The influence of virtual currency on E-commerce

6. The rapid development of e-commerce has had a profound impact on the financial instry, and the traditional business model can not meet the needs. In order to survive and gain competitive advantage in the future network economic environment, the banking instry makes great efforts to invest in information technology and launch its own internet financial services. The development of Internet banking has brought great changes to the traditional business model and service mode of commercial banks, which requires banks to make strategic adjustments to the internal management and operation mechanism. At the same time, banks can provide customized services according to the needs of customers. In the past, the service supply system centered on banks is changing into the service demand system centered on customers, which is a fundamental change in the business philosophy of banks. The improvement of online payment ability of banks will also promote the further development of e-commerce

online payment is an important part of e-commerce and the development and innovation of traditional payment system. The purpose of traditional payment reform is to rece bank costs, speed up processing speed, facilitate customers, rece fraud, etc., while online payment innovation has changed the way of payment processing, so that consumers can obtain bank payment services at any place and at any time through the Internet, without having to go to the bank's traditional business counter

the incompatible online payment mechanism will undoubtedly hinder the healthy development of e-commerce. Therefore, the innovation of payment methods must rely on the support of the central bank. On the other hand, the security of online payment will inevitably affect the traditional payment system. As the central bank, the people's Bank of China has the function of maintaining the normal operation of the payment and clearing system. At present, the development of e-commerce in China is in the initial stage. In order to prevent payment risks and ensure bank security, it is necessary for the financial system to establish a security authentication system for online payment and clearing services in the instry, so as to ensure the healthy development of online payment system and online banking

with the wide application of security technology and authentication mechanism, the development of Internet financial services undoubtedly brings new issues to the central bank supervision and financial legislation. The old regulatory methods and proceres are no longer applicable to the new financial business, and the current financial legislation also hinders or restricts the development of the new business. With the change of business model and internal management mechanism of commercial banks, the supervision mode of central bank will also change

the central bank must think strategically about the wide application of leading technology in the financial instry, encourage innovation and avoid restrictive policies or legislation. The people's Bank of China supports and promotes the development of e-commerce in China, actively supports domestic commercial banks to carry out Internet financial services, and encourages some banks to carry out pilot work. At the same time, in order to ensure the safety of banks and actively prevent new forms of financial risks, the people's Bank of China advocates more strict, scientific and targeted supervision on Internet financial services< Since the beginning of 1998, the people's Bank of China has paid attention to e-commerce related work. We realize that the development of e-commerce depends on the following supporting environment: developed network communication facilities, including the establishment of relevant standards and norms; The establishment of rules, including the formulation or modification of relevant laws, regulations and rules; The establishment or security guarantee of network trust relationship is to establish a secure authentication system; The traditional payment system has strong backstage support to meet the needs of e-commerce online payment; Real real demand to create the required profits

in recent years, great progress has been made in the construction of China's modern payment system, which provides the necessary support for the development of China's e-commerce. However, compared with the payment system of western developed countries, there is still a big gap in China's payment system, and the ability to provide backstage support for online payment needs to be further improved. At the same time, China's communication facilities are still improving, the relevant laws and regulations are not perfect, the lack of social credit has greatly weakened the effectiveness of relying on technical means to establish trust relationship in the network environment, and the degree of instrialization is very unbalanced, which are the key factors restricting the development of e-commerce in China

based on the above understanding, we have maintained a clear mind in carrying out e-commerce related work, adopted a prudent, prudent and scientific attitude, and adhered to the principle of "strengthening research, overall planning, actively promoting and doing well the pilot project"

1. Actively participate in the construction of "capital e-commerce project" and undertake the construction of financial Ca and payment gateway< In June 1998, the people's Bank of China, instrial and Commercial Bank of China and Bank of China participated in the construction of the capital e-commerce project led by Beijing municipal government. As the e-commerce pilot project of the bank, the people's Bank of China sent people to participate in the work of the project leading group, the project overall group and the project promotion group, and took the lead in the construction of financial Ca and payment gateway. After nearly two years of hard work, "capital e-commerce project" has made substantial progress

