Does virtual currency have basic functions

1. blockchain technology is a decentralized consensus mechanism to maintain a complete, distributed and tamperable ledger database. It can enable the participants in the blockchain to achieve a unified ledger system without establishing a trust relationship
in the future, blockchain will be applied in any field and bring great impact on human life. Blockchain technology is regarded as one of the main protocols of the next generation of value Internet. Blockchain technology will be useful in any field of proction and life that lacks trust. From digital currency to securities and financial contracts, health care, games, artificial intelligence, intelligent contracts, Internet of things, identity authentication, asset trading, e-commerce, social communication, file storage and other fields can be widely used
in the aspect of medical treatment
when the blockchain technology is used to save the personal medical records, there will be the historical data of personal medical treatment, which can be understood as the electronic medical records on the blockchain. In the future, there will be data for medical treatment or health planning, and the real master of this data is the patient himself, not the hospital or a third-party organization. In addition, these data have strong privacy, and the use of blockchain technology also helps to protect the privacy of patients
payment system
compared with the existing traditional payment system, blockchain technology can avoid the complex system, directly between the two sides of the transaction, does not involve intermediary institutions, even if part of the network is paralyzed, it will not affect the operation of the whole system. This method has the characteristics of low price, fast speed, and no intermediate fees
banking
as a digital, secure and anti-interference account, blockchain realizes the core function of Banking: the safe storage and transfer center of value. Some banks with keen sense of smell in the world have begun to actively plan to join the army of blockchain research and application in order to gain the initiative in the fierce competition in the future
identity authentication of blockchain
blockchain has the feature of being accessible to everyone. Everyone can query the block information in any place with network. The high transparency also makes blockchain full of charm. In the future, ID card and account book are basically not needed, because every identity information can be written into the blockchain. When you need to verify the information, you only need to look it up to find it
election
based on the voting transaction on the blockchain, it can be confirmed that no vote has been modified or deleted, and there will be no improper voting
Real Estate
blockchain technology can change the operation mode of the real estate market. It can combine many complex processes and cases that real estate companies usually deal with, speed up the transaction process, rece fraud, and provide more transparent and secure transactions for each participant. Provides a way to achieve paperless and fast trading needs
securities issuance and trading
the probability of various kinds of errors in general stock and other securities trading is too high, which requires manual correction, thus prolonging the time required for transaction settlement. Through the transaction of distributed ledger, the automation of the whole process can be realized, and the security and efficiency can be improved. The identity and transaction volume of the trading party are recorded on the blockchain in real time, with an open, transparent and traceable system. It is concive to the market maintenance of securities issuers and regulatory authorities, and can rece the occurrence of black box operation and insider trading
in the scenario of relatively closed, multi-party trust problems and carrying value transmission, blockchain has unique technical advantages and also shows unique charm, which has great application imagination space. At the current stage, blockchain is worth exploring in some scenarios.

2. In the process of the development of human society, people exchange what they can proce with what they need but cannot proce (others can proce) according to their own needs and proction capacity. For example, I live on the coast, and I trade salt for food with the landlord who lives inland. This is the initial barter, but I want food and vegetables; You need not only salt, but also vegetables. Graally, we find that vegetables are common things that we need. Vegetables serve as the general equivalent for the time being. That is to say, vegetables are used as the standard to measure other commodities. With the development of human history, wear-resistant, corrosion-resistant and rare precious metals have graally developed into currency in line with the characteristics of common equivalents. The original barter is transformed into the process of commodity currency commodity
therefore, money is a kind of commodity, so it has the same use value and exchange value as all commodities. When in different forms of value movement, money plays different roles: value scale, means of circulation, means of payment, means of storage and world money. Among them, value scale and circulation means are the basic functions of money. Because currency is special compared with ordinary commodities in that it can use itself to measure the value of other commodities and promote its use in a certain range. The other three functions are derived from them. Money is a general equivalent when it acts as various functions
value scale
value scale is the direct embodiment of money as social labor. As a kind of commodity, money itself can be compared with other commodities according to its own standard. At this time, the form of value of commodities is transformed into the form of price, and the form of value of commodities expressed through money is price. When money performs the function of value measure, money only needs to exist in imaginary or conceptual form, but its unit must depend on the currency circulating in reality. It is precisely because of the value scale function of money that people can first convert different forms of goods into the price form of money, and then exchange with other goods. Money itself, as a commodity, also has the difference in quantity between different currencies. Therefore, people also set a quantity standard for money, that is, the price standard (sometimes also called the price scale). It is made of a unit of currency and its equal parts containing a certain weight of metal
means of circulation
after the currency implements the means of circulation, it makes the exchange of goods possible. The circulation means is the development of the function of monetary value measure. With the emergence of money, the exchange between commodities has changed from direct barter exchange to currency exchange. That is, from commodity commodity to commodity currency commodity. There are not only formal differences but also qualitative differences between them. When currency performs the function of circulation means, it must use real currency instead of conceptual currency
function of storage means
meaning: storing wealth (the symbol of wealth) is not money in concept, but gold and silver bars (such as metal bars, etc.)
the function of storage means of money is the function of money withdrawing from circulation and being preserved as the general representative of social wealth. As a means of storage, money can spontaneously regulate the amount of money in circulation. When the amount of money needed in circulation decreases, the surplus money will withdraw from circulation; When the amount of money needed in circulation increases, part of the stored money goes into circulation. The money used as a means of storage must be real and valuable gold and silver money. Only gold and silver coins or gold and silver strips can play the role of currency storage
banknotes do not have the function of storage means. Only when the value of paper money remains stable for a long time can people store paper money. The paper money has the function of storage means (in the bank), but does not have the function of storage means
payment means function
function: to pay debts, government rent, interest, taxes, wages, etc. The need for real money is accompanied by the emergence of commodity credit trading
functions of world currency: purchasing foreign goods in the world market and paying the balance of payments. The need for real money, as a representative of social wealth, is generated when countries transfer from one country to another

3.

