What is the basis of issuing virtual currency

1.

virtual currency is the currency used for electronic circulation. Now the scope of virtual currency is very large, including q-coin, bitcoin and so on. With the development of digital currency, virtual currency is becoming more and more abundant, which may become the mainstream in the future. For example, BTC, EOS, bcbot and so on are not only virtual currencies, but also algorithms, landing projects and technologies

virtual currency is mainly issued by online game service providers to purchase game props, such as equipment, clothing, etc. But at present, the use of virtual currency has gone far beyond this category. Virtual currency can be used to buy game cards, physical objects and download services of some movies and software

extended data:

real risk

as the proct of e-commerce, virtual currency has begun to play an increasingly important role, and it is more and more connected with the real world. However, with the growth of virtual currency, the relevant laws and regulations are lagging behind, which has laid many hidden dangers

fraud

the private transaction of online virtual currency has realized the two-way circulation between virtual currency and RMB to a certain extent. The activity of these traders is to buy all kinds of virtual currencies and procts at a low price, and then sell them at a high price to earn profits. With the increase of such transactions, there are even virtual mints. In addition to the virtual currency provided by the main company, there are also some people who specialize in "virtual coin making" to obtain virtual currency by playing games and then resell it to other players

Taking Wenzhou as an example, there are about seven or eight such "virtual mints" with four or five hundred practitioners. This not only creates a bubble for the price of the virtual currency itself, but also causes trouble for the normal sale of the issuing company. It also provides a platform for selling and collecting money and money laundering for various cyber crimes. p>

impact system

in modern financial system, the issuers of money are generally central banks, which are responsible for the management and supervision of money operation. As the equivalent exchange goods used to replace the real currency circulation on the Internet, the virtual currency on the Internet is essentially the same as the real currency. The difference is that the issuers are no longer central banks, but Internet companies

if the development of virtual currency makes it form a unified market, each company can exchange with each other, or virtual currency is integrated and unified, and all of them are based on the same standard and price, then in a sense, virtual currency is currency, which is likely to form a threat impact on the traditional financial system or economic operation

reference: network virtual currency

2.

According to its nature, currency issue can be divided into economic issue and financial issue. No matter what kind of issuance, it should be realized through the bank's cash revenue and expenditure channels. Among them, the main channels of cash delivery are: personal wages, bonuses and other cash payments; Cash expenditure of administrative enterprise management fee; Urban and rural residents' savings deposits, cash expenditure, etc

The main channels of cash return are: cash income from commodity sales; Cash income from various service charges; Cash income from savings deposits of urban and rural residents; Levy taxes on indivials, cash income, etc. According to the calculation, the difference between the bank's cash expenditure and its income is the amount of money issued

(1) put forward the issuance plan of RMB and determine the annual money supply. Every year, the head office of the people's Bank of China puts forward a plan for currency issuance and withdrawal in accordance with the state's economic and social development plan, which shall be submitted to the State Council for approval before implementation. Including the design, printing and reserve of tickets and coins

(2) the money supply plan approved by the State Council and approved by the people's Bank of China

(3) allocate the issuing funds. The issuing fund is the currency to be issued kept by the central bank for the state. It is a reserve fund for currency issuance. It does not have the nature of currency. It is kept by the people's banks at all levels that set up the issuance Treasury. The head office is in charge of it. The right to use the issuance fund belongs to the general Treasury

3.

