Restrictions on the issuance of virtual currency
It is illegal to issue virtual currency privately
According to Article 29 of the regulations of the people's Republic of China on the administration of RMB, no unit or indivial is allowed to print or sell token tickets to replace RMB in circulation on the market In addition, the "emergency notice of the State Council Office for rectifying unhealthy tendencies in the instry, the State Economic and Trade Commission and the people's Bank of China on prohibiting the issuance and use of various token certificates (cards)" also strictly prohibited similar issues 
extended data
virtual currency refers to non real currency. Well known virtual currencies, such as online currency of Internet company, q-coin of Tencent company, q-point and voucher of Shanda company, micro currency launched by Sina (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver grain (used for bixue Qingtian game), and popular digital currencies in 2013 include bitcoin, Laite coin, infinite coin, quark coin, zeta coin, etc Barbecue coins, pennies (Internet), invisible gold bars, red coins, prime coins. At present, hundreds of digital currencies are issued all over the world. Popular in the circle & quot; The legend of "bitcoin, Wright silver, infinite copper, pennies aluminum"
market formation
the Internet has led to the emergence of a new market, which is a virtual market based on cyberspace. The Internet provides a lot of communication places for consumers, and also provides business market for enterprises. Enterprises must change from proct centered to service centered to customer centered. With the development of computer artificial intelligence technology and database technology, enterprises can conveniently collect customers' information, understand customers' needs in time, change business strategies and grasp economic arteries in real time
With the rapid development of computer and network communication technology, the application of Internet technology has graally penetrated into various fields of human activities, and the unlimited business opportunities that it contains make businesses turn their eyes to e-commerce. E-commerce is penetrating into all aspects of social and economic life at a speed that people can hardly imaginethe traditional finance is also closely watching this irresistible trend of global economic integration and networking. As a result, value-added services take art as the selling point and can be regarded as commodities; The sword in the game is not a brand-new financial services business philosophy - e-finance came into being
from the historical development process, to understand e-finance, we must start from the electronic finance and e-commerce. The so-called e-financialization means that financial enterprises adopt modern communication, computer, network and other information technology means in addition to Internet technology to improve the work efficiency of traditional financial service business, rece operating costs, realize the automation of financial business processing, informatization of financial enterprise management and scientific decision-making, and provide customers with faster and more convenient services, And then enhance the financial enterprise is the behavior of market competitive advantage
e-finance is a transcendence of financial electronization. Different from the electronic finance, the main technical basis of e-finance operation is the increasingly perfect Internet technology. Due to the characteristics of global connectivity, openness, quickness and low marginal cost of Internet technology, e-finance strengthens the restructuring and innovation of financial services business based on Internet technology, so that customers are free from the restrictions of business hours and places, and enjoy all kinds of high-quality and low-cost services provided by financial enterprises anytime and anywhere
with the development of Internet, the form of money is becoming more virtual, and there is an electronic money that only exists in the form of electronic signal
reference source: Network: virtual currency
Some virtual currencies are illegal in China. Chinese laws prohibit virtual currencies. The only legal currency in China is RMB. Since the people's Republic of China issued RMB, it has lasted 71 years. With the development of economic construction and the needs of people's life, it has graally improved and improved. So far, it has issued five sets of RMB, forming a multi variety and multi series monetary system of paper money and metal money, ordinary commemorative money and precious metal commemorative money
except for 1,2,5 fen coins, the first, second and third sets of RMB have been withdrawn from circulation, and the fourth set of RMB has been suspended from circulation since May 1, 2018 (except 1 jiao, 5 jiao notes and 5 jiao, 1 yuan coins). The current circulation of RMB is mainly the fifth set of RMB issued in 1999
the people's Bank of China is scheled to issue the fifth set of RMB 50 yuan, 20 yuan, 10 yuan, 1 yuan banknotes and 1 yuan, 5 jiao, 1 jiao coins of the 2019 edition from August 30, 2019. The fifth set of RMB inherits the traditional experience of China's printing technology and draws lessons from the advanced technology of foreign banknote design, which has greatly improved its anti-counterfeiting performance and currency processing modernization
Chairman Mao Zedong's head portrait in the early days of the founding of the people's Republic of China is used on the front of each denomination currency, the famous Chinese flower pattern is used on the bottom, and the main scenery pattern on the back fully shows China's long history and magnificent mountains and rivers, and carries forward China's great national culture by selecting representative patterns with national characteristics
There are two reasons for the prohibition of virtual currency trading by the state:
1. The price fluctuates violently and the consumer protection is lacking:
virtual currency is the proct of network, and the digital information flowing in the network is beyond everyone's control. The code of cyberspace is the basis of the operation of virtual currency, investors can only operate through the front-end interface, seemingly "control" the virtual currency. The operator of the virtual currency service organization may become the actual controller of the virtual currency through the control code
