Bank digital currency system

1. It is reported that the Central Bank of China is testing the digital currency based on blockchain
according to media reports, the people's Bank of China has completed a test on December 15, which shows how to conct transactions and clearing in the distributed ledger system
it is reported that this test was concted jointly with China's mainstream commercial banks, including ICBC, Bank of China and Weizhong bank< The report reads: "the people's Bank of China believes that digital currency can not only rece circulation costs, but also increase transparency, inhibit money laundering and tax evasion."
the report even suggests that Shanghai bill exchange pilot digital currency and set up a national bank bill transaction. At the same time, the people's Bank of China will also establish a digital currency Research Center, and is recruiting experts in big data, cryptography and blockchain technology< The report comes after Zhou Xiaochuan, the governor of the people's Bank of China, issued a statement in February in which he hinted that the people's Bank of China was considering using blockchain to issue digital currency
moreover, this test was concted at the time when the people's Bank of China launched an investigation into China's bitcoin exchange, which started early this month and has led to many changes in trading policies
as the world's first standard digital currency, Puyin takes 1 billion Tibetan tea as the primary standard asset, writes 1 billion Tibetan tea assets into the blockchain through digital encryption technology, and records the identification, evaluation and right confirmation of Tibetan tea.

2.

The digital currency of the central bank is DCEP

the name of the digital currency developed by the central bank is DCEP (digital currency electronic payment). DC is digital currency. EP is electronic payment. Payment transmits digital things through a certain way, not paper currency. Therefore, electronic payment itself has the attribute of digital currency

The characteristics of digital currency are: low transaction cost; Fast trading speed; Highly anonymous

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Application of digital currency

I. fast, economic and safe payment and settlement

cross border payment helps RMB internationalization. In 2015, the settlement volume of cross-border payment involving current account is about 8 trillion yuan. To accelerate the internationalization of RMB, cross-border payment and settlement procts and solutions with low cost, high efficiency and low risk are needed

At present, there are still a lot of repetitive human work in the bank's electronic loan process and processing process, and as the basic support of loan issuance, many of the collateral has the situation of false pricing or multiple or even no collateral. We can consider using digital currency to price and track bank collateral:

3. Bill finance and supply chain finance

in recent years, various bill market businesses based on commercial bills have grown rapidly, and bill financing procts have become a hot area of Internet financing. However, about 70% of the current bill businesses in China are still paper transactions, Supply chain finance is also highly dependent on labor costs

reference materials

network digital currency

3. It is very clear in the speech of the central bank that the digital currency is M0. What is M0? M0 is cash. We speculate that the basic framework for the central bank to issue digital currency in the future should be a two-tier structure. The core is the database of the central bank, and the periphery is the blockchain of different instries, regions and third parties. Why? Only by using a decentralized system in the second layer can you ensure that the money is controlled by the users themselves and that the digital currency really becomes M0

we speculate that once the central bank issues digital currency in the future, the periphery of the structure must be a decentralized system. At present, blockchain is the best choice

when talking about digital currency, the central bank also mentioned another concept, which is called programmable currency. How to understand? For the computer, it has a certain internal self-control function. Take the early object-oriented language as an example, it requires at least two functions, one is the constructor, the other is the destructor. You have to solve the problem of its creation as well as its extinction

through programming, the central bank can control the whole life cycle of money creation, circulation and withdrawal

in the absence of digital currency and programmable currency, the currency issued by the central bank circulates freely in the society. How to return to the cage in the end? One is the return of derivative currency of commercial banks, the other is the return of basic currency of central bank. The former is controlled by the central bank through deposit reserve and other policies, while the latter is controlled by the tax system. If we go up to programmable digital currency in the future, the central bank will have much more control. Even in circulation, control can be increased. That's why central banks are very interested in blockchain technology.

4.

there is no . In response to the online transmission of China Construction Bank mobile app online digital currency in personal wallet, CCB responded on the evening of August 29 that CCB carried out relevant function test in mobile banking system on the evening of August 28, at present, this test has ended . At present, Internet information is the testing content in the process of technology research and development, does not mean that digital RMB is officially launched

it is reported that recently, the app of China Construction Bank launched the digital currency wallet, which surprised people. Users only need to bind their own bank card on the digital currency wallet to open it. In addition, the app of China Construction Bank has added two submenus of digital wallet recharge and digital currency, indicating that users can use the digital RMB wallet to recharge, It is mainly divided into app wallet and hardware wallet