2. Jointly build financial CA to promote the development of financial certification system

in order to create a good environment for fair competition and save investment for all commercial banks, through negotiation, the people's Bank of China, ICBC and other 13 commercial banks jointly build the financial Ca, and the bank card center is temporarily responsible for the construction and operation

financial CA includes two systems: set Ca and non set ca. set CA adopts the set protocol launched by visa / MasterCard, which mainly serves for bank card payment on the Internet. Our consideration of the security of online payment is the first. Although set is more complex to use, considering that the social credit in our country is still relatively low, we can only rely more on technical means to ensure the security of online payment, so we think it is very necessary to build set ca. Non set CA is mainly based on the public key architecture (PKI) framework of enter company, which is also a popular CA model in the world< In early 1999, the financial CA project was officially launched. At present, the financial CA has successfully issued the certificate and is expected to be put into trial operation at the end of June

we also actively support the joint construction of payment gateway. According to the needs, commercial banks can also build their own payment gateway. In the future development of e-commerce, we will continue to sum up our experience and actively explore a way to develop e-commerce in line with China's national conditions< 3. Establish e-commerce research group to study the role of central bank< In July 1998, the people's Bank of China set up an e-commerce research group to systematically study the positive role and countermeasures that the central bank should play in e-commerce security authentication, online payment and related legislation. The research results of the group provide strong support for the relevant work of the people's Bank of China< 4. Set up "financial system e-commerce liaison and research group" to strengthen communication with commercial banks< In October 1998, the people's Bank of China, instrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, Bank of China, etc China Construction Bank and China Merchants Bank jointly set up the "e-commerce liaison and research group of financial system". The group made a lot of preparatory work for the construction of financial Ca, and timely communicated the ideas and suggestions of all walks of life on major issues

5. Strengthen exchanges and cooperation with relevant domestic departments and units

in the past two years, while actively carrying out e-commerce related work, the people's Bank of China has also attached great importance to exchanges and cooperation with relevant domestic departments and units, learning from their advanced experience and listening to their opinions and suggestions< In April this year, the people's Bank of China and Beijing Municipal Government jointly held the "Mitsubishi Bank: the application and development seminar of IT strategy in the financial instry". We have also actively participated in e-commerce seminars organized by the Ministry of information instry, the Ministry of foreign trade and economic cooperation, the Ministry of science and technology, the encryption Commission and other departments. In addition, we have discussed and exchanged with the Chinese Academy of Sciences, the Chinese Academy of Social Sciences, the Information Technology Research Institute of Shandong University, the Information Security Research Institute of Sichuan United University and other research institutions, as well as the national information security evaluation and certification center of China on the development of e-commerce<

strict supervision to explore the future

at present, we are doing some work as follows:

1. Strengthen the planning and management of the financial certification system, and graally establish the management system of the financial certification system

a secure financial authentication system is the most important foundation of Internet financial services, which is related to the security of bank payment system and bank itself. Therefore, the people's Bank of China has the responsibility to strictly supervise the financial certification system

the financial CA will be put into trial operation at the end of June, and some in-house CAS built by commercial banks have been put into use or will soon be put into use. How to regulate the future development of the financial certification system and how to supervise the financial certification system as soon as possible is a major task in front of us< At present, we plan to set up a "financial certification strategy management committee" and set up an office under the people's Bank of China to strengthen the planning and management of the financial certification system< 2. Set up "Research Group on Internet banking" to strengthen the research on the approval, inspection and supervision proceres of Internet banking, and implement the supervision of Internet banking as soon as possible

since March 1998, the Bank of China took the lead in opening online banking service in China, China Construction Bank, China Merchants Bank and instrial and Commercial Bank of China have also launched their own online banking. Internet banking can rece the operating cost, improve the service quality and enhance the competitiveness of banks. At the same time, it also causes great risk exposure to banks. Therefore, commercial banks must formulate effective risk management measures for their internet financial services. How to implement practical and scientific supervision of Internet financial services is another major task for the people's Bank of China< At the beginning of this year, the people's Bank of China, together with instrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank and China Merchants Bank, set up an "online banking research group" to conct systematic research on the development of online banking, the security system of online banking, the risks and prevention of online banking, and the supervision of online banking, At the same time, it puts forward some constructive suggestions for the construction and development of Internet banking in China

