Digital currency swbc

1.

Digital money is legal

digital currency itself is legal in China. Digital currency is defined as Internet goods in China, but the relevant supervision is still blank, and digital currency is still in the gray area in China. Well known digital currencies include bitcoin, Leyte coin, Ruitai coin, thousand gold card, dog coin, etc

however, there are also some non developers who use the cover of digital currency to carry out pyramid schemes, such as the Vicat scheme, treasure scheme, Porter scheme and so on

development materials:

digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currency, such as bitcoin, lightcoin and ppcoin, is an electronic currency created, issued and circulated by check sum cryptography. It is characterized by the use of P2P peer-to-peer network technology to issue, manage and circulate currency. In theory, it avoids bureaucratic examination and approval, so that everyone has the right to issue currency

2.

Digital currency financial license generally refers to the license to operate digital currency related business in a certain country or region. Having a digital currency finance license means that the institution can conct business and derivative services related to digital currency in the place where it is issued. Such as the establishment of digital currency exchange, payment, digital currency financial derivatives and so on

the issuers of digital currency trading license are generally the National Central Bank and financial regulatory agencies, of course, the participation of legal departments is also very important. There are also great differences in the license application standards of various countries. Some countries and regions even need to apply for relevant securities, banks and funds licenses at the same time

most of the information about the current operation status of the exchange (if the exchange is currently operating) is prepared by lawyers ·

US MSB license, with low registration cost and fast application time, is the lowest application fee among the current financial licenses

we can apply for the following licenses: US MSB license, Canadian MSB license, US NFA license, Estonian MTR, UK FCA, Maltese license, Mauritian license, Singapore foundation, Singapore MAS financial supervision, blockchain license, digital currency supervision license, UAE FSRA license, Cyprus cysec license, Belize IFSC license New Zealand FSP and FMA license, Australian ASIC license, Swiss FINMA license, Seychelles FSA license, Cayman CIMA license and other global overseas regulatory licenses

3. On the issue of issuing their own digital currency, central banks are always less thunderous. Central banks around the world are considering issuing their own digital currencies to compete with cryptocurrencies such as bitcoin, but they have been unable to do so for a long time

the media's attention to the central bank's digital currency has increased significantly, especially after Zuckerberg testified in Congress on the Libra issue and Christina Lagarde acknowledged the "clear demand" for stable currency at her first media reception as president of the European Central Bank, which seems to have changed the public's view on this matter, Let many people in cryptocurrency community think that cbdcs is in sight<

according to the latest survey report released by the bank for International Settlements, central banks in the past seven years have been investigating this technology and assessing its impact. Of the 63 central banks surveyed, 55 said they were unlikely to issue cbdcs in the next three years, and only one reported that they were "highly likely to issue large-scale cbdcs in the next three to six years."

although the proportion of central banks studying cbdcs is very high, the crux of the problem is that it is mainly theoretical and investigative work. Only five central banks have concted more in-depth research and real project development or experimentation - but that still does not mean that they will necessarily issue cbdcs

through close observation, it is more and more obvious that both Libra recently released by Facebook and the new stable currency assets have had a significant impact on the central bank. Today's situation took hundreds of years to form, but it changed in a few months; Competition, the most terrifying and unfamiliar concept that has never been thought of before and penetrated into the elite society of central banks, is now knocking at the door

it can be said that the solution to the current situation is still unclear. Some people who are familiar with these things even say that they are bluffing. However, in Lagarde's own words, the slow and wait-and-see regulatory approach can no longer meet the needs

1. What is central bank digital currency<

what is the difference between central bank digital currency CBDC and other digital currencies

CBDC is a new form of currency, which is directly issued by the central bank in digital form as legal tender. The current form of legal currency is cash, reserve deposit or balance settlement< There are two main differences between CBDC and other digital currencies (including cryptocurrency and other forms of central bank currency):

1. CBDC has nothing to do with cryptoassets. They're not decentralized, they don't have to be blockchain based, and they're certainly not anonymous, they're not unlicensed, they're not censored< 2. Contrary to the current digital cash, the operation structure of CBDC will be different from other forms of central bank currency. CBDC has more powerful functions. They are programmable, can generate interest, can be cleared in near real time, and have cheaper handling charges and wider openness

when designing CBDC, the speed of central banks is different. Different central banks adopt their own approach. However, in general, there are three problems being explored: whether CBDC should be based on token or account number, whether CBDC should be batch (only open to banks) or retail (open to the public), and whether it should be based on DLT

when CBDC is to be implemented, things will become complicated, and there are many thorny problems to be considered

for example, once CBDC is launched, does it need to cancel cash? Should CBDC carry interest? Should they have face value like cash? Or linked to the total price index? What impact will this have on commercial banks? What about anonymity and privacy? All these questions need to be answered<