Value scale: money value scale is the most basic and important function of money, that is, money acts as a scale to show and measure the value of all other commodities. The quantity of commodity value depends on the length of social necessary labor time

Means of circulation: means of circulation refers to the function of money as a medium of exchange in commodity circulation. Before the emergence of money, commodity exchange was the direct exchange of goods, that is, commodity commodity. After the emergence of money, commodity exchange is carried out through money as a medium, namely commodity currency commodity. Here, money plays the role of medium in the exchange of two kinds of commodities and performs the function of circulation means

Storage means: the function of storage means of money is the function of money withdrawing from circulation and being preserved as the general representative of social wealth. As a means of storage, money can spontaneously regulate the amount of money in circulation. When the amount of money needed in circulation decreases, the surplus money will withdraw from circulation; When the amount of money needed in circulation increases, part of the stored money goes into circulation. The money used as a means of storage must be real and valuable gold and silver money. Only gold and silver coins or gold and silver strips can play the role of currency storage

means of payment: means of payment refers to the function of money in the performance of debt settlement. In commodity exchange, the sale of goods can be carried out on credit instead of cash, and cash can be paid after a certain period of time

CCY (currency) is essentially a contract between the owner and the market on the right of exchange, which is essentially an agreement between the owners. I give what I have to the market in exchange for what I need. Money is the agreement in this process, which reflects the economic cooperation between indivials and society

the nature of money contract determines that money can have different forms, such as general equivalent, precious metal money, paper money, electronic money and so on. It can be used as a medium of transaction, storage value, deferred payment standard and accounting unit. Physical currency is a special commodity that serves as an equivalent in the exchange of goods and services. It is the material and symbolic appendage of people's commodity values

it includes not only currency in circulation, especially legal currency, but also various savings deposits. In the field of modern economy, only a small part of the field of currency is displayed in the form of real currency, that is, most transactions use checks or electronic currency

4. Yes
for example, the current electronic transfer is actually virtual currency
of course, paper money itself is a currency symbol, not a currency
the goods ratio is the general equivalent
nowadays, paper money or virtual currency are all transactions based on national credit or enterprise credit
in these economic activities, virtual currency acts as a measure of value and a means of circulation.

5. The functions of money are also different: value scale, means of circulation, means of payment, means of storage and world money. 1. The function of payment means is to pay debts, government rent, interest, taxes, wages, etc. The function of world currency is to buy foreign goods in the world market and pay the balance of payments. The need for real money, as a representative of social wealth, is generated when countries transfer from one country to another. 3. Value scale is the direct embodiment of money as social labor. As a kind of commodity, money itself can be compared with other commodities according to its own standard. At this time, the form of value of commodities is transformed into the form of price, and the form of value of commodities expressed through money is price.

6. Monetary function is the embodiment of the essence of money. Under the condition of developed commodity economy, money has five functions: value scale, circulation means, storage means, payment means and world money. These five functions of currency are graally formed with the development of commodity economy. Among them, value scale and circulation means are the most basic functions of money. Money, as a measure of value, measures whether and how much a commodity has, and then realizes the value of the commodity as a means of circulation
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7. 1. Value scale refers to that money acts as a social scale to measure the value of commodities. The reason why money can perform the function of value measurement is that money itself has value, so it can measure the value of other commodities by its own value.

8.

Money has five major functions, which are as follows:

1. Value scale refers to the use of money as a social scale to measure the value of goods. The reason why money has the function of value scale is that money itself has value, Therefore, we can use our own value to measure the value of other commodities

2. Circulation means

refers to the function of money as the medium of exchange between different commodities, that is, the purchase means. The main feature of this function is that it can make the transfer of goods and money complete at the same time in commodity trading

Storage means refers to the function that money withdraws from circulation and is preserved as the general representative of social wealth. The function of storage means of money can spontaneously regulate the total amount of money in circulation

The function of means of payment was born with the emergence of commodity credit trading. In commodity credit trading, money can be used to pay the debts in the trading, and then it is developed to pay government rent, interest, tax, wages and so on

World currency refers to the function of currency acting as a general equivalent in the world market beyond the domestic circulation field. The functions of precious metals as world currency are as follows: as a general means of payment, they are used to pay the balance of international payments; as a general means of purchase, they are used to buy foreign goods, act as the absolute embodiment of wealth, and transfer from one country to another

9. The advantages of bitcoin: no freezing, no tracking, no taxes, and extremely low transaction costs

10. Virtual currency is not a commodity, not a currency, and can not undertake the function of currency