Facebook Libra cryptocurrency
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
as you all know, Facebook officially released the Libra white paper in June last year. Libra's value is described as linked to a basket of fiat currencies and other assets. According to two sources familiar with Libra's progress, the Libra association is considering whether it should abandon the proposed "basket of legal currencies + other assets" model and adopt the "pure US dollar" support model instead
Kristin Smith, head of blockchain Association, which promotes blockchain technology, said in a telephone interview: "I think this is a welcome change. The main concern of lawmakers about Libra is that Libra may weaken the status of the US dollar, so if Libra really turns to be supported only by the US dollar, a lot of worries can be solved. "
If Libra turns into a stable currency supported only by US dollars, in Xiaobian's view, it will really benefit him a lot in the way of issuing currency. If we don't make changes, Libra will go even harder.
Digital currency can be understood as the digitalization of RMB, which has two obvious advantages: "no account payment" and "no network payment". After Facebook launched Libra this year, the central bank's digital currency has also stepped in. We see both challenges and opportunities
in a word, digital currency is still RMB in fact, but some changes have taken place in its form. We say that digital currency is of great significance. It not only enhances the security and controllability, but also makes counterfeit currency "invisible". In addition, the issuance of the central bank's digital currency is also concive to the central bank's more convenient and transparent management
Digital currency is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of a specific virtual community. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form
in recent years, the excessive issuance of banknotes has led to the aggravation of inflation, the frequent security crisis of third-party payment, and the graal maturity of blockchain technology, so decentralized digital currencies such as bitcoin, Ethereum and reborn have emerged. Digital currency has the advantages of low transaction cost, fast transaction speed, high anonymity and fixed amount of money
At the same time, the use scenarios of digital currency become more and more abundant, which makes the user acceptance grow. At present, the use of digital currency has covered all kinds of scenes, such as shopping consumption, wage payment, transportation, travel, takeout settlement and tuition payment. The expanding landing scene has also brought a wider range of consumers. In general, although the number of users of digital currency still accounts for a small proportion of the total population, the number of users is growing. At present, the utilization rate of digital currency has exceeded 10% in 10 countries around the world In June 2019, Facebook launched Libra virtual cryptocurrency, which has caused worldwide influence. The emergence of Libra may form a global super sovereign currency, thus affecting the traditional transaction settlement currency. For China, the emergence of Libra, on the one hand, will have an impact on China's traditional currency and threaten the sovereign status of China's currency; On the other hand, because RMB is not included in Libra's basket of currencies, it will rece the reserve demand of RMB by central banks, thus hindering the internationalization of RMB. In response to this threat, CCTV timely launched the central bank digital currency. In September 2019, according to China Daily, the central bank's digital currency closed-loop test has begun, and the central bank's digital currency is about to come outcoincidentally, in addition to China, central banks around the world have also announced that they will launch a centralized digital currency based on national credit. In 2015, Ecuador took the lead in launching the national version of digital currency, which can not only rece the issuance cost and increase the convenience, but also enable people in remote areas who cannot have banking resources to obtain financial services through the digital platform. At present, Canada, Brazil, Norway, the United Kingdom and other countries are studying the central bank legal digital currency, while the Bahamas, Sweden, Russia and other countries are discussing the possibility of digital currency issuance. Generally speaking, the developing countries which have received a great impact on digital currency have supported legal digital currency for financial inclusion, breaking through sanctions and other reasons
for the above data and analysis, please refer to the in depth analysis report on business model innovation and investment opportunities of China's blockchain instry published by foresight Instry Research Institute . Meanwhile, foresight Instry Research Institute also provides instrial big data, instrial planning, instrial declaration, instrial park planning, instrial investment promotion and other solutions
digital currency emerges as the times require and is widely welcomed
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. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form
in recent years, the excessive issuance of banknotes has led to the aggravation of inflation, the frequent security crisis of third-party payment, and the graal maturity of blockchain technology, so decentralized digital currencies such as bitcoin, Ethereum and reborn have emerged. Digital currency has the advantages of low transaction cost, fast transaction speed, high anonymity and fixed amount of money
analysis of characteristics and advantages of digital currency
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data source: the above data and analysis are published in the in depth analysis report on business model innovation and investment opportunities of China's blockchain instry issued by the Institute of prospective instry
Bitcoin was born on January 3, 2009, which has a history of 10 years. The value of bitcoin has soared from zero to US $19850, the highest point in 2017. And most people have been concerned about cryptocurrency and bitcoin since then. Before that, most people would think that bitcoin was just an "internet currency", similar to q-coin
