Describe digital currency
Publish: 2021-05-23 20:50:55
1.
what is digital currency
digital currency can be used to describe all electronic currencies, including virtual currency and cryptocurrency. Digital currency is a kind of electronic currency without any physical form. Because of its functions and inherent attributes, it is the same as the standard illegal fixed currency, and can also be referred to as the network version of cash. Digital currency is invisible. People need to use and hold it through devices that can be connected to a specific network
T1: eth (the first public chain at present, the underlying platform of Shanzhai coin breeding, and in the speculation of eth2.0) EOS (community consensus + DAPP possible explosion + defi can also join + drop out of high cost performance) Zec (anonymous leader)
T2: Yas (UBI concept, low market value, great potential) atom (cosmos, advantage new public chain), XRP (the decline in 2019 has not risen, so the upward space is still very large) Polkadot dot (Boca, the goal is to surpass Ethereum) KSM (Boca pioneer)
T3: Ada (potential) NEO (myth of 1000 times of the last bull market), ont (strong village), Iost (Iost is currently undervalued, DAPP is also in good development)
there are platform coins in the coin circle, corresponding to HT, BNB, MX
2.
1、 Different definitions:
1. Virtual currency:
virtual currency refers to non real currency
Digital currency:digital currency is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy
3. Cryptocurrency:
cryptocurrency is a kind of transaction medium that uses cryptography principles to ensure transaction security and control the creation of transaction units
4. Token (token):
a kind of article whose shape and size are similar to currency, but the scope of use is limited and has no currency effect, and its token is the homonym of token in English
Second, the characteristics are different:1; It can also be said that virtual currency is personalized currency. In another way, it can also be called information currency
2. Digital currency:
is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of specific virtual communities
Cryptocurrency:cryptocurrency is based on the decentralized consensus mechanism, which is opposite to the banking and financial system relying on the centralized regulatory system
4. Token (token):
usually needs to be exchanged for money, used in shops, playgrounds, mass transportation and other places, as a voucher to use services and exchange goods
extended data
at present, digital currency is more like an investment proct, because it lacks a strong guarantee agency to maintain its price stability, and its role as a value measure has not yet appeared, so it can not be used as a means of payment. As an investment proct, digital currency cannot develop without trading platform, operating company and investment company
digital currency is a double-edged sword. On the one hand, the blockchain technology it relies on has been decentralized and can be used in other fields except digital currency, which is one of the reasons why bitcoin is popular; On the other hand, if digital currency is widely used by the public as a kind of currency, it will have a huge impact on the effectiveness of monetary policy, financial infrastructure, financial market and financial stability
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.
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. Digital currency platform development needs professionals to be responsible for, but now digital currency technology has matured, the difficulty of development has become very simple, has become a standardized technology. Today's digital currency technology is not the highlight, but the application scenario of this kind of digital currency
the birth and popularity of bitcoin all over the world depends on the concept, which is in the foreword of the times. However, bitcoin has been preconceived and cannot be replaced by other digital currencies. Although some counterfeit currencies were popular for a while later, they slowly went down in the end, only bitcoin strengthened. Puyin is another shortcut, as a standard system of digital currency appears, behind the endorsement of related tea assets, its value is recognized by the society.
the birth and popularity of bitcoin all over the world depends on the concept, which is in the foreword of the times. However, bitcoin has been preconceived and cannot be replaced by other digital currencies. Although some counterfeit currencies were popular for a while later, they slowly went down in the end, only bitcoin strengthened. Puyin is another shortcut, as a standard system of digital currency appears, behind the endorsement of related tea assets, its value is recognized by the society.
