based on pbft and its variants. Although access control can greatly improve the performance, it also sacrifices the efficiency, constraints, fault tolerance and other aspects of the consensus. It can be predicted that consensus algorithms and decision-making with universality and better performance for some typical scenarios will continue to appear
(2) the development trend of security algorithm
security is particularly important for financial application systems. On the one hand, most of the traditional security algorithms currently used have potential "backdoor" risks, which need to be replaced by more secure national security algorithms, and the strength of the algorithms also needs to be upgraded; On the other hand, we should also prevent some new technologies, such as quantum computing, from impacting or even subverting the traditional security algorithms
(3) development trend of privacy protection
at present, the privacy protection related to blockchain is still relatively weak. Especially for sensitive data, we need to balance privacy protection and compliance supervision. Information privacy protection technology, such as zero knowledge proof, homomorphic encryption, is also an important direction of follow-up development
the above core technologies tend to be low-level computer technologies, and their development requires considerable personnel and time investment, which will be a progressive process. The research achievements and cooperation of related enterprises, scientific research institutions and colleges and universities in these fields are very important for the development of blockchain technology
2. Development trend of general development platform
at present, many IT enterprises, consulting companies, communities and technology alliances have invested in the application research and development of blockchain, established and improved the general development platform, which has a great role in promoting the application of the whole blockchain technology
similar to IAAs (infrastructure as a service) and PAAS (platform as a service) of cloud computing, the blockchain general development platform is composed of infrastructure support layer, blockchain core component service layer, and corresponding development test suite, which can provide one-stop, low-cost technical services for building and deploying blockchain applications. At present, there are some such platforms. With the rapid development of blockchain applications and the strong investment of relevant participants, its service coverage, R & D convenience, operation and maintenance intelligence, as well as high stability, large capacity and low cost are the predictable development direction.

3.

The history of Chinese currency development:

1. China is one of the earliest countries in the world to use currency, which has a history of more than 4000 years

there were cloth money, knife money, yuan money, five baht money, Tongbao, coin making, silver, silver yuan, copper yuan, as well as victims of gold and silver, grain and silk money and paper money, with a wide variety of forms and materials, which can be called the world's top currency

In the process of its formation and development, ancient Chinese currency has undergone five major evolutions:

the evolution from natural currency to artificial currency, from disordered shape to unified shape, from local coin to central coin, from document weight to Tongbao and Yuanbao, and from metal currency to paper currency "Jiaozi"

From the spring and Autumn period to the Warring States period, China has established four major monetary systems: cloth coin, knife goods, ant nose money and ring money. Later, it went through the Qin, Tang, Han, Wei, Jin, southern and Northern Dynasties, until December 1, 1948, the people's Bank of China was established and issued the first set of RMB

At the beginning of Ming Dynasty, Zhu Yuanzhang carried out the policy of paper money and issued "Daming treasure note" and copper money

However, there was no fixed issue limit and no reserve for Daming banknotes, which soon led to inflation. Therefore, after the Jiajing year in the middle of Ming Dynasty, the banknotes were no longer passable, and the folk mainly used silver and copper

The Qing Dynasty copper coins follow the Ming Dynasty system, mainly casting small flat coins. Xianfeng coins are the most complex of the Qing Dynasty copper coins, which can be divided into Tongbao, chongbao and Yuanbao, with different denominations and different money bureaus. Most of the Qing Dynasty's private businesses use silver, small money uses money, and money and silver are in parallel

In the early Qing Dynasty, silver ingot was the main currency, and in the late Qing Dynasty, silver ingot began to transform into silver yuan

Since the middle of Ming Dynasty, foreign businessmen used their silver dollars to buy Chinese silk, tea, porcelain, etc., which made all kinds of foreign silver dollars popular in China

in the reign of Daoguang in the Qing Dynasty, since the signing of the unequal treaty of Nanjing, the silver yuan used for compensation was "foreign money". At that time, China had no silver yuan in its own country, and the foreign money in stock was not enough to offset the sharply increased amount of foreign compensation, so the government of the late Qing Dynasty was forced to start casting its own silver yuan

4.