3. Set up "online payment research group" to discuss the future development of online payment in China and strengthen the management of online payment

in recent years, with the rapid development of e-commerce in China, some commercial banks have developed their own online payment systems and established intra-bank payment gateway to provide online payment services to customers. Online payment brings new potential risks to the payment system and even the whole banking system. If it is not solved properly, it will threaten the stable operation of China's financial system. Therefore, we will manage the construction of online payment and storage system as soon as possible, actively prevent and defuse potential risks, and promote the standardization and implementation of online payment system

7. The role of Internet Finance in e-commerce:
(1) the planning and development strategy of financial institutions and systems in the information age. E-commerce requires payment and settlement on the Internet. Therefore, only by setting up banks on the Internet can banks better meet the needs of e-commerce development. At the same time, only by setting up online securities trading business can stock exchanges and securities companies effectively occupy the market. Only by setting up insurance sales on the Internet can insurance companies rece costs and expand the market, In the fierce competition to obtain a dominant position< (2) the issue and management of electronic currency. E-commerce is carried out in virtual cyberspace. It is impossible to settle in cash. It can only be paid with e-money such as credit card, smart credit card, digital currency and network currency. Internationally, non-financial institutions also issue e-money and settle accounts. For example, e-wallets issued by visa and MasterCard International credit card organizations can also be paid on the Internet, In this way, who will issue e-money and manage it involves whether the settlement of e-commerce can be completed smoothly
(3) the supervision of new financial institutions and their business and financial service information by financial regulatory authorities Article 2 of the law of the people's Bank of China stipulates: "under the leadership of the State Council, the people's Bank of China shall formulate and implement monetary policies and supervise and manage the financial instry." The law also stipulates that the CSRC shall supervise and manage the securities instry. Because e-commerce is not limited by time and space, it can continue to operate 24 hours, and the financial institutions set up on the Internet can also operate transactions 24 hours. At the same time, the authenticity and integrity of online financial information are also related to the legitimacy and authenticity of transactions. For example, if online banking is set up separately, how to collect reserves will arise, All of these involve how the financial supervision department set up the online supervision organization and make it run well< (4) the transformation of traditional business and the construction of network system, the transformation of original system and the unification of standards. The traditional financial institutions and businesses based on atom can't meet the needs of business development based on e-commerce and financial electronization, which inevitably requires financial institutions to rece the establishment of branches and savings offices and staff to rece costs, increase the business volume of online financial institutions, and transform traditional manual operations into financial electronization. This also requires financial institutions to increase investment in information infrastructure and transform and upgrade the original system. At the same time, in order to achieve the final completion of payment and settlement of e-commerce on the Internet, in addition to digital signature through the certification center to ensure the authenticity and legitimacy of e-contracts, a payment gateway with high security is also required, This involves how to unify the standards of Ca payment gateway and how to set up the root ca
the rapid development of e-commerce has had a profound impact on the financial instry, and the traditional business model has been unable to meet the needs. In order to survive and gain competitive advantage in the future network economic environment, the banking instry makes great efforts to invest in information technology and launch its own internet financial services. The development of Internet banking has brought great changes to the traditional business model and service mode of commercial banks, which requires banks to make strategic adjustments to the internal management and operation mechanism. At the same time, banks can provide customized services according to the needs of customers. In the past, the service supply system centered on banks is changing into the service demand system centered on customers, which is a fundamental change in the business philosophy of banks. The improvement of online payment ability of banks will also promote the further development of e-commerce
online payment is an important part of e-commerce and the development and innovation of traditional payment system. The purpose of traditional payment reform is to rece bank costs, speed up processing speed, facilitate customers, rece fraud, etc., while online payment innovation has changed the way of payment processing, so that consumers can obtain bank payment services at any place and at any time through the Internet, without having to go to the bank's traditional business counter
the incompatible online payment mechanism will undoubtedly hinder the healthy development of e-commerce. Therefore, the innovation of payment methods must rely on the support of the central bank. On the other hand, the security of online payment will inevitably affect the traditional payment system. As the central bank, the people's Bank of China has the function of maintaining the normal operation of the payment and clearing system. At present, the development of e-commerce in China is in the initial stage. In order to prevent payment risks and ensure bank security, it is necessary for the financial system to establish a security authentication system for online payment and clearing services in the instry, so as to ensure the healthy development of online payment system and online banking.

