Digital currency M0
Digital RMB, issued by the people's Bank of China, is a controllable anonymous payment tool with value characteristics and legal compensation, which is operated by designated operating institutions and exchanged with the public. It is based on the generalized account system, supports the loose coupling function of bank accounts, and is equivalent to banknotes and coins
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The digital RMB red envelope of 10 million yuan issued by Shenzhen city has brought the development of e-money back to the people's vision
in fact, since April 2020, small-scale pilot projects of digital RMB have been carried out in Shenzhen, Cheng, Suzhou and xiong'an, and the pilot scale will be expanded to 28 provinces and cities in August 2020
as a socially recognized "super outlet", in addition to the high investment of digital currency related enterprises, its impact on the financial market is also of great research value
Policy evolution of the development of digital RMBas early as 2014, the central bank has concted research layout on digital RMB, and discussed the development framework of digital RMB with major international financial institutions and research institutions in the 2016 digital currency seminar
after six years of development, China has initially developed the "pbctfp blockchain platform" and continuously promoted the pilot activities of digital RMB. It can be predicted that as today's technology and policy outlet, digital RMB will have excellent development prospects and extremely fast development speed in the next few years
Figure 1: Policy Evolution of digital RMB
with the improvement of China's national strength, digital RMB provides an opportunity to establish a "new system of RMB cross border settlement", which can promote RMB payment activities around the world and realize the internationalization of RMB
Yang Xu, senior solution architect of Alibaba cloud, is the chief architect of the world's largest hybrid cloud. Four years ago, he began to be the technical director of double 11 Alibaba cloud, responsible for building the world's largest hybrid cloud structure, and implementing the "double 11" e-commerce business and technology scenarios on alicloud, And ensure that the hybrid cloud can meet the shopping needs of global customers on the day of double 11<
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recently, everyone is talking about microservices. As more and more online businesses need to provide more concurrent scale-up and scale out capabilities, microservices do provide better distributed service solutions
microservices are no stranger. It's easy to understand microservices when you know SOA. You can regard microservices as SOA without ESB. ESB is the bus in SOA enterprise service architecture, while micro service is a decentralized distributed software architecture. I think the biggest difference lies in the original design intention:
SOA is to maximize the reusability of complex system code
while micro service is to maximize decoupling, Different business systems can even be the communication between different languages
there is no optimal architecture, only the most appropriate architecture. All the system design principles should take solving business problems as the ultimate goal, and the technical sentiment architecture divorced from the actual business will often bring a big hole to the system. The premise of all problems is to find out how much business we are facing today and what the growth trend is. Moreover, the process of solving high concurrency must be a graal process< The whole system evolution is divided into three stages:
x-axis, horizontal expansion stage. The application server is continuously expanded horizontally through load balancing server. The most important problem of horizontal expansion is to pay attention to how to keep session and session synchronization between servers, Users can't be aware when switching between different servers. The bottleneck of DB is the number of connections, IOPs and so on
the z-axis is to split the database, and the difficulty has reached a higher level. Sharding's basic idea is to divide a database into horizontal segmentation and vertical segmentation. Horizontal segmentation is relatively simple, one master and many followers, and many masters can do it. According to the needs of business, we need to pay attention to the relationship between primary keys when designing multi master segmentation, To solve the first mock exam problem, the vertical resolution is more complex. It usually involves the transformation of the logic of the architecture. It needs to introce middleware to manage the data source. When the vertical resolution is split, the tables close to each other (such as the same mole) can be split on a library or split by hash. Thus, the original database is divided into a queue which can be expanded infinitely like a matrix
Y-axis extension, and finally function decomposition, which is what we call microservice segmentation. Microservice splitting divides giant applications into groups of different services according to their functional moles. Taobao's system also experienced this process in those years. Through the wucaishi project, we split the single war package into today's buyer, seller center, trading system, etc
two or three things you need to know before introcing microservices:
1. As the cost increases, the introction of microservice architecture needs to split the original single system. After 1 to 100, the deployment of multiple services will increase the cost
2. Solving the consistency problem of distributed transactions
in the past, a single system has many advantages, and one SQL solves all the business logic, Microservices need to involve multiple system calls to complete a task. The uncertainty of the network between systems brings a lot of uncertainty to the result. For example, today's Taobao system needs to call hundreds of systems to complete a transaction order. How to ensure the reliability of the system and the final consistency of core data such as money is something we need to understand at the beginning of design, Most of them are implemented with the help of middleware
