Rectification of digital currency

1.

1、 Different definitions:

1. virtual currency:

virtual currency refers to non real currency

digital currency:

digital currency is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy

3. Cryptocurrency:

cryptocurrency is a kind of transaction medium that uses cryptography principles to ensure transaction security and control the creation of transaction units

4. Token (token):

a kind of article whose shape and size are similar to currency, but the scope of use is limited and has no currency effect, and its token is the homonym of token in English

Second, the characteristics are different:

1; It can also be said that virtual currency is personalized currency. In another way, it can also be called information currency

2. Digital currency:

is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of specific virtual communities

Cryptocurrency:

cryptocurrency is based on the decentralized consensus mechanism, which is opposite to the banking and financial system relying on the centralized regulatory system

4. Token (token):

usually needs to be exchanged for money, used in shops, playgrounds, mass transportation and other places, as a voucher to use services and exchange goods

extended data

at present, digital currency is more like an investment proct, because it lacks a strong guarantee agency to maintain its price stability, and its role as a value measure has not yet appeared, so it can not be used as a means of payment. As an investment proct, digital currency cannot develop without trading platform, operating company and investment company

digital currency is a double-edged sword. On the one hand, the blockchain technology it relies on has been decentralized and can be used in other fields except digital currency, which is one of the reasons why bitcoin is popular; On the other hand, if digital currency is widely used by the public as a kind of currency, it will have a huge impact on the effectiveness of monetary policy, financial infrastructure, financial market and financial stability

2. Really? On the morning of August 2, the people's Bank of China held a working video conference for the second half of 2019, proposing to accelerate the pace of research and development of legal digital currency in China in the second half of the year, track and study the development trend of virtual currency at home and abroad, and continue to strengthen the regulation of Internet financial risks
in fact, the country has been studying the field of digital currency, and digital currency and blockchain are the future development trend. As for when to issue, we can only say that when the time comes, it will be issued naturally. We need to ensure the steady operation of the financial economy.

3.

Recently, the people's Bank of China held a national teleconference on money and gold and silver work in 2018. Fan Yifei, vice governor of the people's Bank of China, pointed out at the meeting that this year we should solidly promote the research and development of digital currency of the people's Bank of China, strive to improve the level of cash service, carry out the rectification and clean-up of all kinds of virtual currency, closely communicate and cooperate with relevant departments, and vigorously rectify the chaos in the field of cash circulation

Fan Yifei pointed out that the current work of currency gold and silver is facing new challenges, the traditional business environment has undergone major changes, the development of digital economy, the diversification of means of payment and the change of the public's habit of using banknotes have had a profound impact on the issuance and circulation of RMB, and the public has put forward new and higher requirements for the level of cash service“ The central bank's monetary gold and silver work needs to be continuously deepened in serving the real economy, effectively promoted in improving services for people's livelihood, and comprehensively strengthened in preventing and defusing risks. "

"commercial banks should give full play to the pivotal role of cash delivery and withdrawal, further do a good job in the issuance of ordinary commemorative coins, and effectively improve the public satisfaction; Further strengthen the cash analysis, improve the level of cash management, strengthen the management of large amount of cash, and effectively protect the people's demand for small denomination RMB; We will further strengthen the anti-counterfeiting work, strengthen internal control and management, and constantly improve the ability of employees and cash machines to intercept counterfeit money. " Fan Yifei said

4.

On March 28, the central bank held a national teleconference on monetary gold and silver work in 2018. Fan Yifei, vice governor of the people's Bank of China, pointed out that we should further strengthen reform and innovation and solidly promote the research and development of digital currency of the people's Bank of China. We should strictly strengthen internal management and external supervision, attach great importance to and effectively strengthen the quality control of RMB, carry out large amount cash management, build a cash clearing enterprise supervision system in accordance with the law, carry out the rectification and clean-up of all kinds of virtual currencies, and strive to build a "five in one" anti-counterfeit currency working mechanism

from the perspective of global digital currency regulatory practice, China has adopted a more stringent regulatory approach, but it does not mean that China can stay out of the global financial innovation wave. In the future, China should actively participate in the global governance of digital currency and enhance its influence and voice in the development of digital currency and regulatory rules