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many companies speed up the layout

recently, there are many rumors about digital RMB, which are also reflected in the capital market. Judging from the performance of the digital currency sector, it recently hit a new high this year

some listed companies revealed that they would pay attention to the field of digital currency and actively lay out their plans. On the e interactive platform of Shanghai Stock Exchange, Qi an Xin said that the pilot test of digital currency has brought more market opportunities for security manufacturers from the new security project opportunities brought by the upgrading of financial IT system, and the company has been paying attention to and actively arranging

The company has been paying close attention to and actively following up the technology and application trends related to digital currency, and has continued to make layout in technology R & D and proct development. In the process of promoting the implementation of digital currency by the central bank, Youbo will also contribute to the digitalization of RMB and the implementation of offline merchant payment scenarios

Shenzhou Holdings said in the China Daily News that its Shenzhou information has participated in the central bank's digital currency (DC / EP) test and related promotion work of a commercial bank, involving the electronic payment scenario test of encrypted digital currency. As one of the important systems required for the later promotion of DC / EP, Shenzhou information has completed relevant technical reserves, In the future, it can help commercial banks realize the implementation and promotion of digital currency

5. Digital currency platform development needs professionals to be responsible for, but now digital currency technology has matured, the difficulty of development has become very simple, has become a standardized technology. Today's digital currency technology is not the highlight, but the application scenario of this kind of digital currency
the birth and popularity of bitcoin all over the world depends on the concept, which is in the foreword of the times. However, bitcoin has been preconceived and cannot be replaced by other digital currencies. Although some counterfeit currencies were popular for a while later, they slowly went down in the end, only bitcoin strengthened. Puyin is another shortcut, as a standard system of digital currency appears, behind the endorsement of related tea assets, its value is recognized by the society.

6. China's only national licensed virtual digital currency pilot operation base does not exist. China has reservations about digital currency, and digital currency is still in a gray area in China. China's regulation of digital currency is still a blank. Although the central bank claims to issue its own digital currency, this kind of digital currency is more just the digital currency of RMB, which is totally different from the design principles of bitcoin, Ruitai currency, Laite currency, thousand gold card and other digital cryptocurrencies. The digital currency that the central bank plans to issue puts more emphasis on control, and the central bank needs to have absolute control and issuing power. The central bank is the only operating body.

7.

1. 0006851e: perfect Amethyst

2, 00068523: perfect sapphire

3, 0006851f: perfect diamond

4, 00063b47: Diamond

5, 0005acdb: adamantine

6, 0005acdd: meteorite

7, 0005acde: Gold

8, 0005acdf: Silver

9, 0005ace0: montmorillonite

10, 0005ace1: Malachite

11 0005ace2: mercury ore

12, 000db8a2: dwarf metal ingot

13, 0005ace3: silver ingot

14, 0005ace4: iron ingot

15, 0005ace5: steel ingot

16, 0005ad93: emery ingot

17, 0005ad99: meteorite ingot

18, 0005ad9d: Ebony block

19, 0005ad9e: gold ingot

20, 0005ad9f: refined Moonstone

21 0005ada0: Mercury block

22, 0005ada1: refined Malachite

23, 00063b42: Ruby

24, 00063b43: Emerald

25, 00063b44: sapphire

26, 00063b45: garnet

27, 00063b46: Amethyst

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ancient scroll 5 is the same as ancient scroll 4: annihilation, There are six difficulties in the game: novice, apprentice, ordinary, difficult, master and legend. Normal difficulty is the default difficulty of the game. Different difficulty of the game, players have different lower limits of resistance, monsters have different amount of blood, different enrance, damage increases, drop becomes better, enchant soul consumes faster

legendary difficulty: Skills upgraded to 100 can be "legendary". This will bring the skill value back to 15, and the perks will be removed, allowing players to upgrade again

this effectively removes the upgrade bottleneck, and the player level will be higher. At the same time, because the ability of monsters in the game is related to the player's level, the enemy will be stronger when the player's level is higher, and the player's ability has not increased (or even regressed), so it is more challenging