3. The logic design principle of microservices
with the continuous splitting of microservices and the iterative development of business, chaotic calls are likely to occur between systems, so the top-level design of microservices is particularly important, and architects need to understand the architecture model of microservices. The core design idea is how to layer services and reuse services. Services are distributed by layers. The upper services are packaged by the lower services. The lower services are responsible for atomic operations. The upper services are responsible for the business composition and arrangement of the lower services. We must understand the business. Micro service splitting is not a simple system composition, Once again, we must understand the business, otherwise there will be a lot of cross calls in the upper services, and the system complexity will rise exponentially. A good microservice architect must be a business architect. Based on the business strategy, microservice design trilogy, Follow the bottom-up design principle:
atomic service
first confirm the most basic business and the most dimensional atomic service. Atomic service definition is the function that everyone will maximize reuse. It needs closed-loop operation in the application. There is no branching logic across other services. It eliminates the call to other services and has its own independent data storage, As the lowest level service abstract existence, take Taobao as an example, seller data, seller data and order data belong to the most basic atomic service
service composition
in a business scenario, a function needs to span multiple atomic services to complete an action. Composition service is to abstract business logic into independent domains. Domains need to be isolated. Service composition will use multiple atomic services to complete business logic. For example, Taobao trading platform will call user, commodity, inventory and other systems
business choreography
the outermost layer is the user oriented business process. A proctized business process needs to logically choreograph the composite service to complete the final business result. The choreography service can be completely automated, and the specific SOP definition can be completed through the workflow engine, It is also significant to improve the automation process of enterprise application. For example, Taobao's "double 11" campaign realizes the logic of marketing activities by reusing the service composition
4. The complexity of operation and maintenance management is improved
microservices increase the number of applications, and link integration, testing, and deployment become new challenges. The problem solved by the previous war package needs to be completed through multi application publishing. The dependency between services at the time of publishing will lead to the unavailability of functions, and the dependency at the testing stage may make the use cases unable to run, These will be new issues to be considered and supported by platform tools. At present, Ali uses aone procts to ensure continuous integrated delivery from daily delivery to pre delivery to online delivery.
this model does not change the relationship between creditor's rights and debt of currency in circulation, the existing money supply system and al account structure, will not constitute a competition for commercial banks' deposit currency, will not increase the dependence of commercial banks on the inter-bank lending market, will not affect the lending ability of commercial banks, and will not lead to the phenomenon of "financial disintermediation". At the same time, because it does not affect the existing monetary policy transmission mechanism, it will not strengthen the pro cyclical effect under the pressure environment, and it can improve the convenience and security of payment, and it also has the credit advantage of central bank endorsement<
practical significance:
the digitalization of central bank's currency helps to optimize the central bank's monetary payment function and improve the central bank's monetary status and the effectiveness of monetary policy. The central bank's digital currency can become an interest bearing asset to meet the holder's reserve demand for safe assets, and can also become the lower limit of bank deposit interest rate. It can also become a new monetary policy tool. At the same time, the central bank can affect the bank's deposit and loan interest rate by adjusting the central bank's digital currency interest rate, and help break the zero interest rate lower limit
for reference.
Digital RMB is issued by the people's Bank of China. It is legal tender in digital form, with value characteristics and legal compensation. Digital RMB is equivalent to banknotes and coins. Digital RMB can buy everything banknotes can buy; Paper money can be exchanged for foreign currency, digital RMB can also be exchanged
RMB includes physical form and digital form, which provides legal basis for China to issue digital currency. It is illegal to issue digital tokens in China -- no unit or indivial is allowed to make or sell token tickets or digital tokens to replace RMB in the market
expansion data:
digital RMB and WeChat payment, Alipay and other payment tools:
Mu Changchun, director of the digital Monetary Research Institute of the Chinese people's Bank of China, explains that WeChat payment and Alipay are financial infrastructure and "purse"; Digital RMB is a payment tool and the content of "wallet". After the issuance of the digital renminbi, you can still use WeChat payment and Alipay payment, but only the contents of the "wallet" have increased the central bank's currency. p>
after the introction of digital RMB, its exchange will be free. The people's Bank of China (PBOC) establishes a free value transfer system and financial infrastructure of digital RMB, and does not charge circulation fees from the issuing layer. Commercial banks also do not charge customers service fees for the exchange and return of digital RMB
money circulation, currency; The amount of money in circulation
the English spelling of "m" in M0, M1 and M2 is money circulation