1. It is the fundamental requirement of the law of money circulation that the amount of money circulation accords with the flow of social goods

Therefore, the people's Bank of China (PBOC), as the main body of money issuance, issues money based on the total social procts and their increments

The theoretical basis is Marx's Currency Circulation Formula: total commodity price / circulation times of the currency of the same name = the amount of currency used in circulation

According to its nature, currency issue can be divided into economic issue and financial issue. Economic issue is the currency issued to meet the needs of commodity circulation. This issue is in line with the law of currency circulation

Therefore, it can not only meet the needs of the national economy, but also keep the currency stable. Fiscal issue is the currency issued to make up the fiscal deficit (see fiscal revenue and expenditure). This kind of issuance exceeds the actual needs of commodity circulation and often leads to inflation

4. Issuing digital currency can rece the high cost of issuing and circulating traditional banknotes, improve the convenience and transparency of economic transactions, rece money laundering, tax evasion and other illegal and criminal acts, enhance the central bank's control over money supply and currency circulation, better support economic and social development, and help the comprehensive realization of inclusive finance. In the future, the establishment of digital currency issuance and circulation system will also help China build a new financial infrastructure, further improve China's payment system, enhance the efficiency of payment and clearing, and promote the upgrading of economic quality and efficiency.

5. It is not allowed in China. Let me take Singapore as an example. It is also the common choice of instry leaders. At present, it is one of the most suitable countries for blockchain projects under comprehensive conditions
first of all, there must be a subject of the project - the Singapore public non-profit foundation (note that it can be compliant), including the white paper and relevant legal opinions, which are written around this subject
I don't need to say more about the white paper. Your own affairs should be clearer than mine
let me tell you in detail about the legal opinions. It is not a single lawyer's document. Taking the blockchain project as an example, if you want to comply with ICO and issue it on the exchange, you need the following types of legal opinions:
1.
legal opinions of token non securities nature certificate issued by legal opinion in accordance with Singapore regulatory regulations. In this way, the relevant securities laws and regulations, etc., will not interfere with you<
2.
2. The white paper legal compliance lawyer's opinion proves that the project is legal and compliant and does not touch or violate any existing Singapore regulatory regulations. This item is written according to your white paper, and the complexity is also determined by your white paper. Even if the lawyer thinks that it is necessary, some modifications will be made
3. The private placement terms issued by PURCHASEAGREEMENT in accordance with Singapore regulations for the project to raise funds by issuing tokens
4. Singapore law sponsored terms.conditions for public issues token public offering terms, website publicity and disclaimer in accordance with Singapore regulatory regulations
I don't need to explain the last two items. Private placement and public offering depend on your personal situation. With the relevant legal opinions, it will be more convincing to your investors. Everything you do is legal and compliant. In addition, after reporting, we are not afraid of MAS to check you. Of course, the most important point is that we can go to the mainstream exchanges
among them, the packaging and promotion of tokens, and the exchanges you go to, are the places that reflect the strength of your currency. The fees for necessary documents mentioned above are not worth mentioning.

6. Virtual currency can be divided into game currency and network token
game currency is mainly circulated by game companies and professional gamers through online tasks and ground sales
network token: it is a kind of virtual currency equivalent to normal currency that can circulate on the network. Such as the common Q coin. This is mainly to facilitate users in a variety of consumer activities on the network. In the early stage, free quantitative distribution is used to guide consumers to a virtual consumption habit. In the later stage, special sales channels are set up.

7.

The essence of money is the general equivalent. In the process of the continuous development and evolution of human history, it has gone through the stage of physical money, the stage of substitute money, and then entered the stage of credit money. In primitive society, people exchanged livestock, salt, shells and other hard to get goods as general equivalents

in the long history, the emergence of metal currency makes the economic life achieve unprecedented prosperity. However, e to the inconvenience of carrying metal money, paper money became the mainstream form of money. With the rapid development of modern information technology, e-money has come into our life

if the evolution process from physical money to value symbol paper money is the first qualitative leap in the history of money development, then the evolution process from paper money to electronic money is the second qualitative leap in the history of money development

from the perspective of money form, physical money itself is a commodity in addition to performing monetary functions; Paper money is a symbolic tool of value for commodity exchange and a credit currency; Electronic currency is the proct of highly developed Internet economy and continuous progress of bank payment and settlement technology. It not only has the function of traditional currency, but also can continuously improve digital currency