bitcoin and other so-called "virtual currencies" lack a clear value basis, the market is full of speculative atmosphere, the price fluctuates violently, and investors blindly follow suit, which is easy to cause capital losses
2. Evade supervision and become the "accomplice" of criminal activities:
bitcoin is popular as a payment tool in the so-called "dark web" world“ The "dark net" is full of all kinds of serious criminal activities. One of the original intentions of the invention of bitcoin is to evade regulation. It has the characteristics of anonymity and convenient cross-border flow, and has become the preferred tool of "underground economy"
the existence of bitcoin and exchanges and other instrial chains has constructed a illegal financial market for asset transfer and financing in addition to legal currency, increased the difficulty of regulatory authorities in managing financial security and stability, and promoted regulatory arbitrage and financial crimes. The risks and social security risks it brings to the financial market are far higher than its innovative value
extended information
virtual currency transactions are not protected by law:
according to the notice on preventing bitcoin risks issued by the people's Bank of China and other departments on December 3, 2013 and the announcement on preventing financing risks of token issuance issued by seven ministries and commissions including the people's Bank of China on September 4, 2017, virtual currency is not issued by monetary authorities, It is not a real currency because it does not have the monetary attributes of legal compensation and compulsion
in terms of nature, virtual currency should be a specific virtual commodity, which does not have the same legal status as currency, and can not and should not be used as currency in the market. Although citizens' investment and trading in other virtual currencies are personal freedom, they can not be protected by law
There are 78 kinds of RMB 50 yuan in 2005, The first large group is < br / < br / < br / < br / < br / < br / < br /
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there were 78 kinds of crown numbers in the first group, among which ah, AI and AJ were used as supplementary crown numbers
the fifth set of RMB inherits the traditional experience of China's printing technology and draws lessons from the advanced technology of foreign banknote design, which has greatly improved its anti-counterfeiting performance and currency processing modernization. The front of each denomination currency adopts the head portrait of Chairman Mao Zedong in the early days of the founding of the people's Republic of China, the background adopts the Chinese famous flower pattern, and the back main scene pattern fully shows China's long history and magnificent mountains and rivers, and carries forward China's great national culture through the selection of representative patterns with national characteristics
in the fifth set of RMB, the 10 cents, 2 cents, 5 cents and 2 yuan notes in the fourth set of RMB were cancelled, and 20 yuan notes were added
< H2 > extended materials:50 yuan back: Potala Palace
in order to make the fifth set of 50 yuan coupons for Potala Palace, two senior artists from Shanghai banknote printing and mint came to Lhasa for investigation. They searched for a long time, and finally found the "best angle" on the top of a water plant. They first took photos and sketched here. After repeated modification and carving, they finally designed the patterns on the RMB
Potala Palace was built in the 7th century ad for Songzanganbu, the king of Tibet, who married Princess Wencheng of the Tang Dynasty in Tibet. In Lhasa, a palace with 999 houses was built on the red mountain, which is more than 3700 meters above sea level. The main building of the palace has 13 floors and is 115 meters high
< H2 > reference: Internet - the fifth set of RMBglobal financial technology investment and financing scale
in 2017, with the listing trend of financial technology companies as the background, the global financial technology development index (GFI) has repeatedly reached new heights, reaching the highest value of 193 in November and closing at the second highest point 192 in December. The Internet search index rose all the way to 405, up 305% from the benchmark
in 2017, there were at least 649 financing events in the field of global financial technology, an increase of 8% year on year; The total amount of funds involved was about 139.7 billion yuan, an increase of 19% year on year. Among them, there are 328 financing events in China, 101 in the United States and 63 in India. The maximum amount of financing was 9.7 billion yuan, which was obtained by Zhongan online, a Chinese Internet insurance platform
the popularity of online lending and payment runs through the whole year. The former has 134 financing transactions, with a total amount of about 34.4 billion yuan; The latter has 93 financing transactions, with a total amount of about 26.5 billion yuan. Although there were only 23 financing transactions in the whole year, the total amount of funds involved reached 21.7 billion yuan&# 8194;< According to the statistical data of "in-depth research and investment strategic planning analysis report on science and technology financial services" released by foresight Instry Research Institute, the revenue scale of China's financial technology in 2016 was 421.38 billion yuan, up 42.0% year on year. By 2017, China's financial technology revenue reached 654.14 billion yuan, a year-on-year increase of 55.2%. It is estimated that China's financial technology revenue will reach 964.5 billion yuan in 2018, with an average annual compound growth rate of about 32.26% in the next five years (2018-2022). It is estimated that China's financial technology revenue will reach 2951.3 billion yuan in 2022< In the field of network asset management, the growth rate of network asset management market in 2016 exceeded 50%. The scale of China's network asset management exceeds 2.7 trillion yuan. It is estimated that China's network asset management will exceed 6 trillion yuan by 2020
analysis of the development trend of China's financial technology
1. Financial technology conforms to the development trend of the financial instry