8. The calculation force obtained is that of URU

9. It is reported that the central bank's research on the issue of digital currency is not a temporary move. Since 2014, the research on the central bank's digital currency has been carried out for five years. In 2017, the digital currency Research Institute of the people's Bank of China was officially established, and has applied for more than 70 patents related to digital currency technology< In recent years, with the development of Internet technology, especially blockchain technology, many so-called "virtual currencies" have emerged in the world, such as bitcoin and Laite currency, which are controversial in recent years. So, how is the digital currency proposed by the central bank different from these commercial "virtual currencies"? The following is an analysis of the patent of Xiaoju

some patents of the digital currency Research Institute of the people's Bank of China (data source: huijuyun)

what is digital currency? --[ Invention patent] digital currency system

cloud computing is the mainstream direction of the future back-end server, and the digital currency back-end system adopts cloud based solutions

in e-commerce activities, e to different roles, the requirements for digital currency are different: customers require digital currency to be easy to use, safe to store and anonymous; Businesses require digital currency to be certifiable and can be converted into real currency; Banks require that digital currency cannot be illegally used or forged. Therefore, digital currency d-rmb should have the following characteristics:

1. Security: it can prevent any party in business from changing or illegally using digital currency< 2. Non repeated spending: digital currency can only be used once, and repeated spending can be easily detected

3. Controllable anonymity: banks and businesses collude with each other and can't track the use of digital currency, which requires that the system can't link the purchase behavior of e-cash users, so as to conceal the purchase history of digital currency users, but the issuer of digital currency can track the use of digital currency

4. Unforgeability: digital currency that users cannot fake

5. Fairness: the payment process is fair, which ensures that either the two parties succeed in the transaction, or both parties have no losses, so as to prevent one of the parties from suffering losses in the transaction

6. Compatibility: the issue process and circulation of digital currency in d-rmb system should refer to the issue and circulation of physical currency as far as possible

as for digital currency, it should be able to adapt to various use scenarios of existing currency and be freely convertible with existing currency

this patent provides a digital currency system, including central bank digital currency system, commercial bank digital currency system, and authentication system

among them, the central bank's digital currency system is used to generate and issue digital currency, and to register the ownership of digital currency; The digital currency system of commercial banks is used to perform banking functions for digital currency; The authentication system is used to provide authentication for the interaction between the central bank digital currency system and the terminal equipment used by the users of the digital currency, and for the interaction between the central bank digital currency system and the commercial bank digital currency system

schematic diagram of the basic structure of the digital currency system

to achieve a convenient and safe digital currency system, and can be applied to a variety of application scenarios of digital currency in reality< How to convert digital currency into cash[ Invention patent] method and system for converting digital currency into physical cash, The digital currency system of the commercial bank sends the digital currency to the central bank digital currency system, the central bank digital currency system generates a one-time withdrawal code, and then sends it to the user terminal equipment for presentation to the user, and changes the owner information of the digital currency from the user to the central bank

the digital currency system of the commercial bank sends the one-time withdrawal code provided by the user to the digital currency system of the central bank. The digital currency system of the central bank confirms that the one-time withdrawal code is valid, and then increases the cash amount of the commercial bank account, and sends a notice to the digital currency system of the commercial bank that the one-time withdrawal code is valid, After receiving the notice, the digital currency system of commercial banks issues a contribution instruction, in which the contribution instruction is used to control the machine or prompt the user to pay the cash whose amount is equal to the cashed amount manually<

schematic diagram of a method of converting digital currency into physical cash

How can digital currency be consumed online? --[ Invention patent] method and system of online payment using digital currency chip card

this patent is a method and system of online payment using digital currency chip card. A method for online payment using digital currency chip card is provided. The method includes: a user terminal device sends payment information to an acceptance terminal device, and the payment information includes digital currency chip card information and digital currency equivalent to the payment amount; After receiving the payment information, the receiving terminal sends the payment information to the digital currency system of the commercial bank; After receiving the payment information, the digital currency system of the commercial bank sends a request to change the owner to the digital currency system of the central bank; The central bank digital currency system changes the owner of the digital currency to the merchant's commercial bank code after receiving the request to change the owner; The digital currency system of commercial banks changes the account amount of merchants<

the method flow chart of online payment with digital currency chip card in recent years, the commercial virtual currency has been controversial, and more and more people realize that the future development trend of digital currency is legal digital currency issued by central banks based on national credit. At present, China is still in the stage of accelerating the research and development of digital currency. For example, the central bank held a working video conference in the second half of 2019 on August 2, calling for "accelerating the pace of research and development of China's legal digital currency". Recently, the "opinions of the CPC Central Committee and the State Council on supporting Shenzhen to build a leading demonstration zone of socialism with Chinese characteristics" clearly stated that "We support the development of innovative applications such as digital currency research and mobile payment in Shenzhen". Let's wait and see when digital currency will meet you.

10. You can go to the branch of ICBC to apply for opening. Or you can search the internal experience wallet in your own mobile bank, or you can open the digital wallet.