Ten thousand yuan is really a large sum. Liu Bang sent out a "huge sum" as soon as he opened his mouth, which shocked the master, Lu Taigong. Of course, Liu Bang always talks big and does little things. This time, he is even more extraordinary. His upper lip is up to the sky, and his lower lip is down to the ground. He just doesn't do things. It's amazing that a blank check can bring back a beauty. It's a comedy

Therefore, for Liu Bang, he is able to spend the gift. But since it is a gift, there is a degree, no one can be unrestrained, just look at their ability to pay, but look at the "market."

Xiao he announced that if you sit down with less than 1000 yuan, it means that more than 1000 yuan is a big number, and two or three thousand yuan is basically the upper limit. Liu Bang's "ten thousand yuan" is obviously a free talk and can't be trusted. So Xiao He said that he "talks big and doesn't handle affairs."

it's funny that Liu Bang made a free advertisement for himself when he talked big this time. Lu Taigong fell in love with his strange looking middle-aged uncle Liu Bang and pushed his beautiful girl into his arms, making a legendary marriage. Boast, blow a beautiful wife, where to reason

5.

Ten thousand yuan is really a lot of money. Liu Bang gives a lot of money as soon as he opens his mouth; Huge sum of money;, The master, Lu Taigong, was shocked. Of course, Liu Bang always talks big and does little things. This time, he is even more extraordinary. His upper lip is up to the sky, and his lower lip is down to the ground. He just doesn't do things. It's amazing that a blank check can bring back a beauty. It's a comedy

unless you are crazy, you will give away your annual income

In fact, Liu Bang may not be able to afford the expenses

in the eyes of later generations, Liu Bang is a poor man who doesn't engage in proction. He eats and swindles everywhere. Compared with vagrants, he has one more place to live. In fact, this is a misunderstanding. In the Qin Dynasty, without considerable family property, they were not qualified to obtain & quot; Civil servants; Identity, Liu Bang can do Pavilion long, it means that his family is relatively rich

Liu Bang's father, Liu Taigong, often scolds Liu Bang for being idle, unlike his second son, Liu Zhong, who is good at home. It's no ordinary family to be able to own a family. There are many similar evidences, which show that the Liu Bang family is actually a landlord family, and their living standard is much higher than that of ordinary people. But Liu Bang himself is used to wandering in the rivers and lakes and is not willing to do the job of making a fortune

6.

In the early Western Han Dynasty, the monetary system was extremely chaotic. By the time of emperor Jing of the Han Dynasty, the Western Han Dynasty had four times been in & lt; Allow the people to make their own money; And & lt; It's forbidden for people to make their own money; Back and forth between wandering, can be said to be repeated, into an infinite vicious circle

it can be said that the Western Han Dynasty reached its peak in the reign of Emperor Xuan of the Han Dynasty, and finally became & quot; Strong man;, This is the same as the reform of currency system carried out by Emperor Wu of Han Dynasty; It's all about the relationship; Yes

7. The first king of Qin Dynasty also abolished the old coins of the six countries. Based on the original coins of Qin Dynasty, he made round copper coins with square holes, engraved with "half Liang", which is legal tender. It is commonly used throughout the country and is called "half Liang" money, and later called "Qin half Liang". The answer is: a half!

8. The following is the information we found, which is mainly to calculate the precious metals in the Northern Song Dynasty. You can focus on the part of hidden rules, because the 15th year of Wanli and hidden rules are the research works of Ming history

the purchasing power of ancient gold, silver, copper and other currencies has always been an interesting topic. This gossip water margin also transforms the currency of the Song Dynasty into today's RMB in line with the modern context. Master Wuzhai is not an expert in the study of currency in Song Dynasty. It is impossible to make a complete and accurate conversion. Only a rough estimate can be given here, so that readers can have a basic concept

generally speaking, gold, silver and copper coins (in fact, copper based alloys) were the main currencies in ancient China. The silver standard system in Song Dynasty is different from that in Ming and Qing Dynasty. It is copper standard system. Copper money is the main currency, and gold and silver are not used as currency. The basic unit of copper coin is "Wen" and "Guan (Luo)", which is consistent with 1000 Wen. In Song Dynasty, there were 800 Wen and 850 Wen when finance was tight. In addition, there are also discount two money, when three money, when ten money and other disguised inflation. For example, in the day when Yang Zhi killed Niu Er, Niu Er used to make Yang Zhi test his sword with three coins. As the name suggests, one coin is regarded as three coins. When Cai Jing was Prime Minister, he even offered ten coins. In order to simplify our calculation method, the owner of Wuzhai ignores these factors