5. It's not a mining machine. It depends on where you put it. There are high gold mines. It's all stone

6. With the existence of digital money for so long, it is impossible to generalize with bubbles. But the pattern and bubble of digital money is indeed the cancer and development resistance of the instry. However, after the low ebb of digital currency some time ago, now investors tend to be rational, and the government also carries out strict supervision, which also means that the "air money" and "pyramid selling money" that used to use picture cakes to circle money to cut leeks are almost nonexistent, because the regulatory authorities can't let them pass the audit. After the digital money market is regulated, how can the remaining procts be stable and reliable for a long time? In my opinion, first of all, it depends on whether the team of this proct is technically comprehensive, professional and reliable; Second, it depends on whether the implementation of the project is possible; Third, it depends on whether the platform has various restrictions and whether it is free and fair. HNB, for example, is a reliable proct with the above three features. Its team comes from blockchain elites from all over the world with rich technology and experience; With the economic base linked to the real economy, it is not easy to have currency fluctuations; The platform is free to play and to build a decentralized economy like a community. It is a proct worthy of attention.

7. Virtual digital currency has developed rapidly in recent years, and all walks of life have been affected. Now there are still many new currencies, such as BHT, which seems to be more popular recently.

8. Recently, the state is renovating P2P, which may involve digital currency, because counterfeit currency is very popular in digital currency. The transfer of headquarters from Shenzhen to Hong Kong may be to evade legal sanctions. The legal system of Hong Kong is different from that of the mainland, so many legal risks can be avoided
the Chinese name of DGC is shared currency, which is suspected of false publicity. The total amount of this currency is not constant, and can be increased by splitting it randomly. The source code of this currency is not public, and its transaction is not supported in the mainstream domestic digital money market. This kind of currency may become the target of government attack. But bitcoin, Ruitai coin, Weimeng coin, Laite coin and other traditional digital currencies may also be affected this time, but the impact is small.

9. Because most of the electronic payment is used now, as long as you have a mobile phone, you can easily complete all the daily collection and payment. Many businesses also refuse cash for various reasons, which makes many elderly people and special groups feel anxious and at a loss< p> Due to the repeated environment, many businesses have launched contactless payment, that is, electronic payment, for security reasons, refusing cash payment. This obviously saves a lot of trouble for their settlement. If they don't receive cash, they don't need to count it every day and send it to the bank. Obviously, the merchants have also considered the labor or time cost. Businesses are more convenient, and most consumers can accept it, but for many special groups, when they are refused cash payment, they are at a loss. They do not use smart phones to pay, and many people even use traditional mobile phones

in the era of cash flow, in the daily payment of money, you can skillfully calculate how much you want to pay or how much change you want. In fact, this kind of exercise is also in the brain. When it is completely handed over to digital currency, this kind of basic operation seems to be unnecessary

10. Recently, regulators have further strengthened the supervision of cryptocurrency. A few days ago, the central bank took the lead in holding a forum with many ministries and financial offices in many places to study and deploy the next stage of rectification work of virtual currency "mining" and OTC trading. According to the arrangement of the meeting, we will focus on sorting out and rectifying the OTC trading places or platforms registered in China (including setting the website platform overseas in the form of "going to sea" to continue to provide trading services for domestic users), service providers providing guarantee and clearing for OTC transactions, and institutions or indivials providing market making services for large amount of "point-to-point" transactions online or offline, And block its trading service website and app located abroad. Regulate and rectify bitcoin mines, and guide related enterprises to exit in an orderly manner. In addition, Payment institutions that provide payment services for the above-mentioned OTC transactions will require self inspection and rectification, and shall no longer provide payment services for virtual currency transactions
this joint rectification action focuses on the following four types of online pyramid selling activities: first, online pyramid selling activities under the guise of "consumption rebate", "mutual fund assistance", "virtual currency", "investment and financial management" and "online games"; Second, under the pretext of "charity", "poverty alleviation", "innovation", "equal wealth" and "civil military integration", the online pyramid selling activities deliberately distort the relevant national policies; The third is the network pyramid selling activities that infringe on the students, the minimum living allowance, the disabled and other vulnerable groups; Fourth, the implementation of cross-border manipulation of network pyramid selling activities. At the same time, the core members, backbone members and "professional" participants of online pyramid selling organizations, as well as those who help transfer funds and provide website design and maintenance, shall be seriously investigated and dealt with in accordance with the law
for reference.