With the strongest trend of blockchain, how far is it from a digital currency that can be used as currency?
Stimulated by the good news, blockchain concept stocks have risen strongly in recent days, becoming the most eye-catching "star" in the A-share market. Digital currency concept stocks related to blockchain even set off a collective daily limit trend. Some people say: Is the spring of the virtual currency circle coming again? is that so?
Blockchain ≠ virtual currency
Since blockchain and Bitcoin often appear together, many people are confused about the difference between the two, and even think that blockchain is Bitcoin.
Shortly after the news came out that China was encouraging the development of blockchain, Bitcoin reversed its decline and once rose by more than 40%. The price once exceeded the $10,000 mark from more than $7,000.
Faced with this situation, many speculators in the currency circle shouted: Another spring in the currency circle is coming.
In fact, blockchain, as a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm, etc., is simply a decentralized distributed ledger database.
Bitcoin is a P2P form of virtual encrypted digital currency. The virtual currency represented by Bitcoin is only a specific application of blockchain technology. In addition, blockchain can also be applied to many fields such as digital finance, Internet of Things, intelligent manufacturing, and supply chain management.
On June 25, 2018, the world’s first blockchain-based e-wallet cross-border remittance service was launched in Hong Kong.Photo by China News Service reporter Xie Guanglei
Blockchain is not being developed to encourage currency speculation.
After the recent popularity of blockchain again, TRON founder Justin Sun, a controversial figure in the currency circle, also joined in the fun. Regarding the future of blockchain, he said on Weibo, “Even on the night when the company was about to collapse, I never doubted it.” We are already prepared for the upcoming (blockchain) preliminaries.
Justin Sun was questioned and hyped when he refused to have lunch with Buffett due to kidney stones. This time, Sun Yuchen was questioned again. Some insiders said: Don't be too happy too early. The state supports technology, not currency. Some people even bluntly said: The first thing the regular army does when entering the mountains is to "suppress bandits."
"The state has always encouraged the development of blockchain technology to improve the efficiency of traditional industries. In the future, this field will continue to be encouraged and face better market prospects. But there is no room for speculation in virtual currencies." President of Suning Financial Research Institute Assistant Xue Hongyan pointed out.
In 2017, officials took action to clean up and rectify ICO and virtual currency trading venues. In February 2019, Fan Yifei, deputy governor of the People's Bank of China, stated that "virtual currency monitoring and supervision will be strengthened in 2019."
"China will not let go of virtual currencies." Xue Hongyan believes that in order to ensure that resources are invested in the development of blockchain technology, more stringent and high-pressure policies may be adopted against virtual currencies to prevent good policy guidance from being biased towards virtual currencies. Predominant.
The top 20 digital currency concept stocks with cumulative gains in the past two trading days.
Why are digital currency concept stocks soaring?
On the 28th, 100 blockchain concept stocks hit their daily limit, and blockchain-related digital currency concept stocks "lived up to expectations." After a rare collective daily limit on the 28th, it continued to lead the stock market higher on the 29th.
Bitcoin, a well-known virtual currency, is also a type of digital currency. Virtual currencies are subject to strict regulation. Why are digital currency concept stocks soaring?
Lu Chengye, president of China Unicom, said that the natural digital expression of data owned by blockchain can be applied to digital assets, national sovereign digital currency and other fields.
In the view of some financial scholars, unlike legal digital currencies, the virtual currencies currently on the market pose challenges to sovereign currencies and the banking system, and are particularly prone to inflation caused by the random issuance of currency.
"Blockchain is the underlying technical foundation of digital currency." Guosen Securities reported that digital currency based on blockchain technology will become the mainstream form of international digital currency due to its high security, fast payment, and mutual trust.
For example, the digital currency currently being studied by the central bank is a new encrypted electronic currency system based on blockchain technology. Yi Gang, governor of the People's Bank of China, said on September 24 that digital currency research has made positive progress and plans to combine the central bank's digital currency with electronic payment tools.
On August 30, the fifth set of RMB in the 2019 edition was newly issued.Photo by China News Service reporter Hou Yu
Are legal digital currencies still far away from us?
According to media reports on October 28, Huang Qifan, deputy director of the China International Economic Exchange Center, said at the first Bund Financial Summit that the People’s Bank of China has been studying digital currency for five or six years and has become mature. The People's Bank of China is likely to become the first central bank in the world to launch a digital currency.
Huang Qifan said that the central bank’s digital currency will adopt a two-level operating system, that is, the central bank will first exchange the digital currency to banks or other financial institutions, and then these institutions will exchange it to the public.
According to Yi Gang’s previous introduction, “The central bank’s digital currency will continue to conduct a series of research, testing, piloting, evaluation and risk prevention. In particular, if digital currency is used cross-border, it will also involve anti-money laundering, anti-terrorist financing, anti-tax havens and 'Know your customer' and other regulatory requirements."
Xue Hongyan believes that there are positive voices in the market for central bank digital currencies, and there should not be too many difficulties and obstacles during the pilot process. However, for virtual currencies issued on the market, the policy level is expected to continue to face strict supervision, and it is unlikely that the previous investment boom will occur again. (Exceed)
标签： #Currency #Block #Digital #Virtual #Central Bank
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