Digital currency ATSA

1. Electronic money refers to the exchange of a certain amount of cash or deposit from the issuer and obtaining data representing the same amount, or the quick payment service launched by the bank and the third party to transfer the balance in the bank through some electronic means, so that transactions can be carried out. Strictly speaking, it is a kind of currency that consumers use the bank's Internet banking service to store value and make quick payment to the issuers of electronic currency, and make consumers trade electronically through media (two-dimensional code or hardware equipment)

digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy. Digital currency is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of a specific virtual community. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form

response time: August 3, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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2. CBDC, the full name of central bank digital currency, translated as the central bank digital currency. The Bank of England, in its Research Report on CBDC, gives this definition: central bank digital currency is the electronic form of central bank currency, which can be used by households and businesses to make payments and store value. The Chinese version of CBDC is described as digital RMB, which is issued by the people's Bank of China, operated by designated operators and exchanged to the public. It is based on the generalized account system, supports the loose coupling function of bank accounts, is equivalent to banknotes and coins, and has value characteristics and legal compensation. What we call DC / EP is the Chinese version of the central bank's digital currency, translated as "digital currency and electronic payment tools". The center for International Settlements (BIS) and the Committee on payment and market infrastructure (CPMI), two authoritative international organizations, jointly concted two questionnaires on more than 60 central banks in 2018 and 2019. The content of the questionnaire includes the work progress of central banks on digital currency, the motivation of studying digital currency and the possibility of issuing digital currency. 70% of central banks said they are (or will be) involved in the research of digital currency
response time: August 6, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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3. The time is not fixed. On November 13, 2019, the people's Bank of China issued the announcement on issuing or promoting legal digital currency in the name of the people's Bank of China. The people's Bank of China has not issued legal digital currency (DC / EP), nor authorized any asset trading platform to conct transactions. The people's Bank of China started to study legal digital currency in 2014 and is still in the process of research and testing. Neither "DC / EP" nor "DCEP" traded in the market is legal digital currency, and the launch time of legal digital currency transmitted through Internet is inaccurate information

response time: July 14, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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4. After the digital currency is sold, it is generally universal usdt, or OTC, which can be directly converted into legal currency, that is, RMB, which is not difficult to operate.

5.

The contract transaction of digital currency is not safe. There are still many loopholes in the digital currency trading platform, for example, the most common are the following six kinds:

1. Denial of service attack

denial of service attack is the most important attack against the digital currency trading platform at present. Through denial of service attack, the attacker makes the trading platform unable to access normally, Because users can not accurately distinguish the degree of attack, it often causes panic asset transfer, which brings some loss

2. Phishing incident

even the best technical measures at present can not make the digital currency trading platform avoid phishing attacks. Some hackers and criminals can confuse digital currency investors by means of fake domain names or fake pages, while ordinary investors can't identify the authenticity, so it's easy to cause asset losses

Many digital currency trading platforms use a single private key to protect the hot wallet. If hackers can access a single private key, they can crack the hot wallet related to the private key. For example, in the attack on yapizon of Seoul stock exchange in 2017, the attackers stole hot wallets from the trading platform twice in a year, resulting in a total loss of nearly 50% of the assets of the trading platform and eventually leading to the bankruptcy of the trading platform

Fourth, e to the lack of perfect risk isolation measures, or ineffective supervision on the rights of employees, some employees who have the operation rights of the platform use internal trust to seek unjust wealth for themselves. For example, in 2016, the event of employees stealing bitcoin on shapeshift caused a total loss of US $230000 to the trading platform by stealing and reselling sensitive information to others

Fifth, the software vulnerability of digital currency trading platform includes single sign on vulnerability, OAuth protocol vulnerability and so on. At present, all countries have laws requiring banks or other financial institutions to implement information security measures to protect customers' deposits. However, e to the fact that the blockchain field is still in its infancy, there is a lack of such specifications for encrypting digital assets. Therefore, it is not accidental that many trading platforms have a large number of loopholes in the absence of security constraints