when discussing ancient coins, we usually use such a hypothesis, that is:
1 liang gold = 10 Liang silver = 10 Guan copper coin = 10000 Wen copper coin
although the exchange rate of gold, silver and copper has been floating, this assumption is basically reasonable. Wang Zengyu, a contemporary expert of Song Dynasty history, once mentioned in the chapter 7 "overcoming Xianghan" of his new biography of Yuefei that the imperial court wrote to Yuefei: "fourth, pay 60000 stone meters and 400000 Guan for military supplies. At that time, gold and silver had not been used as independent currency. Thus, it can be seen that 400000 Guan copper coins in the early Southern Song Dynasty are equivalent to 100000 taels of silver and 5000 taels of gold, which basically conforms to the above hypothesis in the order of magnitude

in order to discuss the purchasing power of money, we must first mention two famous methods. In his great history of China, Mr. Huang Renyu used the price of gold as the benchmark to calculate the value of copper coin today based on the assumption that 1 liang gold = 10 Liang silver = 10 Guan In his book "hidden rules", Mr. Wang uses both rice price and silver price as the benchmark and gives two figures. However, Mr. Wang prefers to take the data converted from the rice price

then, according to the two gentlemen's method, let's take a look at the Song Dynasty's yiguanhe today (October 2004) how much RMB

1) gold benchmark
international price, the price of gold basically fluctuates around $400 an ounce. We'll take $400 an ounce. An ounce is 28.3 grams. In the Song Dynasty, one kilogram was 640 grams. One kilogram has 16 Liang, so in Song Dynasty, one liang is 40 grams today. In this way, gold in Song Dynasty is equivalent to 565 US dollars, and in today's US dollar to RMB 8.23, it is equivalent to 4650 yuan. According to the assumption that 1 liang of gold is 10 liang of silver, that is, 10 Guan coins, the copper coins in Song Dynasty are equivalent to 465 yuan

2) silver benchmark
international price, silver price basically fluctuates around 6 US dollars an ounce. Similar to the conversion of gold price, one or two silver, that is, copper coin, is equivalent to 70 yuan

3) the price standard of rice in Song Dynasty was 640 grams per catty. In the Song Dynasty, 1 stone is 92.5 Jin (Shen Kuo's Mengxi pen talk Volume 3 says, "if a stone weighs 92.5 Jin, it will weigh 341 Jin in the Han Dynasty.". Therefore, a stone of rice has 59200 grams, or 59.2 kilograms. If we do not consider the special famine years or harvest years, the price of rice in the early Northern Song Dynasty was about 300 Wen to 600 Wen per stone, in the middle period (Renzong years), it was between 600 Wen to 700 Wen, and in the early Southern Song Dynasty, it was about 2 Guan. So it is reasonable to calculate about one Guan per stone ring the Huizong period in the late Northern Song Dynasty. If the current price of rice is 2.5 yuan per kilogram, 59.2 kg of Yishi rice in Song Dynasty is 148 yuan, that is to say, one Guan copper coin is 148 yuan

so far, we have three prices: 465 yuan for gold, 70 yuan for silver and 148 yuan for grain. Since China is not a major procer of silver, and the cost of extracting silver has been greatly reced after instrialization, the value of ancient silver must be significantly higher than the present value. Obviously, it is unreasonable to use today's silver price as a reference. This can be seen from today's silver price of $6 and gold price of $400 an ounce. Today's one or two gold can be exchanged for 66 taels of silver, while the exchange rate of gold and silver in ancient China is assumed to be 1:10. The output of gold is stable, and it is still regarded as an important hard currency reserve by countries all over the world. So it's reasonable to use gold as a benchmark

in addition, with the rapid development of modern technology, the hybrid rice of Mr. Yuan Longping has greatly improved the grain yield, but today the population consuming grain has also increased greatly. According to the geographical records of the Song Dynasty, the population of the Northern Song Dynasty was less than 50 million, while today China has a population of 1.3 billion. Food is the first priority of the people, and the price of grain should still be an important benchmark
therefore, the owner of Wuzhai took an average value of 306.5 yuan of 465 yuan of gold price benchmark and 148 yuan of rice price benchmark, and adjusted it to 300 yuan of copper. So we have the following basic conversion:

