Bank of communications can use digital currency
digital currency is a general term used to describe all forms of electronic currency, whether it is virtual currency or cryptocurrency. It is a form of data expression of value. Through data transaction, it plays the functions of transaction medium, accounting unit and value storage, but it is not the legal currency of any country or region
the concept of digital currency was first put forward in 1983. They only exist in digital or electronic form. Different from the actual paper money or coins, they are invisible. They can only be owned and used on the Internet through e-wallet or designated network. The advantage of digital currency is that there is no bank, the transaction is instant, and the transaction cost is very low. So: coin, token and virtual currency belong to digital currency
the main characteristics of digital currency
1. In terms of payment and settlement, it does not rely on institutions. It is a publicly accessible digital general ledger maintained by the whole distributed network, which is called "blockchain"
2. In terms of issuance and proction, the essence is to keep accounts on a mutually verified public accounting system. Under a certain algorithm mode, find out a string of random codes that meet the conditions, and then package this string of codes with other transaction information into a block and record them in this account book, so as to obtain a certain amount of digital currency
(3) it has no national boundaries, which makes it flow around the world. Virtual world corresponds to the real world, through the exchange relationship between digital currency and traditional currency, under certain conditions, specific digital currency can buy physical goods, and traditional currency can also buy specific virtual goods In theory, its distributed general ledger system can prevent any participant from forging digital currency and rece transaction risk The lower transaction cost of digital currency will promote banks and other financial institutions to improve service level and rece transaction costs Digital currency and mobile financial business model can promote the development of Inclusive Financegenerally speaking, the most important thing to ensure the value of money is credit. The central bank's digital currency is the currency endorsed by China's state, which is only different from paper currency in form, and does not involve commercial banks at present
while other types of "digital currency" do not have any credit endorsement, anyone can "issue digital currency" as long as they have certain technology
internally, the difference between the central bank's digital currency and the use of traditional currency is that the carrier of currency is different, and other attributes are completely the same
for foreigners, it is concive to increasing the settlement share of RMB in international trade and protecting the safety of overseas assets
1. The total amount of money has increased, and the participating banks are more than
in the previous Shenzhen pilot project, 50000 red envelopes with a total amount of 10 million were distributed, while in this Suzhou pilot project, the amount of a single red envelope is still 200 million. In the previous Shenzhen pilot, only the Shenzhen Branch of the four major banks of ICBC was involved. In this Suzhou pilot, on the basis of the four major banks, Bank of communications and postal savings bank were added
2. Online consumption is allowed
the previous Shenzhen pilot digital RMB red packets can only be used by offline designated merchants in Luohu District, Shenzhen, while the Suzhou pilot digital RMB red packets can be used by offline merchants as well as online consumption in Jingdong Mall
Electronic cash is actually a technology that simulates cash in electronic form. The e-cash system attempts to replicate the characteristics of cash for online transactions in many ways: convenience, low cost (or no transaction cost). Anonymity and other properties. But not all E-cash systems meet these characteristics. Most E-cash systems can provide fast and convenient for small online transactions
it can be regarded as the electronic or digital simulation of real money. E-cash exists in the form of digital information and circulates through the Internet. But it is more convenient and economical than real money. Its simplest form includes three main bodies: business, user and bank; And four security protocol processes: initialization protocol, withdrawal protocol, payment protocol, deposit protocol
extended data:
can not be used repeatedly, e-cash can only be used once, and repeated expenses can be easily detected. In its life cycle, e-cash has to go through three processes: withdrawal, payment and deposit, involving users, businesses and banks
the security of e-cash can not be guaranteed only by physical security, but also by various cryptographic techniques used by e-cash itself
e-cash can not only be used as a whole, but also be divided into smaller parts for multiple use. As long as the sum of the denominations of each part is equal to the original e-cash, any amount of payment can be made
if you want change, you'd better go to the counter of Bank of communications as far as possible. Other banks' cash withdrawal belongs to inter-bank cash withdrawal, and there will be handling charges;
it's not OK to withdraw money from the bank's counter. In addition to the Bank of communications, there may be a small number of banks that can implement the counter through processing. For details, you need to consult the local bank of communications.