6. Transaction malleability the technical supporters of blockchain often think that blockchain transactions are highly secure because they are recorded on records that are said to be unchangeable, but each transaction needs to have a corresponding signature, and the records can be forged temporarily before the final confirmation of the transaction

extended data:

rules of contract transaction

1. Transaction time

contract transaction is 7 * 24 hours transaction, which will be interrupted only ring the settlement or delivery period of 16:00 (UTC + 8) every Friday. In the last 10 minutes before delivery, the contract can only be closed, not opened

Transaction types are divided into two types, opening and closing. Opening and closing positions are divided into two directions: buying and selling:

buying open long (bullish) refers to buying a certain number of contracts when users are bullish and bullish on the index. Carry out "buy open more" operation, match success will increase long position

selling pingo (multi order closing) refers to the selling contract that the user makes up for when he is no longer bullish on the future index, offsets with the current buying contract and exits the market. Carry on "sell flat much" operation, match after success, will rece long position

short selling (bearish) refers to the new sale of a certain number of certain contracts when the user is short or bearish on the index. Carry out the operation of "sell short" and increase the short position after successful matching

buy close (short single close) refers to the buy contract that the user will not be bearish on the future index market and make up for, offset with the current sell contract and exit the market. Carry out "buy short" operation, after matching successfully, short position will be reced

3. Order method

limit order: the user needs to specify the price and quantity of the order. Limit order can be used for opening and closing positions

order at opposite price: if you choose to order at opposite price, you can only enter the order quantity, not the order price. The system will read the latest competitor price at the moment of receiving the entrustment (if the user buys, the competitor price is the selling price of 1); If it is a sell, then the counter price is buy 1 price). Issue a price limit order for this counter price

4. Position

the user owns the position after opening and trading, and the positions in the same direction of the same contract will be merged. In a contract account, there can only be 6 positions at most, that is, multiple positions of current week contract, short positions of current week contract, multiple positions of next week contract, short positions of next week contract, multiple positions of quarterly contract and short positions of quarterly contract

5. Order restriction

the platform will restrict the number of single user's positions in a certain period of contract and the number of single open / close positions, so as to prevent users from manipulating the market

when the number of positions or entrustments of users is too large, the platform has the right to require users to take risk control measures, including but not limited to cancellation of orders, closing positions, etc. The platform has the right to adopt measures including but not limited to limiting the total number of positions, limiting the total number of consignments, limiting the opening of positions, withdrawing orders, forcibly closing positions, etc. for risk control

6. DCEP (digital currency electronic payment), the Chinese version of digital currency project, namely digital currency and electronic payment instrument, is the legal digital currency in the research of the people's Bank of China and a kind of digital currency. Digital RMB, issued by the people's Bank of China, is a controllable anonymous payment tool with value characteristics and legal compensation. It is operated by designated operating institutions and exchanged to the public. It is based on the generalized account system, supports the loose coupling function of bank accounts, and is equivalent to banknotes and coins. As for the research progress, the top-level design, standard formulation, function research and development, joint commissioning and testing have been completed, and the internal closed pilot test will start in April 2020. As of September 15, 2020, DCEP has not been officially launched

warm tips: the above explanation is for reference only
response time: September 16, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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7. On April 22, 2020, xiong'an New District held a pilot promotion meeting of legal digital RMB (DCEP). The central bank's digital currency pilot in xiong'an is a step in the construction of digital city in xiong'an new area The planning outline of xiong'an New Area in Hebei Province clearly puts forward: "adhere to the synchronous planning and construction of digital city and real city, appropriately advance the layout of intelligent infrastructure, promote the real-time control of global intelligent application services, establish and improve the big data asset management system, and create a global leading digital city with deep learning ability." The top-level design of digital city in xiong'an New District points out the direction for bridging the existing digital gap in the new district

to this end, xiong'an new district is fully digital in terms of digital government, digital economy and digital life. In 2019, xiong'an will take the lead in testing 5g network, closely track the latest development of new generation information technology, and take the lead in new fields such as artificial intelligence, blockchain and IOT

response time: July 16, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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8. Its English name is anastoms, short for "at". Use Internet technology to let more investors manage money safely, efficiently and easily.