1 Liang Jin = 3000 yuan

1 liang yin = 1 Guan Tong Qian = 300 yuan

1 Wen Tong Qian = 0.3 yuan

take this exchange rate to see the salary of officials in Song Dynasty. According to the official records of the Song Dynasty, the salary of a prime minister in the Song Dynasty was 300 yuan per month, that is, 90000 yuan per month, with an annual salary of 1.08 million yuan. An ordinary county magistrate with eight grades earns 15 yuan a month, which is 4500 yuan, and an annual salary of 54000 yuan. Considering that a county magistrate in Song Dynasty only managed thousands of families, it's not bad. In Song Dynasty, besides salary, there were also salary, salary and salary,? Take a sip?, There are various kinds of subsidies, such as kitchen materials, firewood and charcoal, additional payments, public money, coupons, and farmland. It's no wonder that the Song Dynasty is said to be unparalleled for its officials. No wonder Song Jiang sharpened his head to recruit an official

from the specific examples of Water Margin, this exchange rate is also reasonable. When Wu Yong persuades San Ruan to join the gang and rob shengshengshenggang, Wu Yong asks Ruan Xiaoqi to buy a jar of wine, 20 jin of raw and cooked beef and a pair of big chickens for one or two silver. It's about 300 yuan for one or two silver. In addition, on the tenth visit to the fengxueshan temple in Linchong, Lu Qian took out a silver or two and ordered three or four bottles of good wine and dishes at Li Xiaoer's shop. Similarly, the 44th time when Dai Zong Yang Lin invited Shi Xiu to dinner, Yang Lin also threw a silver or two for the restaurant to serve food and wine. Generally speaking, an ordinary small restaurant, 300 yuan for three people, is really free to order< When Yang Zhi was selling knives in Tokyo, Niu Er once said, "what kind of bird knives? It costs a lot of money! I buy one for 30 Wen, and I can cut meat and tofu. 30 Wen a kitchen knife, that is 9 yuan, very reasonable. When Lu Zhishen was making trouble in Wutai Mountain, he used five taels of silver to customize a 62 Jin heavy water grinding Zen stick and a sword. He used very good iron. Considering that it was a top-grade weapon and specially made, 1500 yuan was not too much. But when he was born with a life plan, the white house sold to Yang Zhi's family wine had 5 yuan, and 1500 yuan was a bit too black. Maybe it was because the Baijiu liquor was a scarce commodity. Bai Sheng was in a monopolistic position. At the same time, Chao Jia group was competing to raise the price, so that the wine could be fry at a high price.

9. The unification of currency promoted the development of economy and trade at that time, and was concive to the transition from slavery to feudalism.

10.

1. Paper money is evolved from metal money in the function of money as a means of circulation. Without metal money, there would be no paper money

The paper money only performs the function of circulation means according to the value of the metal money it replaces

3. The circulation of paper money must be limited by the amount of money actually needed in circulation. If money has value, it can measure the value of other commodities with its own value, and has the function of value measurement; Secondly, if money has use value, it can act as a medium of commodity exchange. Therefore, the basic function of money is to define the value scale and circulation means, and other means of payment, storage and world money are derived from the basic function

paper money is widely used in the world today. The earliest paper money in the world is Jiaozi in Cheng, Sichuan Province ring the Northern Song Dynasty, and China is the earliest country in the world to use paper money

extended data:

the contractual nature of money determines that it can have different forms of expression, such as general equivalents, precious metal currency, paper currency, electronic currency, etc. It can be used as a medium of transaction, storage value, deferred payment standard and accounting unit. Physical currency is a special commodity that serves as an equivalent in the exchange of goods and services. It is the material and symbolic appendage of people's commodity values

it includes not only currency in circulation, especially legal currency, but also various savings deposits. In the field of modern economy, only a small part of the field of currency is displayed in the form of real currency, that is, most transactions use checks or electronic currency

currency area refers to the country or region that circulates and uses a single currency. Different currency areas need to introce the concept of exchange rate when they exchange currency with each other. In modern economy, money plays a fundamental and fundamental role