Red weekly website digital currency
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
it is certain that the digital currency issued by the central bank can never be the same as bitcoin, Ruitai, Qianjin card and other digital currencies. The digital currency issued by the central bank is just the digital currency.
The Internet of things in China refers to a network concept in which information sensing devices such as GPS, laser scanners, etc. connect any item with the Internet according to the agreed protocol for information exchange and communication, so as to realize intelligent identification, positioning, tracking, monitoring and management. The rudiment of the Internet of things is just like the early form of the Internet, local area network, which shows a great prospect
digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy. Digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold
risk
digital gold currency is a form of physical currency, whose deposits are measured in gold rather than legal currency. Therefore, the purchasing power fluctuation of digital gold currency is related to the gold price. If the price of gold goes up, it becomes more valuable. If the price of gold goes down, it loses value
since there is no specific financial regulation to regulate digital gold money suppliers, they operate in a self-regulation way. Digital gold money suppliers are not banks, so banking regulations are not applicable. However, the global digital currency Association, founded in 2002, is a non-profit association of online currency operators, convertors, merchants and users. This association supervises the users' reports and ratings the reputation of the convertor. The rating operation is confirmed by the users' reports
criticism
digital gold money suppliers and changers have been accused of being intermediaries of fraulent hyip schemes. In January 2006, business week reported that shadowcrew used the e-gold system, involving a large number of online groups whose identity information was stolen. However, the chairman of e-gold claimed that he would not compromise on any criminal activities using e-gold
Blockchain is a new technology, not a disguised form of MLM. It is just claimed by many MLM organizations as "blockchain". In fact, there is no technology. It's just a practice of MLM under the name of "blockchain". The state has issued several announcements to crack down on this kind of MLM. The following is the Xinhua news report on MLM of blockchain:
blockchain is not equal to virtual currency, but also has security risks. Behind the popularity, there is exaggeration with "ulterior motives". Only by removing the flashiness, can the blockchain return to its real application value
invest 80000 yuan, change to 800000 yuan after three months? Shenzhen police cracked a huge fund-raising fraud. Under the guise of blockchain concept and 10 times income, thousands of investors were deeply involved in the case, involving up to 307 million yuan. Under the "veil of mystery" of the blockchain, the illegal elements have taken advantage of their own tricks, and the blockchain has become a "signboard" of economic crimes such as fraud and pyramid selling
why is the blockchain repeatedly "misused" by illegal activities such as pyramid selling fraud? In addition to "unknown", what is the "function" of blockchain technology itself? Since the beginning of this year, with the increase of supervision and the cooling of currency speculation, new opportunities have been brought to the development of blockchain. How about the implementation of blockchain commercial "application" The reporter of outlook news weekly recently concted an investigation
when the three-month "capital release period" promised by the trading platform expired and the staff began to "kick" in the QQ group, Tang Haiyan, who lives in Bao'an District of Shenzhen City, realized that she might have been cheated
previously, Tang Haiyan invested 80000 yuan to buy a virtual currency called "ordinary silver coin" under the introction of her classmates“ The other side said that this currency is the most advanced blockchain technology at present, with Tibetan tea as collateral. He also showed me the "technical white paper". I didn't understand blockchain, so I didn't read it carefully. "
although she doesn't know about blockchain and virtual currency, the high investment income makes Tang Haiyan full of expectations. She told reporters that companies issuing "ordinary silver coins" will regularly split the virtual currency according to the ratio of 1:10, which means that each split will make the value of "ordinary silver coins" in the hands of investors expand 10 times. As long as after a split, her investment of 80000 yuan is equivalent to the purchase of 800000 yuan worth of "ordinary silver coins", which can be sold on the trading platform to obtain huge profits
