Virtual currency financial system

Publish: 2021-04-27 23:04:02

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

China does not have the first legal virtual currency. At the end of 2013, the central bank and other five ministries and commissions issued the bitcoin risk notice, which clearly defined bitcoin as a special Internet commodity, and the public can buy and sell it freely on the premise of taking their own risks

other digital confidential currencies are also suitable, such as Laite coin, the ancestor of Shanzhai coin, Fuyuan coin for business points in jewelry instry, dog coin for small reward, etc. But although virtual currency exists legally in our country, it is illegal to cheat under the guise of virtual currency

extended data

fraud

the private transactions of online virtual currency have 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. Take 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

network problems

in addition to direct cash, virtual currency can also be purchased by SMS, internet transfer and fixed telephone recharge. These ways of purchase not only provide convenience for users, but also have many risks

such as embezzlement of telephone recharge and purchase by minors. In addition, virtual currency does not have the anti-counterfeiting technology of real currency. Computer hackers may use its security loopholes to proce counterfeit currency. Relevant personnel of the State Administration for Instry and Commerce said that virtual currency transaction is a business behavior derived from the Internet era, and there are no clear legal provisions to regulate it, and there are no items related to virtual goods transaction in the scope of instrial and commercial registration

but when the virtual property transaction graally employs people, places are fixed, transaction profits are clear, and has the nature of operation, it may involve market order and tax issues. Even game operators have no ability to control. There are a large number of "counterfeit banknote makers" in the network. Take the winger who is mainly engaged in chess and card online games as an example, the purchasing power of his online currency has shrunk by nearly 40% in one year. Many people point out that such inflation will only damage netizens and make them lose confidence in the Internet

reference source : network virtual currency

What is virtual currency? What is virtual currency? There are 6 answers with rewards.
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virtual currency refers to non real currency. Well known virtual currencies, such as online currency of Internet company, q-coin of Tencent company, q-point and voucher of Shanda company, micro currency launched by Sina (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver grain (used for bixue Qingtian game), and popular digital currencies in 2013 include bitcoin, Laite coin, infinite coin, quark coin, zeta coin, etc Barbecue coins, pennies (Internet), invisible gold bars, red coins, prime coins. At present, hundreds of digital currencies are issued all over the world. Popular in the circle & quot; The legend of "bitcoin, Wright silver, infinite copper, pennies aluminum". 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, has no legal compensation and mandatory monetary attributes, and is not a real currency

4. There are two sides to everything. To come up with something new and to have an impact and impact on old things, there must be its unique advantages. The choice of market freedom is like the birth of Alipay. If there are not some things to be done, banks may be closed. Of course, the benefits and harms are inseparable and relative, so we need to comprehensively measure them. From the overall macro perspective, whether the harm to our Chinese nation is greater than the benefit or the advantage is greater than the disadvantage, we need not worry about this. The country has a powerful think tank to make suggestions, Just follow the pace of the party and the state.

5. Special currency has four main characteristics: no centralized issuers, limited amount, no geographical restrictions and anonymity. Although some people call bitcoin "currency", it is not a real currency because it is not issued by the monetary authority and has no monetary attributes such as legal compensation and compulsion. In terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market.

6. The following is the full text of Caixin's dialogue with Zhou Xiaochuan on digital currency:

7. Regulators talk about the supervision of virtual currency again. Why should virtual currency be supervised< p> Recently, the regulatory authorities reiterated their views on virtual currency, and then strengthened the supervision of virtual currency. This argument has attracted a lot of people's attention on the Internet. For a long time, virtual currency has been repeatedly banned on the Internet, which has caused many governments to have a headache. For example, bitcoin, which has been popular on the Internet before, has been admired by many people, and many people spend their time on it; Mining & quot; In recent years, the infatuation for bitcoin has reached a fanatical level. Recently, I believe many people have heard of dogcoin. As a similar proct of blockchain, dogcoin is a kind of virtual currency like bitcoin, which has set off a huge wave for people's social life

In addition, virtual currency has led many people to inlge in it and reced their enthusiasm for life. Therefore, many people waste their time and it is very unwise to waste their time in this kind of virtual data. Therefore, we should spontaneously boycott the virtual currency and contribute to the maintenance of the world monetary system

8. The international monetary and financial system consists of international monetary system, international financial organization system and international financial supervision system. The current international monetary and financial system is mainly reflected in the following aspects: first, the monopoly and hegemony of the US dollar in the current international monetary system. When the Bretton Woods system was first established, the economic strength of the United States, whether measured by GDP, import and export trade or gold (207,0.88,0.43%) reserves, was in an absolute monopoly position in the world, thus establishing the monopoly and hegemony of the US dollar in the international monetary system. However, after more than 60 years of development, the proportion of U.S. real economy in the world has decreased significantly, but the U.S. dollar still occupies a monopoly and hegemony position in the international monetary system. This monopolistic and hegemonic position makes the tightening of global liquidity basically controlled by the Federal Reserve. In the world's major central banks, the goal of monetary policy is mostly single, that is, price stability, while the Federal Reserve still implements a multi-objective system, including economic growth, full employment and price stability. Historically, economic growth has inherent cyclical characteristics, and the monetary policy of the Federal Reserve is also periodically relaxed and tightened, leading to the periodic depreciation and appreciation of the US dollar. In each round of the rise and fall of the US dollar cycle, there will always be a financial crisis, big or small. And the solution of the crisis is inseparable from the beginning of figurines. In this financial crisis, the Federal Reserve provided a large amount of US dollar liquidity to 13 central banks around the world through bilateral currency swap agreements, playing the role of global lender of last resort and becoming the Central Bank of central banks of all countries. Second, the current international monetary and financial organization system is dominated by a small number of countries (G7 countries), which is not commensurate with the current status of countries in the world economy, and lacks the check and balance mechanism for the behavior of reserve currency issuing countries, resulting in the decision-making of the current international financial organization is difficult to reflect the interests of most members. Taking the IMF as an example, its problems mainly include: first, the independence and authority of decision-making are challenged, which restricts its effective role. Second, too much emphasis is put on the supervision of developing countries and emerging market countries, while the supervision of important developed countries is lack of effectiveness, so it is unable to carry out timely warning and effective response to systemic risks. This kind of discriminatory supervision also leads to a certain degree of antagonism between the IMF and a few member states. Third, because its decision-making is controlled by a small number of big countries and lacks the necessary resources and financing means, it can not play the role of international lender of last resort, which makes the international monetary and financial system lack the final guarantee - the global lender of last resort. Third, there is a serious lack of international financial supervision system, and the contradiction between the globalization of financial institutions' business activities and the nationalization of financial supervision is becoming increasingly acute. On the one hand, financial globalization, liberalization and mixed operation objectively need a unified global regulatory standard and regulatory agencies to prevent regulatory arbitrage. On the other hand, the financial instry has always been regarded as the lifeblood of a country's economy, and the power of financial supervision is an integral part of the national economy and financial sovereignty. Therefore, in reality, the supervision of the financial instry is carried out by the home country's independent supervision, and an effective international financial supervision system has not yet been established. The existing international financial regulatory organizations and forums have some insurmountable defects and can not take on the responsibility of global regulators.

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