5. mining right contract
made by Changsha Bureau of land and resources
mining right contract
Article 1 both parties of this Contract:
transferor: Changsha Bureau of land and resources, Hunan Province, people's Republic of China
transferee:
according to the mineral resources law of the people's Republic of China, the Interim Provisions on the administration of mining right transfer, the According to the contract law of the people's Republic of China and other laws and regulations, both parties enter into this contract on the principle of equality, voluntariness, compensation and good faith
Article 2 the transferor transfers the mining right according to the authorization of the law, and the ownership of the mineral resources transferred belongs to the people's Republic of China. The state has jurisdiction and administrative power conferred by the Constitution and the law, as well as other powers exercised by the state in accordance with the laws of the people's Republic of China and rights and interests necessary for the interests of the public. The state ownership of mineral resources does not change with the land ownership or the right to use. The land use right attached to mineral resources does not belong to the scope of mining right transfer
Article 2 the mineral resources transferred to the transferee under this contract are located in
, and the inflection point coordinates of the mining area are shown in the annex for details, with the mining area of square kilometers and the mining depth of meter meter meter
Article 4 the main mineral species of the mineral resources transferred under this contract are: the mining method is mining, and the mining method is mining method< Article 5 the transferor agrees to deliver the transferred mineral resources to the transferee before (mm / DD / yyyy). According to the resource reserve evaluation report provided by the geological exploration unit, the transferred resource reserves under this contract are recoverable reserves tons
Article 6 according to the approved development and utilization plan of mineral resources and the mineral resources reserves within the mining scope, the service life of the transferred mine under this contract is years, and the proction scale of the mine is tons / year
Article 7 according to the relevant provisions on payment of mining right price, the price of the transferred mining right under this contract is RMB (in figures). Among them, yuan was handed over to the Provincial Department of land and resources; Turn over to Changsha Bureau of land and resources yuan; Turn in county (city)
yuan. However, the price of mining right stipulated in this contract does not include registration fee, mining right use fee and mineral resource compensation fee, and the transaction expenses of mining right have been dected
Article 8 the transferee agrees to pay the price of the mining right to the transferor in accordance with the provisions of paragraph () of this article, and pay it separately according to the amount determined by the transferor
(1) within days from the date of signing this contract, the above mining right price shall be paid in one lump sum
(2) pay the above mining right price to the transferor in installments according to the following time and amount
the first installment is RMB in words (in figures), and the payment time is before mm / DD / yyyy
the second installment of RMB in words (in figures), payment time: before mm / DD / yyyy
the third installment of RMB in words (in figures), payment time: before mm / DD / yyyy
the fourth installment of RMB in words (in figures), payment time: before (mm / DD / yyyy)
in case of policy adjustment, the new policy shall be implemented< Article 9 the grantee agrees to complete the infrastructure construction of the mine and start mining mineral resources before
if the mineral resources cannot be mined on schele, it shall be reported to the transferor in advance
Article 10 the grantee must organize proction in strict accordance with the mining area, mining types, proction scale, mining methods and mining methods specified in the approved plan for the development and utilization of mineral resources, so as to ensure the rational and effective utilization of mineral resources and the safe proction of the mine< Article 11 in case of any of the following circumstances ring the period of validity of the mining license, the transferee shall go through the change registration with the original license issuing authority:
(1) expand or narrow the scope of the mining area
(2) change of main mining minerals< (3) change of mining method< (4) change the name of mining enterprises
Article 12 the Grantee shall not transfer the mining right to another person for mining operation by means of contracting. If it is necessary to transfer the mining right, both parties to the transfer must apply to the original license issuing authority and go through the change registration proceres after examination and approval
Article 13 the transferee must take the initiative to accept the supervision and management of the transferor and submit the annual report to the transferor. If the grantee needs to continue mining after the expiration of the mining license, he shall apply to the original license issuing authority for registration of renewal 30 days before the expiration of the mining license
Article 14 in case of any potential safety hazard or damage to geological environment ring mining, the transferee shall immediately stop proction, report to the local people's government and relevant competent departments in time, and do a good job in rectification of potential safety hazard and treatment of geological environment
Article 15 the transferor shall not take back the mining right legally obtained by the transferee before the expiration of the service life stipulated in this contract. Under special circumstances, if the mining right needs to be withdrawn in advance according to the social and public interests, the transferor shall apply for approval in accordance with the legal proceres, and give corresponding compensation to the transferee