according to the rules of the trading platform, the newly purchased "ordinary silver coin" cannot be traded immediately, and it must be frozen on the platform for three months before it can enter the "release period". However, after three months, not only did Tang Haiyan not wait for the assets to double, but the 80000 yuan frozen on the platform could not be used for trading
"other investors began to question the authenticity of this investment in QQ group. As a result, the staff of the company kicked these investors out one by one, which made me feel bad." She said
The fact also proves Tang HaiYan's intuition. At the end of March 2018, Shenzhen police detected a huge fund-raising fraud, with the amount of fraud funds as high as 307 million yuan. In this case, Shenzhen Puyin blockchain Group Co., Ltd. involved in the case issued virtual currency in the mode of "blockchain + Tibetan tea" to obtain public deposits. Tang Haiyan was one of the thousands of victimsShenzhen police investigation found that the company claimed that investors could buy and sell "ordinary silver coins" on the virtual trading platform "jucoin net" to earn a price difference
. In fact, the change of its trading price is that the company used investors' investment funds for behind the scenes operation, and once raised the price of "ordinary silver coin" from 0.5 yuan to 10 yuan, so that investors can taste some sweetness. When a large number of investors entered the market, the company continued to cash out through malicious manipulation of the price trend of "ordinary silver coin", which eventually led to the worthlessness of "ordinary silver coin" in the hands of investors
since 2018, engaging in fraud and pyramid selling under the banner of blockchain has become a common "routine" in new criminal tactics. In April 2018, Jinan police dropped a pyramid selling Gang under the guise of "western development", "national poverty alleviation", "original stocks", "blockchain" and "e-commerce", arrested more than 10 major suspects, frozen more than 100 accounts involved, and seized more than 300 million yuan of funds involved
according to Jinan police, huileyi e-commerce company designed a fake virtual disk on the Internet on the ground that the country is vigorously developing the big data instry, and released a variety of virtual currencies such as "precious currency" and "precious currency"
under the guise of giving away, they presented a certain amount of virtual currency to the New MLM staff, with the price of tens of yuan each. Then, through artificial manipulation, they appreciated the virtual currency all the way to more than 100 yuan or even hundreds of yuan, attracting people who did not know the truth to join. Finally, they "cut leeks" through the periodic fluctuation of the so-called "devaluation" of virtual currency, Finally, the purpose of seeking illegal interests is achieved
in Xi'an, a few days ago, the local police successfully cracked a huge network pyramid selling case under the banner of blockchain. According to the police, the suspect, Zheng Mou, has paid a high salary to the 9 network members, such as Zhang and Lee. Since March 28, 2018, he has gathered pyramid selling and network pyramid selling as a means to sell the virtual Datang coins at the consumption era network platform at the price of 3 yuan each, and manipulate the appreciation rate; p>
at the same time, promotion meetings were held in many cities at home and abroad to attract members. According to the development of members, 28 level agents were set up. In just 18 days, the gang developed more than 13000 registered members. At present, it has been found that the case involves 31 provinces, cities and autonomous regions in China, and the fund involved is as high as 86 million yuan
according to Tencent's 2017 pyramid selling situation awareness white paper released by Tencent security joint laboratory, in recent years, all kinds of overseas capital disk, virtual currency and ICO (initial public offering token financing of blockchain project) projects have emerged in an endless stream, which hide many risks such as illegal issuance, untrue projects, cross-border money laundering, fraud and pyramid selling, As a result, a large number of funds flow overseas. Once the market collapses, runs away or loses contact, investors often have no way to complain and the losses are difficult to recover. For example, Baichuan coin, mark coin, beta coin, dark coin, etc
the reporter of lookout Newsweek interviewed in Guangdong, Shandong, Shanghai and other places and learned that most people know that the concept of blockchain is very popular, but they "don't know where it is", and there are different opinions on the specific functions of blockchain: some people think it is used for "investment and financing", "buying and selling currency", while others think it is "a major invention of the same magnitude as the steam engine", Some entrepreneurs are even more eager to seize this "once-in-a-lifetime opportunity to get rich."
