Nick Saab talks about bitcoin cash

1.

The digital currency of the central bank is DCEP

the name of the digital currency developed by the central bank is DCEP (digital currency electronic payment). DC is digital currency. EP is electronic payment. Payment transmits digital things through a certain way, not paper currency. Therefore, electronic payment itself has the attribute of digital currency

The characteristics of digital currency are: low transaction cost; Fast trading speed; Highly anonymous

extended data

Application of digital currency

I. fast, economic and safe payment and settlement

cross border payment helps RMB internationalization. In 2015, the settlement volume of cross-border payment involving current account is about 8 trillion yuan. To accelerate the internationalization of RMB, cross-border payment and settlement procts and solutions with low cost, high efficiency and low risk are needed

At present, there are still a lot of repetitive human work in the bank's electronic loan process and processing process, and as the basic support of loan issuance, many of the collateral has the situation of false pricing or multiple or even no collateral. We can consider using digital currency to price and track bank collateral:

3. Bill finance and supply chain finance

in recent years, various bill market businesses based on commercial bills have grown rapidly, and bill financing procts have become a hot area of Internet financing. However, about 70% of the current bill businesses in China are still paper transactions, Supply chain finance is also highly dependent on labor costs

reference materials

network digital currency

2. Smart contract & quot The term "smart contract" can be traced back to at least 1995 and was proposed by the prolific interdisciplinary legal scholar Nick Szabo. He mentioned the concept of smart contract in several articles published on his website. His definition is as follows:
& quot; A smart contract is a set of promises defined in digital form, including the agreements on which the contract participants can execute these promises& quot;
let's explore the meaning of his definition in more detail
commitment
a set of commitments refers to the (often mutual) rights and obligations agreed by contract participants. These commitments define the nature and purpose of the contract. Take a sales contract as a typical example. The seller promises to deliver the goods and the buyer promises to pay a reasonable price
digital form
digital form means that contracts have to be written into computer-readable code. This is necessary, because as long as the participants reach an agreement, the rights and obligations of smart contract establishment are executed by a computer or computer network
to further explain:
(1) when will the parties to the smart contract reach an agreement? The answer depends on the specific smart contract implementation. Generally speaking, the contract is discovered when the parties are committed to the execution of the contract by installing the contract on the contract host platform< (2) contract execution
& quot; Execute & quot; And the real meaning of it also depends on implementation. Generally speaking, implementation means active implementation through technical means
(3) computer readable code
in addition, the contract needs specific & quot; Digital form & quot; Very much depends on the agreement that the parties agree to use
protocol
protocol is technical implementation, on this basis, the contract commitment is realized, or the contract commitment is recorded. Which agreement to choose depends on many factors, the most important of which is the nature of the assets being traded ring the performance of the contract
take the sales contract as an example. Suppose that the participants agree to pay in bitcoin. The chosen protocol will obviously be bitcoin protocol, on which the smart contract will be implemented. Therefore, the contract must use & quot; Digital form & quot; It's bitcoin scripting language. Bitcoin scripting language is a non Turing complete, imperative, stack based programming language, similar to forth.

3. That's a good question. Let me give you an example. For example, when I deposit 100 yuan in the bank, the data of this deposit is only recorded in the bank's database, which can't be obtained by others, namely "central bookkeeping". The blockchain is a distributed accounting, a new information recording technology, and it is "encrypted" and "distributed". The data does not exist in a center, but is stored once on the computer of the whole network. For example, if I transfer 100 yuan to you, I will shout to all the computers in the whole network. Let's record the accounts together, that is, "Distributed Accounting".

4. Blockchain is a technology, but it is not a single technology, but the result of the integration of a variety of technologies, including cryptography, mathematics, economics, network science and so on. You can think of it as a distributed shared accounting technology, or as a database, but the database is jointly maintained by all nodes in the chain, and each node has an account book. Because the account books of all nodes are consistent, different nodes can trust each other, and there is no doubt about the data, so we all say that the blockchain has realized trust technically. For detailed professional technology, you can consult some professional technology companies, such as Jinbo technology, which focuses on the development of blockchain related procts, professional R & D team and perfect after-sales service, and you can consult by telephone.

5. In the 1980s, a group of talented programmers explored this problem in the password mail group. In 1982, David Chaum proposed an untraceable cryptography network payment system. Eight years later, he extended this idea to cryptology anonymous cash system, namely ecash.
2 in 1998, Wei Dai's paper elaborated an anonymous and distributed e-cash system: B-money. At the same time, Nick Szabo invented bitgold and put forward the workload proof mechanism. Users solve mathematical problems competitively, and then publish the results in series with encryption algorithm to build a property rights authentication system. Hal Finney improved the mechanism as a "reusable workload proof"
3 on the basis of previous work, in 2008, the little-known "Nakamoto Tsung" published "bitcoin: a peer-to-peer cash payment system" in the cryptography mailing list of metzdowd.com. On January 3, 2009, bitcoin network was born, and Nakamoto himself released the first version of open source bitcoin client
since then, the monetary history of mankind has opened a new page.