8. 1、 The impact of e-commerce on traditional trade
e-commerce integrates the transmission modes of logistics, capital flow and information flow in traditional business activities by using network technology, and enterprises directly connect important information with customers, employees, distributors and suppliers distributed all over the world through WWW, intranet or extranet, Create more competitive business advantages< Second, the impact of e-commerce on the financial instry. Considering all factors, the operating cost of online banking is far lower than that of traditional banking. The client of online banking uses the public browser software, which does not need the bank to maintain and upgrade. This can greatly save the bank's customer maintenance costs, and make the bank concentrate on the development of service content. Because customers use the public Internet network resources, the bank avoids the cost and maintenance costs of establishing a dedicated customer network. As long as customers can access to the Internet, they can use banking services, and truly realize the customer service across geographical and time constraints. Internet financial services also break the geographical restrictions of the traditional financial instry, and can provide financial services on a global scale< Third, the impact of e-commerce on the securities instry
online securities trading is one of the information services that the Internet can provide, and it is also one of the most successful examples of Internet applications. Securities e-commerce (SEC) penetrates electronic means into all aspects of securities activities, such as information collection, release, rumor, retrieval, trading, currency payment, clearing, delivery and so on. Theoretically, it can rece the links in the "supply chain" from investors to exchanges and clearing centers, which may rece the cost of securities trading Accelerate the use of funds and the transmission of information, so the securities e-commerce based on the Internet platform will have better advantages than the traditional securities trading< br />

9. The development of e-commerce requires the smooth flow of information, capital and logistics to ensure the speed of transactions. In e-commerce transactions, if you rely on traditional payment methods, such as cash, checks, it is impossible to complete online real-time payment. The so-called "real-time" means that when consumers click the "payment" button on the browser, the whole transaction has been executed and completed. Traditional payment methods usually require consumers to leave the online platform and pay by phone or mail. Bank transfer also has a certain processing delay, and is prone to fraud, because consumers can not know whether online stores are real or fictitious companies. It can be seen that without proper means of payment, the development of e-commerce can only be on paper, which can not reflect the advantages of e-commerce, such as convenience and low cost. In this case, online e-payment emerges as the times require, which is the basic condition for the smooth development of e-commerce.

10.

The development of e-commerce can be said to conform to the development of the times.

the impact of the development of e-commerce on the economy:

1. The combination of e-commerce and Trade: before, if people wanted to understand the procts or economy of other countries, they used more outdated methods. The emergence of e-commerce made the global procts and culture blend with each other Collision

2. Change the mode of goods: before, if you want to shop, you usually do it through physical stores. The emergence of E-commerce makes the network develop rapidly. The rise of online stores has changed people's way of shopping and accelerated the operation of the economy. It is a new business operation mode to realize consumers' online shopping, online transactions and online electronic payment among merchants, as well as various business activities, trading activities, financial activities and related comprehensive service activities

It reces the cost, improves the economic efficiency and promotes the market change········