Technology of digital currency

In the morning of March 9, 2014 Beijing time, Jared Cohen, creative director of Google, said at the Sxsw conference this week that digital cryptocurrency similar to bitcoin will exist for a long time. Cohen and Eric Schmidt, Google's chairman, promoted their co-author book the new digital age at the conference
in the past few months, bitcoin prices have fluctuated significantly. At the same time, this digital currency is strongly supported by the hacker community and is closely related to some black markets. Cohen believes that bitcoin has its value, but it will bring risks if it is not regulated
mt.gox lost $400 million worth of bitcoin, which shakes the confidence of the outside world in bitcoin. Some critics even point out that "bitcoin is dead". However, Cohen's statement is a strong support for cryptocurrency technologies such as bitcoin
bitcoin can exist only because both sides of the transaction recognize its transaction value, so anyone can independently design a virtual currency. Ars technica, for example, announced this week that it would create its own cryptocurrency, arscoin
Cohen believes that the main threat to digital cryptocurrency is how to keep it safely, and the loss of mt.gox bitcoin once again highlights this problem. Recently, the US Congress has also launched a debate on digital cryptocurrency. Some members believe that the supervision of the bitcoin should be strengthened to avoid risks. Another congressman, Jared polis, believes that the US dollar has similar defects to bitcoin, so if bitcoin is banned, then the US dollar note should also be banned
digital currency has a short history in the world, but it develops rapidly. Many countries are trying to sum up experiences and lessons through official or non-governmental efforts
take Europe as an example. In 2015, the transaction volume of digital currency in relevant European countries and regions exceeded 1 billion euro. Although the total amount is not large, it is fierce
it was reported on January 2, 2016 that the Bank of England is also considering whether to issue digital currency by the central bank, and the research work is still in the initial stage. Andy Haldane, chief economist of the Bank of England, said that switching to digital currency would be "a great technological leap forward"
DNB, Norway's largest bank, has already cancelled the cash counter service. The bank called on the government to stop using paper money completely. According to the data, only 6% of Norwegians still use cash every day, most of them the elderly. The social cost of cash payment is twice that of electronic money payment. In one day's life, the payment of bus, shopping, payment, refueling, and even parking is completed by swiping the card. Only when the children's school holds a charity sale can the banknotes be used
compared with paper money, digital currency has obvious advantages, which can not only save the cost of issuance and circulation, but also improve the efficiency of transaction or investment, and enhance the convenience and transparency of economic transaction activities. The issue of digital currency by the central bank also ensures the continuity of financial policy and the integrity of monetary policy, and also ensures the security of monetary transactions
although the issuing method of digital currency is still under study, paper currency has been regarded as "the currency of the previous generation" by some professionals, and it is the general trend to be replaced by new technologies and procts. Due to China's large population and volume, the timetable for issuing digital currency is still uncertain. It is predicted that digital currency and cash will be in parallel and graally replaced for quite a long time. When the era of digital currency really comes, people will carry less and less cash, travel more and more safe, poverty alleviation more and more accurate, corruption more and more difficult to escape, and thieves more and more difficult

digital currency leads the new financial pattern

with the acceleration of China's central bank's digital currency field, more and more central banks begin to pay attention to the central bank's digital currency field. It can be predicted that in the future, the central bank's digital currency will be an important direction for countries to compete in the financial field{ RRRRR}