6. Grade 1 is in each place of birth<

grade 5 Qingliangshan should cross the river,

grade 10 Qingliangshan should not cross the river. The river on the left side of the village is mostly

grade 15 is in the mining area, above Lei Dayong<

grade 20 is located in the mining area, where cattle are beaten, Hukou Waterfall grade 20 is located in the mining area,

grade 25 is located in Luliang Mountain,

grade 30 is located in Taiyuan (there are 7 or 8 points concentrated at the entrance of Luliang Mountain to shentouling)

grade 35 is located at the top of LENGKOU city in lujiazhuang,

grade 40 is located at the bottom right of Jinan coachman, as if there are LENGKOU and weijiadian 40 / 45, From lotus root / Wuhan in Tongcheng to Zaozhuang in weijiadian

50, from Taiyuan, lujiazhuang, Matian and Jinan to Zaozhuang<

55 / 60 mines are located in Baiyangding and Shijiazhuang (the lower left corner of 60). There are many 55 mines in Shijiazhuang, and 55 / 60 mines are relatively difficult to dig. When you enter Baiyang from Beiping, you must hang to Fuping, and then enter Baiyangdian and Shijiazhuang. The

65 / 70 mine is in shentouling. It's dangerous to walk along the right side of the entrance. It's better to prepare for store red and battle red. There are less mines in Shanhaiguan, but it's safer. There are more mine liudian from Beiping and Tianjin to Shanhaiguan, Get ready for red

80 / 85 at the gate of Tianjin

Shanghai seems to have a 90 point

7. On October 22, 2013, Qiao from Dongyang searched GBL company, a bitcoin trading platform, on the Internet, and recharged 90000 yuan to buy and sell bitcoin through a third-party payment. On October 26, Qiao found that the staff of the network trading platform were not online, and some normal trading proceres could not be implemented, and then reported the case to Dongyang Public Security Bureau
Dongyang Public Security Bureau of Zhejiang Province immediately started the investigation and found that Qiao was not the only one who suffered losses. Through efforts, the police of the special task force determined the identity of the manager of the GBL trading platform and implemented the pursuit in time. The first case of fraud on bitcoin trading platform in China was solved
lawyer analysis:
Zhang Yanlai, senior special researcher of China e-commerce research center and lawyer of Zhejiang Jin law firm, believes that virtual currency is not a new concept. Q-coin and online game currency have long been known by people. However, the emergence of bitcoin once again makes people realize the power of virtual currency. Compared with the traditional q-coin, the biggest feature of bitcoin is that it does not have a unified issuing agency. The generation of bitcoin completely depends on computer algorithms, and anyone can participate in the issuance of bitcoin
this makes it difficult to trace the source of bitcoin, which makes it a real virtual currency. The anonymity, cross-border and other Internet genes of bitcoin make people see a new form of currency that may circulate in the future society, so the pursuit and use of bitcoin also continued to rise in 2013. Some foreign governments have recognized the legal status of bitcoin. In China, some online stores have begun to use bitcoin for trading. Restaurants that accept "bitcoin" consumption have appeared in Beijing. The first "bitcoin" investment fund in China is also being raised. After the Ya'an earthquake, one foundation has received a total of 65 bitcoin donations, with a market price of about 50000 yuan
of course, money laundering, fraud, gambling and so on will follow. This case is a typical case of fraud under the banner of bitcoin trading. As the first case of bitcoin fraud in China, the public security organs have also concted in-depth study and understanding of the professional knowledge related to bitcoin, and finally cracked the case. On December 5, 2013, the people's Bank of China, the Ministry of instry and information technology and other five ministries and commissions issued the notice on prevention of bitcoin risk, which first made it clear that bitcoin does not have the status of legal tender, and required financial institutions and Payment institutions not to price procts or services with bitcoin. The central bank believes that there are three risks in bitcoin Trading: high speculative risk; High risk of money laundering and being used by criminals or organizations. In the future, the future of bitcoin is not clear, especially in sovereign countries, which will take a prudent and conservative attitude towards currency, which involves financial order and national security. Therefore, the public should also raise enough risk awareness.

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9. Nakamoto's bitcoin white paper was first published in "cryptopunk". In a narrow sense, cryptopunk is an encrypted e-mail system
in 1992, Tim May, a senior scientist at Intel, launched the cryptopunk mailing list organization. In 1993, Eric Hughes wrote a book called the code punk manifesto. This is also the first time the word "cypherpunk" has appeared
"password punk" has about 1400 users. Topics discussed include mathematics, encryption technology, computer technology, politics and philosophy, as well as personal issues. Early members include many it elites, such as Assange, the founder of WikiLeaks, Bram Cohen, the author of BT download, Sir Tim Berners Lee, the inventor of the world wide web, Nick Saab, who proposed the concept of smart contract, and Sean Parker, one of the founders of Facebook
of course, including the inventor of bitcoin, Nakamoto Tsung. According to statistics, before the birth of bitcoin, members of cryptopunk discussed and invented 10 failed digital currencies and payment systems.