Swiss virtual currency
according to the notice and announcement issued by the people's Bank of China and other departments, virtual currency is not issued by the monetary authority, does not have legal compensation and mandatory monetary attributes, is not a real currency, does not have the same legal status as currency, cannot and should not be used as currency in the market, and citizens' investment and transaction of virtual currency are not protected by law
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the first category is familiar game currency
the second type is the special currency issued by the portal website or instant messaging service provider, which is used to purchase the services in the website. The most widely used is Tencent's q-coin, which can be used to purchase membership, QQ show and other value-added services
the first two types can be regarded as one, which is only a detailed difference in function. Since the end of 2016, the third type of digital currency has quietly entered our life, which refers to the digitization of currency. Digitization doesn't mean scanning. This is just like digital signature. Digital signature does not mean scanning your signature into a digital image, or using the touchpad to obtain the signature, let alone your signature. Digital currency is often mistaken for virtual currency. But virtual currency refers to non real currency. For example, when you play "Three Kingdoms" (game) or "grand Voyage", you have money, which is virtual, that is, the first and second categories we just described. Of course, the virtual money will also have its real value. For example, if you buy her / his account from another player, you can get all the virtual assets of that player, and then it will be much easier for you to continue playing. Virtual money is not necessarily digital. For example, children play games with pebbles as virtual currency
there are also obvious differences between the transaction rules of digital currency and virtual currency. In most cases, the value of digital currency is higher than that of virtual currency, and it needs more strict transaction rules to carry out transactions
the top three currencies of digital currency are BTC eth EOS
it is reported that the Ecuadorian government will soon adopt digital currency as a supplement to its dollar based real currency system
the Ecuadorian government is going to adopt digital currency instead of popular bitcoin. In fact, Ecuador will implement its own electronic currency system, officially known as "sistema de dinero electric" ó "Nico", Ecuadorian officials said that the digital currency is only a supplement to Ecuador's real currency, but some experts seem to think that there may be other motives for this move
Ecuador is not the only country to use digital currency. Sweden is also using digital currency, but the difference is that Ecuador's digital currency is run by the government itself, which can't help raising doubts. Of course, Ecuadorian officials guarantee that Ecuador's financial system will maintain the status quo, and e-money will only supplement the existing monetary system
since 2013, the popular virtual currencies are bitcoin, Fuyuan coin, Laite coin, doggy coin, Ruibo coin, Yuanbao coin and so on.
however, the "settlement coin" being developed by UBS is different from the digital currency bitcoin, which will be linked with real-world currencies and central bank accounts
this virtual currency will be used to support transactions on institutional financial platforms, which are based on the so-called "blockchain technology", similar to the so-called "distributed ledger" on which bitcoin completes transactions
for example, Swiss bank may have its own platform based on blockchain technology to issue bonds, while another bank may have a stock trading platform based on blockchain technology, but both platforms can use the same "common settlement currency" for settlement
unlike real currency, the "allocated ledger" used in this virtual currency will be verified by a computer network on the Internet, rather than by a centralized authority“ The result of the first use of "allocated ledger" is the creation of bitcoin, a virtual currency linked to money laundering and the online drug market, but it is being used by more and more legitimate businesses and emerging financial services start-ups around the world
in the past 18 months, blockchain technology has increasingly been regarded as a breakthrough trading and settlement method by mainstream financial institutions, which can be used for trading and settlement of real-world financial instruments such as stocks and bonds
UBS is working with clearmatics, a London start-up company, to develop this digital currency, which has developed a software based on blockchain technology to clear and settle financial transactions. Swiss bank executives said they did not plan to issue the digital currency on their own, but wanted to work with other market players, such as asset management companies, regulators and market structure providers such as clearing houses and exchanges, to create an instry wide proct
at present, more and more traditional financial institutions have begun to face bitcoin, especially blockchain technology. In the jewelry instry, Fuyuan coin with the nature of instry business points also appeared. Bitcoin and bitcoin technology will enter thousands of households in the near future.
however, the "settlement coin" being developed by UBS is different from the digital currency bitcoin, which will be linked with real-world currencies and central bank accounts
this virtual currency will be used to support transactions on institutional financial platforms, which are based on the so-called "blockchain technology", similar to the so-called "distributed ledger" on which bitcoin completes transactions
for example, Swiss bank may have its own platform based on blockchain technology to issue bonds, while another bank may have a stock trading platform based on blockchain technology, but both platforms can use the same "common settlement currency" for settlement
unlike real currency, the "allocated ledger" used in this virtual currency will be verified by a computer network on the Internet, rather than by a centralized authority“ The result of the first use of "allocated ledger" is the creation of bitcoin, a virtual currency linked to money laundering and the online drug market, but it is being used by more and more legitimate businesses and emerging financial services start-ups around the world
in the past 18 months, blockchain technology has increasingly been regarded as a breakthrough trading and settlement method by mainstream financial institutions, which can be used for trading and settlement of real-world financial instruments such as stocks and bonds
UBS is working with clearmatics, a London start-up company, to develop this digital currency, which has developed a software based on blockchain technology to clear and settle financial transactions. Swiss bank executives said they did not plan to issue the digital currency on their own, but wanted to work with other market players, such as asset management companies, regulators and market structure providers such as clearing houses and exchanges, to create an instry wide proct.