many people in the instry said that it is precisely because people have many misunderstandings about blockchain that criminals have opportunities to fish in troubled waters and mislead investors
First, blockchain is not equal to virtual currency. By the end of last year, the number of domestic ICO participants and the total volume of transactions have doubled, a large number of digital currency exchanges have fled overseas, and the agent investment mode has involved more ordinary people in high-risk investmentin many instries, we media and celebrities form interest alliances with issuers and digital exchanges to endorse and create public opinion for the "air currency" project. In December last year, nine departments including the people's Bank of China identified ICO as "suspected of illegal fund-raising, financial fraud, pyramid selling and other illegal and criminal activities"
in the interview, many people told our reporter that the existence of token has built a set of rights and interests mechanism for the development of blockchain technology, which is indispensable for stimulating the prosperity of blockchain applications“ The market practice in the past five years has proved that blockchain applications without equity mechanism are just like market economy without computers connected to the Internet and money, with greatly reced application scenarios and development speed. " An investor in Shanghai said
in fact, the token represented by bitcoin is only one of the earliest procts to verify the blockchain technology, and the two can not be equated, and the existence of token has obviously negative effects on the development of blockchain
Xiao Wei, chief engineer of network blockchain, told this reporter that the myth of ICO's sudden wealth shakes the R & D concentration of blockchain technical talents, and the myth of "sudden wealth" with hundreds of times of return tests the patience of blockchain technical R & D talents“ Many of the "comrades in arms" in the circle who used to do research and development of blockchain technology have gone to issue coins, and now few of them can insist on doing research and development and application of technology. "
Xu zewei, Secretary of the Party committee of Beijing Internet Finance Instry Association, said that under the background of China's ban on ICO, many domestic start-ups promoting blockchain applications are "selling dog meat with sheep's pawn" and financing through concept packaging of worthless tokens“ ICO has polluted the good atmosphere of innovation and entrepreneurship, and created a kind of speculative proct. Many young people are not thinking about entrepreneurship, but are thinking about issuing money, which makes us have the illusion of getting rich overnight. "
at present, more and more people in the instry begin to think about whether the development of blockchain must rely on the issuance of tokens to achieve incentives. Guo Dagang, Secretary General of Beijing Internet Finance Instry Association, told this reporter that the so-called incentive mechanism is only the theoretical basis for the project party to issue tokens for itself. Huo Xuewen, director of Beijing Municipal Bureau of financial work, also believes that if blockchain does not get rid of the dilemma of issuing currency, it will never find a legal landing mechanism
secondly, blockchain is not omnipotent and its security is at risk. Blockchain is generally considered to achieve three functions:
first, the data stored on the blockchain can not be tampered or forged, and the data has high credibility and credibility; Second, the whole process of the transaction can be traced, which can achieve accurate responsibility tracking; Third, the embedded smart contract in the blockchain can be executed automatically based on the contract, so as to improve work efficiency and rece the risk of default. It is generally believed that blockchain has broad application prospects in finance, logistics, trade and other fields
in fact, blockchain is not omnipotent, and its function has many limitations. It is generally believed that, according to the characteristics of cryptography, in order to tamper or falsify in the blockchain, more than 51% of the nodes need to be controlled in theory. When there are enough nodes in the blockchain, it is difficult to tamper with the trust creation mechanism widely participated by the public
However, in reality, digital currency exchanges are frequently attacked or even stolen. On June 20, 2018, bithumb exchange of South Korea announced on its official website that the exchange had been attacked by hackers and stolen 35 billion won, about 32 million US dollars of cryptocurrency Ji Xinhua, known as the first generation of "hackers" in China, said that the blockchain will continue to face attacks, and the process of uploading data to the blockchain is prone to information leakage. Some people in the instry worry that once the super computing power of quantum computing is realized, it will also have a direct impact on the blockchainZhao Yao, a special researcher of the Institute of finance of the Chinese Academy of Social Sciences, told this reporter that the academic community has confirmed as early as 2013 that the blockchain is not perfect and there are many "cheating" strategies. As long as there are enough economic incentives, controlling attacks of more than 51% nodes does not only exist in theory
Zeng Guang, Secretary General of Shenzhen Internet Finance Association, said that the blockchain technology itself does not have the ability to do so
1. Goldman Sachs (in order of ranking)
the earliest professional investment bank in the world, founded by Mr. Goldman Sachs in 1861<
Goldman Sachs is famous for its strong corporate culture. In the history of more than 100 years, it has always adhered to the main body strategy of investment banks, rarely involved in commercial banks, retail brokerage and other fields (but not completely not involved), and is the first investment bank on Wall Street
extended data:
investment banks are a kind of financial institutions corresponding to commercial banks. They are non bank financial institutions mainly engaged in securities issuance, underwriting, trading, enterprise restructuring, merger and acquisition, investment analysis, venture capital, project financing and other businesses. They are the main financial intermediaries in the capital market