Article 16 Any party shall not be responsible for the partial or total failure to perform this contract e to force majeure, but shall take all necessary remedial measures to rece the losses caused by force majeure if conditions permit. If force majeure occurs after a party's delay in performance, he shall not be exempted from liability
Article 17 in case of force majeure, the party shall inform the other party of the event in written form such as letter, telegram, telex, fax, etc. within 48 hours, and submit to the other party a report on the reasons why the contract cannot be performed or partially cannot be performed or needs to be delayed within 3 days after the event< Article 18 the transferee must pay the price of the mining right on time in accordance with the contract. If the transferee fails to pay the price of the mining right on time, it shall pay the late fee to the transferor at the rate of 3 ‰ of the delayed payment every day from the date of late payment. If the delayed payment exceeds six months, the transferor has the right to terminate the contract and recover the mining right. The transferee has no right to ask for the return of the paid price, and the transferor can ask the transferee to compensate for other losses caused by breach of contract< Article 19 If the transferee pays the price of the mining right as agreed in the contract, the transferor must provide the mineral resources available for mining on time as agreed in the contract. If the mining right can not be provided for the reason of the transferor for more than six months, the transferee has the right to terminate the contract, the transferor shall double the paid price, and the transferee may request the transferor to compensate for other losses caused by the breach of contract
the transferor specially reminds us that the risk of mining investment is high, and what the transferor transfers on behalf of the state is the right of mining, so the scale, shape, reserves and grade of the ore body may be different from the actual mining, and the transferor will not bear any responsibility for this
Article 20 if the transferee violates the provisions of Articles 9, 10, 11, 12, 13 and 14 of the contract, the transferor has the right to terminate the contract and investigate the relevant legal liabilities of the transferee< Article 21 the conclusion, validity, interpretation, performance and dispute settlement of this contract shall be governed by the laws of the people's Republic of China< Article 22 this contract shall come into force from the date when the transferor issues the mining license to the transferee
Article 23 this contract is made in quadruplicate, with the same legal effect. The transferor and the transferee shall hold two copies respectively< Article 24 this contract is signed in Changsha Bureau of land and resources, Hunan Province, the people's Republic of China on
Article 25 matters not covered in this contract can be agreed by both parties as an appendix to the contract, which has the same legal effect as this contract< br />
made by Changsha Bureau of land and resources
mining right contract
Article 1 both parties of this Contract:
transferor: Changsha Bureau of land and resources, Hunan Province, people's Republic of China
transferee:
according to the mineral resources law of the people's Republic of China, the Interim Provisions on the administration of mining right transfer, the According to the contract law of the people's Republic of China and other laws and regulations, both parties enter into this contract on the principle of equality, voluntariness, compensation and good faith
Article 2 the transferor transfers the mining right according to the authorization of the law, and the ownership of the mineral resources transferred belongs to the people's Republic of China. The state has jurisdiction and administrative power conferred by the Constitution and the law, as well as other powers exercised by the state in accordance with the laws of the people's Republic of China and rights and interests necessary for the interests of the public. The state ownership of mineral resources does not change with the land ownership or the right to use. The land use right attached to mineral resources does not belong to the scope of mining right transfer
Article 2 the mineral resources transferred to the transferee under this contract are located in
, and the inflection point coordinates of the mining area are shown in the annex for details, with the mining area of square kilometers and the mining depth of meter meter meter
Article 4 the main mineral species of the mineral resources transferred under this contract are: the mining method is mining, and the mining method is mining method< Article 5 the transferor agrees to deliver the transferred mineral resources to the transferee before (mm / DD / yyyy). According to the resource reserve evaluation report provided by the geological exploration unit, the transferred resource reserves under this contract are recoverable reserves tons
Article 6 according to the approved development and utilization plan of mineral resources and the mineral resources reserves within the mining scope, the service life of the transferred mine under this contract is years, and the proction scale of the mine is tons / year
Article 7 according to the relevant provisions on payment of mining right price, the price of the transferred mining right under this contract is RMB (in figures). Among them, yuan was handed over to the Provincial Department of land and resources; Turn over to Changsha Bureau of land and resources yuan; Turn in county (city)
yuan. However, the price of mining right stipulated in this contract does not include registration fee, mining right use fee and mineral resource compensation fee, and the transaction expenses of mining right have been dected
Article 8 the transferee agrees to pay the price of the mining right to the transferor in accordance with the provisions of paragraph () of this article, and pay it separately according to the amount determined by the transferor
(1) within days from the date of signing this contract, the above mining right price shall be paid in one lump sum
(2) pay the above mining right price to the transferor in installments according to the following time and amount
the first installment is RMB in words (in figures), and the payment time is before mm / DD / yyyy
