Monetary function of virtual currency
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.
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.
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
first, we need to clarify the concept, definition, classification, functions and characteristics of digital currency, put forward the Chinese definition of digital currency, distinguish the similarities and differences and relations between legal digital currency and private digital currency in technical characteristics, economic characteristics and institutional arrangements, and discuss the process of digital currency performing monetary functions, And how to meet the requirements of a high-quality monetary system
Second, we need to conct in-depth research on the operation of digital currency, and explore the issuance, circulation, transaction and withdrawal mechanism of digital currency based on the al system of central bank and commercial bank. On this basis, the selection of technical route and key technology to meet its operation mechanism is discussed, and the key technology research and breakthrough are carried out
thirdly, we should study the effect and influence of digital currency on monetary and financial operation system
fourthly, based on the above research results, the scientific top-level design of digital currency supervision is formed, including the development and design of digital currency, the development of applicable regulatory coordination tools, and the selection of appropriate regulatory indicators
more importantly, the digital currency that the central bank plans to issue is different from bitcoin, Leyte, dogcoin, decent and other digital currencies.
The essence of money is reflected in the function of money. The so-called function of money refers to its role in social and economic life
Under the condition of market economy, money has five functions: value scale, medium of exchange, means of storage, means of payment and world currencyamong them, value scale and exchange medium are the basic functions of money, and means of storage, means of payment and world money are the additional functions derived from their basic functions
Value scale the first basic function of money is to act as the value scale of goodsas the standard of value measurement, the unit price of money is the measure to measure the value of all exchangeable goods. As the measure of value, money can convert all valuable goods into monetary units for calculation
just as the ruler for measuring length has length and the weight for weighing things has weight, the currency for measuring the value of goods is also a commodity and has value
what has no value can not be used as a measure of value
When performing the function of value measurement, money does not need real money, it only needs to show the value of goods with conceptual money, and price is the monetary expression of the value of goods Therefore, value is the basis of price, and price is the monetary expression of value Exchange media is also one of the basic functions of money, also known as the means of currency circulation Different from the value scale, the currency as the medium of exchange can not be the currency in concept, but the currency in reality The function of money as the medium of commodity exchange divides the barter exchange into two kinds: the first step is to change goods into money, and the second step is to change money into goods The transaction with money as the medium of exchange greatly reces the transaction cost and promotes the development of market and division of labor Storage means means that money is no longer circulating in society for various reasons, but is preserved as an independent form of value and social wealth As a means of storage, money develops with the development of commodity proction and circulationin the early stage of commodity circulation, some people changed surplus procts into money for preservation. This behavior of storing gold and silver is regarded as a manifestation of wealth and a simple form of money storage
with the expansion of commodity circulation, the function of money is increasing day by day, all goods can be bought and sold with money, and money exchange extends to all fields
in the modern credit monetary system, people holding money as a means of storage will be affected by inflation risk
relatively speaking, precious metal currency has a greater advantage in maintaining purchasing power
When performing the function of storage means, money has the following two remarkable characteristics: (1) it must be realistic and valuable (2) as a means of storage, money must exit from circulation and be in a static stateas a means of storage, money can spontaneously regulate the amount of money circulation and play a role of reservoir
when the circulation of goods in the market shrinks and there is too much money in circulation, some money will withdraw from the circulation field and be stored; When the circulation of goods in the market expands and the demand for money increases, some of the stored money will re-enter the circulation field
Means of paymentas an independent form of exchange value, money plays the role of means of payment when it transfers unilaterally
The so-called unilateral transfer refers to the time gap between the occurrence of economic behavior and monetary payment As a means of payment, money originated from credit trading in commodity trading There are two forms of credit transaction: credit sale and payment in advance; The latter is that the payment for goods comes first and the sale of goods comes second But no matter which form, it is the separation of the transfer of goods and the payment of money in timewhen the commodity economy develops to a certain extent, the function of monetary means of payment will expand beyond the field of commodity circulation, which is used to pay taxes, rents, wages, services, etc
5. World currency
world currency refers to the function that money performs the general equivalent in the world market
Due to the occurrence and development of international trade, money circulation goes beyond the scope of a country and plays a role in the world market, so money has the function of world currencythe world currency used to be made up of gold and silver for a long time. Since the mid-1970s, e to the non cash credit currency system adopted by all countries in the world, the currencies of some countries with strong comprehensive national strength have been recognized by most countries. The currencies of these countries play the role of world currencies in the international market, such as US dollar, pound sterling, etc
At present, the main function of the world currency is to balance the balance of payments as a means of international payment