The impact of digital currency on real estate
in China, the representative of the combination of blockchain and real estate is the blockchain real estate application "fangyixin" of Xinyuan group, a listed real estate company. Public information shows that Xinyuan is IBM's first partner in the field of blockchain in China
on the platform, IBM provides the underlying blockchain technology and intelligent contract technology. On this basis, Xinyuan builds the upper real estate information database, real estate valuation system, transaction circulation system, risk control and other moles, which are said to support a variety of financial applications such as consumer finance, investment and financing finance, instrial finance, etc., and connect with investment and financing institutions, credit reference institutions and consumer businesses
however, the combination of blockchain and real estate instry is still in its infancy in terms of application. It will take time to test which step it can take and whether it will attract the attention of the national team like digital currency
blockchain not only has an impact on the real estate instry, but also has a potential impact on the existing instries. Coin Ying China and China post are in the forefront of using blockchain technology. Coin Ying China uses blockchain to reshape the crowdfunding instry, while China Post takes the lead in applying blockchain technology to asset custody.
for example, if RMB with a face value of 500 is issued, will it affect house price?
many procts of blockchain technology are not currency, although they are called currency. Under the guise of digital currency investment, it is a Ponzi scheme. Even some of them don't even have blockchain technology, which is just a fake number to cheat people.
we can understand that digital currency is an account book containing all historical transactions. Each block will have several transaction records, which can be viewed by all participants. Each participant of digital currency has to maintain this account book together, Digital currency is a collection of transaction data
for example, in the field of digital currency bitcoin, there will be the concept of "miner". Miner needs to constantly repeat operations to generate workload, and each miner has competition. It needs to complete a mathematical problem based on cryptographic hash algorithm. The answer is in the area, if who works out the answer first, So who can broadcast in the network that he has obtained this block, other miners will not go to this block for mining, but will work in the next block. Miners will have more transaction costs in his block, and they will generate what we call digital currency bitcoin as a reward, and then they will go to their own digital currency bitcoin account
there is no problem with digital currency itself. There may be criminals using digital currency as a cover to cheat, which needs to be carefully screened
1. The volume of digital currency is too large. With the development of digital currency, the volume of digital currency stored in nodes is becoming larger and larger, and the computing burden is also increasing. Colleagues have also caused a lot of impact on the operation of digital currency bitcoin client
2. There is a problem with the data confirmation time. The time for a digital currency bitcoin transaction is about 10 minutes. If we confirm six times, we need to wait for an hour, which is a long time;
the market is so hot because Alec released such a message before:
Auckland (located in the west coast of the United States, California, San Francisco, less than half an hour's drive), a set of four rooms and two bathrooms, which has recently been renovated and sold for $648000, accept payment in bitcoin, Ethereum or other cryptocurrencies
as soon as the news spread, telephone calls and e-mails for consultation flooded in
as we all know, houses near San Francisco are always in short supply. Usually, a house can receive more than ten offers
this is a market where sellers have an absolute advantage. In fact, Alec doesn't worry about not being able to sell
so why did he choose to accept cryptocurrency payment? The answer is only two words: try fresh
from 2017 to the present, blockchain is in a period of vigorous development, and Alec also wants to try something new. As a senior real estate investor, his first thought is, of course, how to connect cryptocurrency with real estate
to this end, he visited a large number of blockchain start-ups in Silicon Valley, involving property rights records, cross-border transactions, crowdfunding investment, equity transfer, and learning about cryptocurrency
in the end, he decided to experience the cryptocurrency market in the simplest way: accepting buyers to pay for cryptocurrency
as for the pros and cons of trying fresh food, Alec analyzes it as follows: "the price of cryptocurrency is constantly fluctuating for a house of more than 700000 yuan. If all the houses accept cryptocurrency, the fluctuation is not a small number; The harvest is that you do a lot of homework when you try new ideas, and you can learn about a brand new market. "
in the end, he accepted a hybrid scheme: more than half of the money was paid in US dollars, and the remaining half in ether. This part of etheric currency is calculated according to the currency price on the end of the transaction, and is paid according to the exchange value between us dollar and etheric currency
Yes, Ethereum is the popular eth in 2017, and its market value is second only to bitcoin.
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 besides 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, financial stability and so on. Specific Wu Xiaoxia:
1. Impact on monetary policy
if digital currency is widely accepted and can play the role of currency, it will weaken the effectiveness of monetary policy and bring difficulties to policy-making
because digital currency issuers are usually unregulated third parties, money is created outside the banking system, and the amount of circulation depends entirely on the wishes of the issuers, which will lead to the instability of money supply. In addition, the authorities are unable to monitor the issuance and circulation of digital currency, which will lead to the inability to accurately judge the economic operation and bring trouble to policy-making, At the same time, it will weaken the effectiveness of policy transmission and implementation
2. Impact on financial infrastructure. The use of distributed ledgers also poses challenges to trading, clearing and settlement, as it promotes the disintermediation of traditional service providers in different markets and infrastructures. These changes may have potential impacts on market infrastructure other than retail payment systems, such as large payment systems, securities settlement systems or trading databases
3. The impact on financial intermediation and financial market in a broad sense. As a financial intermediary, banks perform the ties of acting supervisors and supervise borrowers on behalf of depositors
generally, banks also carry out liquidity and maturity conversion business to realize the financing from depositors to borrowers. If digital currency and distributed ledger are widely used, any subsequent disintermediation may have an impact on savings or credit evaluation mechanisms
4. The impact of security risks and financial stability
assuming that digital currency is recognized by the public, its use increases significantly and replaces legal currency to a certain extent, negative events such as network attacks on user terminals related to digital currency will lead to currency fluctuations, which will have an impact on the financial order and the real economy
in addition, the virtual currency based on blockchain technology is usually held by a few people at the beginning. For example, the first purchase of bitcoin in May 2010 was $25 pizza purchased by 10000 BTC, and the price of each bitcoin rose to $1200 in more than three years by the end of 2013
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extended materials
Amazon will launch digital currency project in Mexico. Amazon is recruiting software development managers for digital and emerging payments (DEP) to develop new payment procts that will enable customers to convert cash into digital currency
the digital and emerging payments sector intends to launch the proct in Mexico first. The follow-up will be extended to Brazil and India. It is reported that the digital currency project will completely focus on payment services in emerging markets