Swiss Franc
the name and unit of the Swiss federal standard currency. The second unit of currency is Rappen / centime. One Swiss Franc equals 100. There are 10, 20, 50, 100, 200 and 1000 Swiss francs in circulation; The coins have denominations of 5,10,20 and 0.5,1,2,5 Swiss francs
Before 1848, the federal government was given the responsibility of issuing currency by the Swiss constitution. Before that, all kinds of domestic and foreign coins were in circulation in Switzerland. Each state issued its own currency and had its own monetary systemaccording to the law of coinage, which came into effect on May 7, 1850, Switzerland adopted the silver standard system. The name of the currency was defined as franc, which belongs to the unlimited legal compensation currency. 1 Franc = 100 births (centime or German Rappen), and its value was equal to that of French franc. Previously, around 1860, only French gold coins were allowed to circulate
On December 23, 1865, Switzerland, France, Belgium and Italy formed the Latin monetary union, which stipulated that gold and silver coins could be freely circulated in each member country, with unlimited legal compensation and fixed official exchange rates among the currencies of each member country. As a result, there are several currencies in circulation in Switzerland at the same time. After the dissolution of the alliance in 1925, the Swiss government banned the circulation of foreign coins, and the Swiss Franc became the only currency in circulation When the Swiss Franc was established as the national currency, although the federal government was the only issuer of the franc, before 1910, private banks were allowed to issue their own banknotes. The National Bank of Switzerland was established in 1907 and has been the only bank note and coin issuing institution since 1910 
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the Swiss economy has always been conservative and stable, and will not fall into the morass of sovereign debt. Although Switzerland is not a member of the European Union, it is located in the heart of Europe and has extremely close economic ties with the European Union. The strength of the Swiss franc is affected by the external economic environment, especially the economic environment of the European Union
since the sovereign debt crisis broke out in Greece in May 2010, the EU's plan to save the euro has not been very effective. Recently, international rating agencies have successively lowered the credit ratings of euro zone member countries, resulting in severe turmoil in the European financial market and the deterioration of the euro's trust, which has led to the rapid rise of the exchange rate of the Swiss franc against the euro
the loose monetary policy of the US government and the overall recovery of the US economy were slower than expected, and the US dollar exchange rate continued to decline; In addition, investors have long believed that the Swiss franc is highly risk averse. It is inevitable that the exchange rate of the Swiss franc against the world's major currencies will continue to rise
The currency used in Switzerland is the Swiss franc
Swiss franc is the legal tender of Switzerland and Lichtenstein, which is issued by the Central Bank of Switzerland. The Swiss franc is a hard currency. Most of Switzerland's neighbors use the euro. There are also shops and institutions in Switzerland. Since January 15, 2015, the Swiss Franc has been decoupled from the euro. Swiss francs 200, 50, 20 and 10 have been issued. Currency code: CHF
according to the law of coinage, which came into effect on May 7, 1850, Switzerland adopted the silver standard system. The name of the currency was defined as franc, which belongs to the unlimited legal compensation currency. 1 Franc = 100 births (centime or German Rappen), and its value was equal to that of French franc. Previously, around 1860, only French gold coins were allowed to circulate
On December 23, 1865, Switzerland, France, Belgium and Italy formed the Latin monetary union, which stipulated that gold and silver coins could be freely circulated in each member country, with unlimited legal compensation and fixed official exchange rates among the currencies of each member country As a result, there are several currencies in circulation in Switzerland at the same time. After the dissolution of the alliance in 1925, the Swiss government banned the circulation of foreign coins, and the Swiss Franc became the only currency in circulation When the Swiss Franc was established as the national currency, although the Federation was the only issuer of the franc, before 1910, private banks were allowed to issue their own banknotes. The National Bank of Switzerland was established in 1907 and has been the only bank note and coin issuing institution since 1910
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since March 2010, the Swiss central bank has taken many measures to ease the rise of the Swiss franc, but with little effect. Since July 2011, the Swiss Franc has reached new highs against the euro and the US dollar. On August 3, the Swiss central bank announced emergency measures to intervene in the rise of the franc by cutting interest rates. The market did not immediately respond, the Swiss central bank immediately announced on the 10th to expand the scope of liquidity operations
influenced by the speculation that the Swiss central bank will take more radical measures to curb the appreciation of its currency, the exchange rate of the Swiss franc against the euro and the US dollar once fell, even reaching the highest level against the euro since the establishment of the euro zone in 1999
On the 17th, the expected Swiss cabinet meeting issued an action plan to deal with the rapid appreciation of the Swiss franc, deciding to rece the burden of enterprises through subsidies, tax cuts and other measures, so as to enhance the market competitiveness and anti risk ability of enterprises to tide over the difficulties. Due to the lack of expected severe measures in this plan, the Swiss Franc immediately recovered and resumed its upward trendalthough the previous intervention measures of the Swiss central bank slowed down the rise of the Swiss Franc to a certain extent, it is difficult to say whether it can reverse the rise of the Swiss Franc under the premise of the slow recovery of the world economy. Unless international financial markets return to stability, investors will still hold the franc even in the face of negative interest rates
in addition, as the expectation of the Federal Reserve to adopt new quantitative easing measures heats up, the trend of US dollar depreciation is obvious, which will also weaken the effect of the Swiss central bank's intervention in the appreciation of the Swiss franc. Of course, in the long run, in order to lower the exchange rate of the Swiss franc, the Swiss central bank may directly intervene in the market and sell the Swiss franc, and its last resort may be to introce a minimum exchange rate or link the Swiss Franc to the euro, so as to pave the way for intervention in the foreign exchange market
the globalized market has created the globalized economy and finance. Switzerland has always refused to join the euro area. It has become a synonym for stability and reliability for a long time. But now it is also suffering from the slowdown of world economic growth, and it is difficult to restrain the decline together. From the perspective of global markets, the game over the exchange rate of the Swiss franc is not over