At the same time, the virtual money market based on electronic information is also booming. By the end of 2014, the number of Internet users in China had reached 632 million, including 517 million registered users in the online game market and 114.48 billion yuan of sales revenue, an actual increase of 37.7% over the previous year

a huge virtual space based on the Internet has been formally formed. As a kind of virtual currency with intrinsic value, convenient online trading behavior, low transaction cost, and service providers' issuance, it emerges as the times require

first of all, from the functional analysis. Virtual currency is a kind of transaction medium in the Internet virtual space, which has the function of value scale, but the value scale of virtual currency is different from that of legal currency

using virtual currency to purchase virtual procts and services can only be within the scope specified and allowed by the issuer of virtual currency (Internet operator), and the size of this scope depends on the number of virtual procts and services. If the virtual procts and services provided by the website are large enough, the scope of virtual currency will be large

the currency value of virtual currency depends on the pricing of virtual currency by issuers. When no currency can communicate between virtual cyberspace and reality, the pricing of procts and services is still based on real RMB. That is to say, when issuers of virtual currency price their own virtual currency, they should first convert the price of virtual currency based on RMB

8. Multi currency function: the current currency and account are strongly related, so if there are multi currency accounts, you need to create accounts with different names, such as RMB cash, and the currency is set to RMB. US dollar cash, currency set to us dollar
then, when bookkeeping, adjust the local currency to the current common currency, and select the corresponding account when recording revenue and expenditure. You can query details and reports by selecting currency conditions
the specific rich owners can go to the dig money forum to have a look at the dig money section. The rich owners of dig money all communicate with each other on how to use dig money to keep accounts

9. The following points should be paid attention to when issuing virtual currency:
1. This kind of currency should have a good application scenario planning
2. The source code is open and has its own wallet
3. There is a trading platform
the current digital money market is a mixture of fish and water, which is uneven. It is suggested that we should pay more attention to bitcoin, Ruitai, Laite and other mainstream digital currencies.

10. The only way for money to enter the market is to borrow. Money is debt. For example, if the state wants to issue 1 billion yuan of currency, it will write 1 billion yuan on a piece of paper and stamp it with a very official seal, which is called treasury bonds, and then send it to the central bank; The central bank prints out a batch of its own paper, called XX bill. The central bank takes this bill to buy treasury bonds. In this way, it can get the 1 billion XX bill, deposit it in the bank, and then deposit it into the bank. These bills will become the currency of legal repayment. A bond is a debt. Once someone takes money (a signed list or something) to buy it, the money will be generated. Where does the value of the new currency come from? Who gives the value of the new currency? It is by stealing the value of previously issued currencies, which is the so-called currency devaluation. Since 30 years of reform and opening up, according to the variable price ratio, the RMB has depreciated more than 100 times. Every bill in our wallet is made out of debt, owed by someone. Money can only be obtained from the bank, and every banknote returned to the bank carries interest, but where does the money representing the interest come from? No, he doesn't exist! In addition, the amount of money in banks always exceeds the amount of money in circulation, which is why inflation and currency devaluation are inevitable (^_^ Capitalism is self subverting, because it always needs to issue new banknotes to supplement the long-term inherent shortage of banknotes generated by interest repayment in the whole monetary system
money can be generated by borrowing money out of nothing. For example, the general state stipulates that banks have reserve ratio, which is to prevent runs, and others can be lent out, such as 10%, 900 million of them can be issued as loans. In fact, the 900 million yuan note loan did not come from the 10 yuan note issued. It was made out of nothing. The bank only increases the account balance of both parties through bookkeeping. While granting loans, 900 million more deposits were added. Of course, 90% of the 900 million yuan deposit can be used as a deposit reserve loan, which can lend 810 million yuan. Of course, the 810 million yuan loan will increase 810 million yuan deposit, and 90% of the 810 million yuan deposit can be lent out. In this way, every one billion yuan of treasury bonds issued can generate up to 10 billion yuan of new currency
in my opinion, I'm sorry that our country has set up the monetary system of capitalist private banks