2. Motivation for issuing CBDC

in the 2017 staff discussion paper, the Bank of Canada gave six reasons for issuing CBDC in an article entitled "central bank digital currency: motivation and impact":

1. Ensure that the central bank provides sufficient cash to the public, and maintain the seigniorage revenue of the central bank

2, Support non-traditional monetary policy

3. Rece overall risk and improve financial stability

4. Improve payment competitiveness

5. Promote financial inclusiveness

6. Curb criminal activities

looking back at the bank for International Settlements survey we analyzed earlier, payment security and domestic efficiency are selected as the most important motives of the central bank. According to a large number of papers published by the central bank and other large financial institutions, for developed countries, the transformation into a cashless society is the main driving factor, while for developing countries, financial inclusiveness, cost rection and operational efficiency are the main motivation

throughout the rest of the reports and the literature that can be found, the fierce competition brought about by bitcoin and other innovations in the cryptocurrency instry, as well as the clear need for "one step ahead", of course, are not listed as the reasons for issuing CBDC< The advantages and potential risks of CBDC are very low.

if the central bank starts to launch CBDC and succeeds in the end, there are many potential benefits

from a technical point of view, CBDC is much better than the current form of legal currency. They can be tracked better, collect taxes more conveniently, transmit monetary policy better, have better financial inclusiveness, and rece the cost of procing physical currency

the most obvious advantage is that payment is cheaper and faster, whether it is domestic payment or cross-border payment

in addition to the design and implementation problems, a key problem of issuing CBDC is that CBDC may increase the risk of bank operation. However, this only happens when banks promise that their deposits can be converted into CBDC on demand, which is not necessarily the case, according to the Bank of England document

4. Facts on the ground

how far is it from us to see a real CBDC appear in the market? It's hard to estimate, but at present, we can sum up the current situation in one sentence: all talk but no practice

if we put aside the failed digital currencies of Ecuador, Tunisia and Venezuela, we can only do theoretical research, a small amount of experiments, and issue some feasible CBDC issuance announcements supported by the state in the future

the most famous CBDC projects in progress are: e-peso in Uruguay (the project was successfully tested in 2018), DCEP in China, "project Inthanon" in Thailand, e-krona in Sweden (still in the research stage)...

5. The revolution has not yet been successful, and comrades still need to work hard

considering the factors mentioned above, Most of the headlines about CBDC's upcoming release are groundless. All projects scheled to be released this year have been delayed

in fact, there is still a long way to go for the birth of CBDC, and to convince the public, we need more than a statement. Given the current situation, it seems that CBDC and other cryptocurrencies may not affect each other - at least for now.

4. Bloex is good. All the projects on the website are screened
moreover, the above contracts are based on the index, so the cost of bursting positions is high. It's not like okex is a dog farm, forced to explode.

5. Look at the indivial requirements for the accuracy of quantification. What comes out of big data analysis is that the success rate must be higher. Digital currency is still very little to quantify, now it seems that jiuzhuang bcbot is doing quantification. For reference, in a bear market, high-frequency trading will surely be more reliable.

6. First of all, fire coin is a domestic bitcoin trading platform. It has won a round of 10 million yuan capital investment from Zhenge fund, Dai Zhikang, Sequoia Capital (shareholders of many global well-known companies such as apple and Alibaba). Fire coin implements strict risk control management and operates stably. As of the end of 2016, the accumulated turnover of fire currency reached 200 billion yuan. In the future, the main layout of fire coin network is overseas transactions. Founder Li Lin said in an open letter that he is currently carrying out five major businesses around the world, including fire coin global professional station, fire coin Korea, fire coin China, fire Coin Wallet and fire coin global dollar station. Among them, fire coin China focuses on blockchain technology R & D and application information, while fire coin Korea and fire coin global dollar station will continue to provide local legal currency to digital currency digital asset trading services
usbt is a digital currency, which is a virtual currency. It is traded in US dollars. As long as you buy in the right direction, you can exchange US dollars. It is based on the range of rise and fall. For example, if you buy up and then go up, you will earn US dollars, otherwise you will lose; Buy down, and then the market fell is also a profit, and vice versa is a loss
DLC is digital smart currency, a regional chain platform, similar to usbt.

7. If you want to invest in mainstream digital currencies, you can buy them in some well-known digital currencies, such as coin an, okex and Huo coin. These exchanges all have strict censorship mechanisms. Generally, they are mainstream digital currencies such as BTC / eth / EOS. If you want to keep it for a long time, buy it and transfer it to your cold wallet. Don't put it in the wallet of the trading platform
if you want to invest in some non mainstream digital currencies, you can choose BZ, ZB, OCX, bcex, etc. relatively speaking, these digital currency exchanges will have more currency choices, but the opportunities of meeting air currency will also increase.