investment bank is the name of the United States and the European continent, the United Kingdom is called merchant bank, and in Japan, it refers to securities companies
There are four main organizational forms of investment banks:one is independent professional investment banks, which have many institutions all over the world, and they have their own business directions, such as Goldman Sachs and Morgan Stanley in the United States
Second, investment banks owned by commercial banks, mainly through mergers and acquisitions of other investment banks, equity participation or the establishment of subsidiaries to engage in investment banking business, which is very typical in Britain and Germany, such as HSBC Group and UBS group Third, all-round banks directly operate investment banking business, which mainly appears in Europe. Banks are engaged in investment banking business as well as commercial banking business, such as Deutsche Bank Fourthly, financial companies set up by some large multinational companies. In China, the main representatives of investment banks are: China International Finance Co., Ltd., CITIC Securities, etcreference: investment banking network
everything in Cambodia is calculated in US dollars, such as calling a "Tutu car" on the street, doing a massage in a small shop on the street, and buying a snack at a stall. These basic services are calculated in US dollars. Even in regular supermarkets, the only price of goods is US dollars. Only in the face of less than $1 change, the store will give the local currency according to the constant exchange rate of 1:4000 Riel. Local currency only plays the role of secondary currency here. If ordinary tourists don't patronize the vendors, they can't even see the local currency
in the past, many Asian countries tended to dollarize, such as Laos, Vietnam and Mongolia. However, from the data, with the economic development of these countries, the trend of dollarization is graally returning to the normal direction, that is, the proportion of US dollars is decreasing, at least stable at a certain level, and the local currency is becoming more important. With the economic development of Cambodia in the past decade, the trend of economic dollarization has been further strengthened
dollarization in Cambodia is not a matter of a day or two. Local currency Riel has been issued since the 1950s. During the reign of Khmer Rouge in the 1970s, the currency of Cambodia was abolished and returned to the primitive era of barter. With Vietnam's involvement in the civil war and the reconstruction of Cambodian political and social order, the economy began to dollarize graally. Although Riel was later restored to use, but the degree of dollarization of the economy has been very high, irreversible. Cambodia's politics has graally stabilized, the dollarization process has further accelerated, and now its role in the economy has far surpassed that of Riel
there are two explanations for this phenomenon. The first is the classic "currency substitution" theory. According to this theory, which kind of currency people use depends entirely on their views on its future development. It is impossible to switch to foreign currency transactions on a large scale unless a country completely loses confidence in its currency because of inflation and thinks that its government has no ability to control its currency
however, in the process of currency substitution and monetary system transformation, there is inevitably a time lag. There are a series of hot topics in Keynesian economics, such as menu cost, investment rigidity and so on. Economists have made a wealth of mathematical models to explain such problems. It is precisely because of the friction and resistance of institutional change that Cambodia's efforts to de dollarization have not improved. However, the new Keynesian economic model seems not easy to explain the increasing trend of dollarization in Cambodia
another economic explanation is more intuitive. Cambodia is now facing a serious urban-rural al economy. The urban economy is based on US dollars, and the rural economy is based on Riel. The gap between urban and rural areas is very obvious. From the perspective of structure, Cambodia's agricultural output value is only about 10% of GDP, more than 20% of service instry represented by tourism, and more than 60% of instry dominated by clothing. There is only agriculture in rural Cambodia, and the scale is poor; Cities are mainly service instry and instry. Whether export-oriented garment processing instry, attracting international tourists, or receiving international aid and foreign direct investment, these economic activities are settled in US dollars. Even if we study the real estate of core cities such as Phnom Penh, we can find that a considerable proportion of its real estate is controlled by foreign capital. Under such circumstances, even if the Cambodian government wants to implement Riel and de dollarization, it is almost impossible
from this problem, we can see some economic characteristics of Cambodia. First, it is highly dependent on foreign economies; Second, it has a poor and weak government which lacks pursuit; Third, economic activities are highly monopolized and society is seriously unfair
some examples can be cited to further illustrate the characteristics of Cambodian people's life. There is no train line in Cambodia, and there is no bus in the city; For another example, Cambodia's infrastructure is very backward, urban blackouts are common, and a considerable proportion of farmers have not even had access to electricity; Every rainy season, Cambodia, a country affected by the monsoon, will suffer huge losses e to flooding. Most places have no pipelines. Once there is a rainstorm, the whole city is often flooded; The Cambodian government has not set a threshold for ecation, the ecation level of hundreds of universities across the country is very problematic, and students can not find jobs after graation. All these social problems are difficult to solve in the current economic structure.