Core characteristics of digital currency
digital currency is characterized by low transaction cost, fast transaction speed and high anonymity
1, low transaction cost
compared with traditional bank transfer, remittance and other ways, digital currency transaction does not need to pay fees to the third party, and its transaction cost is lower, especially compared with the cross-border payment that provides high handling charges to payment service providers
2. Fast transaction speed
the blockchain technology used in digital currency has the characteristics of decentralization. It does not need any centralized organization similar to the clearing center to process data, and the transaction processing speed is faster
3. High anonymity
in addition to the point-to-point transaction without intermediary participation, one of the advantages of digital currency compared with other electronic payment methods is that it supports remote point-to-point payment, and it does not need any trusted third party as intermediary, Both sides of the transaction can complete the transaction in a completely unfamiliar situation without mutual trust, so they have higher anonymity, which can protect the privacy of traders. But at the same time, it also creates convenience for cyber crime, which is easy to be used by money laundering and other criminal activities
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the impact of digital currency:
digital currency is a double-edged sword. On the one hand, the blockchain Technology it relies on realizes decentralization 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 stabilitydefinition of digital currency:
the alternative currency in the form of electronic currency belongs to digiccy
digital currency is a kind of 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 the digital expression of value, which is not issued by the central bank or authorities, nor linked with legal currency, but because it is accepted by the public, it can be used as a means of payment, and can also be transferred, stored or traded electronically
digital currency can be considered as a virtual currency based on node network and digital encryption algorithm
the core characteristics of digital currency are mainly reflected in three aspects: first, e to some open algorithms, digital currency has no issuing subject, so no one or institution can control its issuing; ② Because the number of algorithm solutions is fixed, the total amount of digital currency is fixed, which fundamentally eliminates the possibility of inflation caused by the overuse of virtual currency; ③ Because the transaction process needs the approval of each node in the network, the transaction process of digital currency is safe enough
the emergence of bitcoin poses a great challenge to the existing monetary system. Although it belongs to the generalized virtual currency, it is essentially different from the virtual currency issued by network enterprises, so it is called digital currency. This paper compares digital currency with electronic currency and virtual currency from the aspects of issuing subject, scope of application, issuing quantity, storage form, circulation mode, credit guarantee, transaction cost and transaction security.
definition of currency
digital gold currency is a form of electronic currency named after the weight of gold. The typical unit of measurement for this currency is the Troy gram or troy ounces, although sometimes the golden Dinar is used. Digital gold currency is funded by gold storage without quota or decentralized quota. By January 2006, digital gold currency suppliers held more than 8.6 metric tons of gold as reserves, worth about $154 million
future trend
in November 2016, the central bank prepared digital currency, and it is likely that cash will not exist in ten years
in November 2016, China digital currency Research Institute was established to cultivate high-level talents of digital currency, carry out digital currency research, consultation, development planning and related activities. It is a non-profit unit with legal license approved by relevant ministries and commissions, and is committed to promoting the integrated development of scientific research and practice of digital currency instry
up to now, Hangzhou, Shenzhen and Guizhou have become three hot areas for the central bank's digital currency pilot. It is reported that Hangzhou is actively promoting the planning and construction of Qiantang River financial harbor, including the blockchain instry. Hangzhou will build the first blockchain Instrial Park in China, which is located in the Internet Finance town of Xihu District, surrounded by ant financial services, e-commerce bank, Zhejiang University and its science and Technology Park and other well-known enterprises and parks
in February 2020, digital currency was selected by MIT Technology Review as one of the top ten breakthrough technologies in the world in 2020
Core password is used to protect national top secret, secret and secret information, while ordinary password is used to protect national secret and secret information
core password and ordinary password are used to protect state secret information, effectively guarantee the security of central government orders and military orders, and build a password barrier for safeguarding the sovereignty, security and development interests of national cyberspace. According to the law of the people's Republic of China on keeping state secrets, state secrets refer to matters related to national security and interests, which are determined according to legal proceres and only known to a certain range of people within a certain period of time According to the different protected objects, the code law divides the core code and ordinary code
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the core password and common password part specifies the requirements for the use of core password and common password, the security management system, and a series of special security systems and measures for the state to strengthen the work of core password and common password
in the part of commercial password, it stipulates the commercial password standardization system, testing and certification system, market access management system, use requirements, import and export management system, e-government e-authentication service management system and commercial password in-process and post supervision system
pay attention to risks in investment!
Digital currency is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy
can be considered as a virtual currency based on node network and digital encryption algorithm. The core characteristics of digital currency are mainly reflected in three aspects:
① e to some open algorithms, digital currency has no issuing subject, so no one or organization can control its issuing
(2) the total amount of digital currency is fixed because the number of algorithm solutions is determined, which fundamentally eliminates the possibility of inflation caused by the overuse of virtual currency (3) as the transaction process needs the approval of each node in the network, the transaction process of digital currency is safe enough
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features:
1, low transaction cost
compared with traditional bank transfer, remittance and other methods, digital currency transaction does not need to pay fees to a third party, and its transaction cost is lower, especially compared with the cross-border payment that provides high handling charges to payment service providers
2, fast transaction speed
the blockchain technology used in digital currency has the characteristics of decentralization, and it does not need any centralized organization similar to the clearing center to process data, so the transaction processing speed is faster
3, high anonymity
in addition to the physical form of currency can achieve point-to-point transactions without intermediary participation, one of the advantages of digital currency compared with other electronic payment methods is that it supports remote point-to-point payment, and it does not need any trusted third party as intermediary, Both sides of the transaction can complete the transaction in a completely unfamiliar situation without mutual trust
therefore, it has higher anonymity and can protect the privacy of traders, but it also creates convenience for cyber crime, which is easy to be used by money laundering and other criminal activities
Digital money (electronic money or electronic currency) is a kind of money in digital form (different from paper money and coins). It shows properties similar to physical currency, but allows immediate transaction and boundaryless ownership transfer. Examples include virtual currency, cryptocurrency and currency issued by central bank and recorded in computer database (including digital base currency). Like traditional currencies, they may be used to buy physical goods and services, but they may also be restricted in some communities, such as online games