the second installment of RMB in words (in figures), payment time: before mm / DD / yyyy
the third installment of RMB in words (in figures), payment time: before mm / DD / yyyy
the fourth installment of RMB in words (in figures), payment time: before (mm / DD / yyyy)
in case of policy adjustment, the new policy shall be implemented< Article 9 the grantee agrees to complete the infrastructure construction of the mine and start mining mineral resources before
if the mineral resources cannot be mined on schele, it shall be reported to the transferor in advance
Article 10 the grantee must organize proction in strict accordance with the mining area, mining types, proction scale, mining methods and mining methods specified in the approved plan for the development and utilization of mineral resources, so as to ensure the rational and effective utilization of mineral resources and the safe proction of the mine< Article 11 in case of any of the following circumstances ring the period of validity of the mining license, the transferee shall go through the change registration with the original license issuing authority:
(1) expand or narrow the scope of the mining area
(2) change of main mining minerals< (3) change of mining method< (4) change the name of mining enterprises
Article 12 the Grantee shall not transfer the mining right to another person for mining operation by means of contracting. If it is necessary to transfer the mining right, both parties to the transfer must apply to the original license issuing authority and go through the change registration proceres after examination and approval
Article 13 the transferee must take the initiative to accept the supervision and management of the transferor and submit the annual report to the transferor. If the grantee needs to continue mining after the expiration of the mining license, he shall apply to the original license issuing authority for registration of renewal 30 days before the expiration of the mining license
Article 14 in case of any potential safety hazard or damage to geological environment ring mining, the transferee shall immediately stop proction, report to the local people's government and relevant competent departments in time, and do a good job in rectification of potential safety hazard and treatment of geological environment
Article 15 the transferor shall not take back the mining right legally obtained by the transferee before the expiration of the service life stipulated in this contract. Under special circumstances, if the mining right needs to be withdrawn in advance according to the social and public interests, the transferor shall apply for approval in accordance with the legal proceres, and give corresponding compensation to the transferee
Article 16 Any party shall not be responsible for the partial or total failure to perform this contract e to force majeure, but shall take all necessary remedial measures to rece the losses caused by force majeure if conditions permit. If force majeure occurs after a party's delay in performance, he shall not be exempted from liability
Article 17 in case of force majeure, the party shall inform the other party of the event in written form such as letter, telegram, telex, fax, etc. within 48 hours, and submit to the other party a report on the reasons why the contract cannot be performed or partially cannot be performed or needs to be delayed within 3 days after the event< Article 18 the transferee must pay the price of the mining right on time in accordance with the contract. If the transferee fails to pay the price of the mining right on time, it shall pay the late fee to the transferor at the rate of 3 ‰ of the delayed payment every day from the date of late payment. If the delayed payment exceeds six months, the transferor has the right to terminate the contract and recover the mining right. The transferee has no right to ask for the return of the paid price, and the transferor can ask the transferee to compensate for other losses caused by breach of contract< Article 19 If the transferee pays the price of the mining right as agreed in the contract, the transferor must provide the mineral resources available for mining on time as agreed in the contract. If the mining right can not be provided for the reason of the transferor for more than six months, the transferee has the right to terminate the contract, the transferor shall double the paid price, and the transferee may request the transferor to compensate for other losses caused by the breach of contract
the transferor specially reminds us that the risk of mining investment is high, and what the transferor transfers on behalf of the state is the right of mining, so the scale, shape, reserves and grade of the ore body may be different from the actual mining, and the transferor will not bear any responsibility for this
Article 20 if the transferee violates the provisions of Articles 9, 10, 11, 12, 13 and 14 of the contract, the transferor has the right to terminate the contract and investigate the relevant legal liabilities of the transferee< Article 21 the conclusion, validity, interpretation, performance and dispute settlement of this contract shall be governed by the laws of the people's Republic of China< Article 22 this contract shall come into force from the date when the transferor issues the mining license to the transferee
Article 23 this contract is made in quadruplicate, with the same legal effect. The transferor and the transferee shall hold two copies respectively< Article 24 this contract is signed in Changsha Bureau of land and resources, Hunan Province, the people's Republic of China on
Article 25 matters not covered in this contract can be agreed by both parties as an appendix to the contract, which has the same legal effect as this contract< br />
6. Digital currency is digital currency. There is no need to describe it. At most, it is unnecessary to describe it clearly and give more details
digital currency generally refers to bitcoin, Leyte coin, Ruitai coin, vitality coin, dog coin and other digital cryptocurrencies.
digital currency generally refers to bitcoin, Leyte coin, Ruitai coin, vitality coin, dog coin and other digital cryptocurrencies.
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