but after the sharp rise of bitcoin in 2017, more and more people began to pay attention to cryptocurrency, understand cryptocurrency, invest in cryptocurrency, and long for cryptocurrency to bring rich economic returns. However, after several in-depth studies, bitcoin is the only cryptocurrency with value and significance. The reasons are as follows:
the total supply of bitcoin is constant. As time goes on, bitcoin will become more and more rare and become a very good means of value storage, similar to gold. In the past 10 years, this function of bitcoin has become a consensus
bitcoin is the leader in cryptocurrency, which is an absolute consensus in this instry. Looking back over the past few years, among the top ten cryptocurrencies in terms of market value, only bitcoin has always been the first, and the remaining counterfeit currencies are all in the past
library is a cryptocurrency issued by Facebook
this new currency Libra has to compete with Alipay and WeChat, which is impossible to win. p> Moreover, since the release of this libea, it has been questioned by the outside world that it may become a money laundering tool. The U.S. has repeatedly held hearings to ask them to stop issuing the currency, but Facebook has refused to do so
however, in China, we do not use the software Facebook, so whether it has some new means does not have much to do with us
for example, blockchain can be applied to P2P, bills, securities and other financial fields, as well as contracts. Of course, it can also protect intellectual property rights, such as distributed content publishing platform decent
an exchange named rosex was set up in the name of the people's Bank of China
according to the report of the securities times, recently, some institutions pretended to be the people's Bank of China, and branded their digital currency as "DC / EP" or "DCEP" for trading on the platform. Several erc20 tokens called DCEP suddenly appeared on Ethereum, and even a weird DCEP payment interface website, which seems quite suspicious
in view of this, the central bank immediately dismissed the rumors yesterday, stating that legal digital currency has not yet been issued
the central bank clarified that there was no issue of DCEP, which was intercepted from the microblog of chinanews.com
even though the central bank claims that DCEP has been studied for a long time and is likely to be the first national organization in the world to launch digital currency, so far, people still can't see the detailed launch time and process. Only a few central bank officials have explained several key points at various conferences, and even there is no white paper
it's no wonder that some outlaws will take advantage of the DCEP fire to set up scams to deceive the ignorant people The daily economic news also warned that because the blockchain technology is still in the exploratory stage, many applications are being developed, and this kind of new technology with "cutting-edge concept" is easy to be used as a gimmick by interested people
in the currency circle, you can often hear the news of money disk and MLM money running away, and this kind of behavior is usually difficult to safeguard rights. Many weird blockchain projects memorize the distributed storage, encryption algorithm and consensus mechanism thoroughly. However, when you actually read the white paper, you find that he may be ing the works of bitcoin, Ethereum and other predecessors, There are not many projects that can really solve the problem. You can hardly even see their money on the mainstream exchanges
since the release of Libra white paper by Facebook, many countries and instrial giants have suddenly paid attention to digital currency, and many regulatory policies have been introced one after another, even the domestic policy of accelerating the development of legal digital currency. As one of the "most practical" applications of blockchain in the past decade, what changes will digital currency bring to the world's monetary system
digital currency may enter the era of the Three Kingdoms
according to coindesk, Jeremy Allaire, CEO of circle, a blockchain start-up company, said that e to the rapid development of blockchain and smart contracts, a new economic system has emerged. For example, Ethereum, with network protocols such as TCP / IP and HTTP, allows legal tender or token to be issued above. In terms of the existing form of issuing currency, the future digital currency will enter the "Three Kingdoms era":
1. Open finance is the original ecosystem of encryption. For example, companies such as circle and coinbase have issued usdcoin (usdc) based on US dollar reserves on the public chain. By using open finance, enterprises and developers can build an advanced financial structure, In order to better lead the payment and bond markets, but also subject to strict government regulation. At the same time, the open financial instry is faced with the big question of blockchain. How can it have strong anonymity and privacy while maintaining openness and transparency
2. National digital currency: this kind of digital currency is quite popular in the near future, especially after China plans to launch DCEP, many countries are also thinking about whether to follow up. However, when more and more countries are involved in the field of digital currency, does this mean that financial innovation will be strictly controlled? Can China give fair conditions for foreign enterprises or institutions to use DCEP for transactions
3. Private digital currency: a typical example is Facebook's Libra or JP Morgan's jpcoin. However, the concept of Libra is more cutting-edge because it tries to put all the world's legal currencies into a basket and create a global digital currency. However, this is a great challenge for developers. It is very difficult to be open and restricted for countries to visit. From the current situation, national regulators also try their best to block the issuance of Libra, and believe that it may threaten national currency sovereignty