since 2016, the growth rate of the number of Internet users in China has slowed down, the demographic dividend of the Internet instry has graally disappeared, and the era of Internet Finance relying on the rapid growth of user scale has come to an end. When the Internet financial enterprises from blindly pursuing the number of users to looking for the promotion factors of instry development, the importance of science and technology is found by more financial practitioners. Moreover, with the deepening of financial transformation by financial technology, the proction system of China's traditional financial institutions is moving from a closed system to an open system, and the boundary of finance is constantly widened. Therefore, many financial technology enterprises, with their specialization, verticality and understanding of customers and markets, begin to intervene in the financial system of traditional financial institutions, Become a major player in the financial sector
2. The improvement of financial technology infrastructure has promoted the online credit from the 1.0 stage of only using the Internet as a means to obtain customers to the 2.0 stage of Internet whole process management. These infrastructures include: first, payment, the popularization and development of mobile payment infiltrates financial services into various consumption scenarios, and realizes online lending safely and conveniently; Second, credit investigation. The accumulation of big data and the continuous iteration of anti fraud model over the years have improved the accuracy of online big data risk control; Thirdly, blockchain technology helps to break the data island and make the data information of different financial institutions common; Fourth, biometrics. The maturity and development of biometrics technology make online user identification possible
3. Promote the close integration of financial services and user scenarios
in essence, financial technology is a financial innovation driven by new technology, which takes the great progress of cutting-edge information technology as the premise, makes financial services break through the time and space constraints, makes financial functions more scene oriented, and greatly reces the transaction cost of financial services, It makes up for the weakness of the traditional financial system
with the opening up of the financial chain, financial technology will bring all aspects of the chain into its optimization scope, so it will inevitably derive to non-financial fields, such as e-commerce finance, medical and US staging and so on. With the promotion of financial technology, the boundary between finance and consumption is graally blurred. Through biometrics, cloud computing and other technologies, financial technology enterprises closely combine financial services with users' life scenes, and constantly optimize their financial procts and promote consumption by collecting and analyzing the behavior data generated by users' consumption< In 2016, the penetration rate of e-payment users was the highest, followed by network asset management, both of which were more than 60%. Due to the threshold of online credit, the penetration rate of Internet users is only 22.8%. But in fact, the penetration index only counts the users who have real online lending behavior. In addition, there are also a large number of quasi network credit users, and all major network financial giants will extend credit to all their users in advance. Therefore, these quasi credit users are also the target customers of financial technology in serving the network credit instry. In other words, electronic payment and network asset management are users of financial technology in the field of network credit on many levels. To sum up, unlike Internet finance, financial technology is more advanced in the instry, so it can cover a wider customer base.
so far, currency issuance has basically gone through three stages:
first, gold and silver reserve system: under the metal currency system, it was stipulated that the central bank must have 100% reserve for issuing bank volume, At that time, banks could freely exchange gold and silver.
2: guarantee reserve system: after the non cash credit currency system replaced the metal currency system, the central bank was allowed to issue currency guaranteed by securities, foreign exchange and even other assets. (this is one reason why the state attaches importance to foreign exchange reserves)
3: managed currency system: in order to prevent the central bank from issuing excessive banknotes, Many countries used to implement the maximum limit system of banknote issuance, but because they realized that bank deposits are also money, it is not enough to only control banknotes, so it has developed to control the money supply management including banknotes and bank deposits. Now it has developed to regulate the money supply through the monetary policy of the central bank.
after reading the above answers, you should understand the principle of currency issuance, right
when and how much? This is not a very clear definition. However, there is an algorithm for the amount of money needed in circulation: under normal circumstances, the amount of money in circulation = the total amount of goods for sale / the velocity of money in circulation
New bitcoin is generated through "mining", which is a competitive and decentralized process. This process involves indivials serving the bitcoin network and getting paid for it. Bitcoin miners use dedicated hardware to process transactions and protect bitcoin networks, and collect new bitcoins ring transactions
bitcoin protocol is designed to issue new bitcoin at a fixed rate. This makes bitcoin mining an extremely competitive instry. As more and more miners join the bitcoin network, it becomes more and more difficult to make profits. Miners must seek efficiency to cut proction costs. No central authority or developer has the right to control or manipulate the system to increase their profits. Any behavior that does not comply with the rules required by the system will be rejected by any bitcoin node in the world
bitcoin is issued at a predictable and graal decline rate. The number of new bitcoins will be halved year by year until the total number reaches 21 million. By then, bitcoin miners may be able to support only a large number of small transaction costs
since 2013, the popular virtual currencies are bitcoin, Laite coin, Fuyuan coin, Ruibo coin, Yuanbao coin and so on.