Currency virtualization

1. Ma Yun does not specifically refer to which kind of virtual currency, but refers to mobile payment. The inevitable development trend of currency virtualization is the inevitable development of technology and currency. It can meet people's needs and make life more convenient. It's up to him to seize this opportunity. Of course, investment in this area must have a pair of wise eyes, otherwise it will hurt the purse and the contacts

2. Currency virtualization refers to the graal separation of money from precious metals in the development and transformation into credit money. Credit money develops from paper money to bank account and credit card, and money is transformed into a pure value symbol. That is to say, money graally breaks away from its value entity (as the result of abstract labor) and value carrier (such as precious metals, bank notes) and becomes a pure value symbol

remember to adopt it

3. Currency virtualization refers to the graal separation of money from precious metals in the development and transformation into credit money. Credit money develops from paper money to bank account and credit card, and money is transformed into a pure value symbol. That is to say, money graally breaks away from its value entity (as the result of abstract labor) and value carrier (such as precious metals, bank notes) and becomes a pure value symbol.

4. Of course, the central bank will also issue virtual currency. At present, it is suggested to do international work. For example: DGC.. Differentiable

5. So you are a layman. China should learn from the United States and make sure that the people's currency is printed for foreigners, so we should print more RMB,

6. What is the inevitable connection between economic control in several families and virtual payment?!

7. The ultimate goal of population consumption is to waste everything. "Asset virtualization" is the ultimate bubble. Friedman, the most important economist after Keynes, once understood the formula of income capitalization from a macro perspective when he expressed the relationship between economic flow and stock. The so-called income capitalization formula means that the value of capital stock is equal to income except interest rate. This is actually an "economic virtualization relationship" that can virtualize any income stream into a large number of financial assets. Asset virtualization is mentioned in the book currency war and RMB strategy, which you can check for yourself.

8. At present, the line is becoming more and more blurred
physical currency is increasingly becoming a string of numbers on mobile phones and computers. The transaction does not involve the transmission of physical currency
from the perspective of the evolution of human and technological development, virtualization currency will become more and more popular. Yes

9. The formation of virtual economy has experienced five main stages of development. The first stage is the capitalization of idle money, that is, people's idle money becomes interest bearing capital. The earliest origin can be traced back to the business lending behavior between indivials. For example, Party A borrows money from Party B who has spare money to engage in proction and business activities, and it is agreed that Party A will repay the principal and interest to Party B when e. IOU is the rudiment of virtual capital, which gains value through circulation of borrowing and returning. At this time, B did not engage in actual economic activities, just through a virtual economic activities to make money. The second stage is the socialization of interest bearing capital, that is, from indivial lending to banks and securities. With the development of society, as an intermediary, banks have emerged. People deposit the idle money in the bank, and then the bank lends it to earn interest. People can also use the idle money to buy various securities to earn interest. At this time, the securities in people's hands are virtual capital. The third stage is the marketization of securities, that is, the formation of a virtual capital exchange financial market, and then the financial market graally developed from stocks and bonds to futures trading. The biggest problem of the early virtual capital was the lack of liquidity, which hindered the transformation of idle money into interest bearing capital. After the marketability of securities, they can be bought and sold freely according to their expected returns, thus creating a financial market for virtual capital transactions. The fourth stage is the internationalization of financial market, that is, virtual capital can conct cross-border transactions, which has experienced a tortuous process. In the middle of the 19th century, the United States and other debtor governments and railway companies issued bonds with fixed interest rates in the financial markets of Britain, France and Germany. However, it was not until the early 20th century that large-scale transnational securities investment appeared. Since the 1960s, futures trading has appeared in the trading of stocks, bonds, foreign exchange and other financial commodities, and options trading also appeared in 1973. The fifth stage is the integration of international finance. Since the 1980s, with the advancement of economic globalization, the degree of economic dependence among countries has greatly increased, and the degree of financial liberalization has graally increased; Second, with the formation of floating exchange rate system and the enhancement of financial innovation, the scale of virtual economy is increasing; Third, with the progress of information technology, the flow of virtual capital in the financial market is faster and faster, and the flow is also larger and larger. The above three factors promote the closer connection between the domestic financial markets and the international financial markets, and the mutual influence is also increasing. It can be said that the whole body is affected by one thing. The characteristics of virtual economy virtual economy system has several characteristics. One is complexity. Virtual economy is a complex system, which is mainly composed of natural person and legal person. They carry out virtual economic activities in the financial market according to certain rules. Everyone has the freedom of independent decision-making, but can not be affected by other people's decision-making and the environment. Taking the stock market as an example, when an investor buys and sells stocks is his own decision-making, but this decision-making can not be influenced by other people, or by environmental factors such as policies. Although the system is easy to proce turbidity e to the nonlinear interaction between components, it can show a certain order and stability e to the self-organization of the system. Second, metastability. Virtual economic system is a kind of metastable system, which is far away from equilibrium, but can keep relatively stable. With dissipative structure, it is necessary to exchange funds with the outside world to maintain relative stability. For example, in the stock market, there must be buying and selling, and new capital must be continuously injected in order for the stock market to survive. The metastability of virtual economy comes from three aspects: first, the inherent instability of virtual capital. The second is the virtualization of money. After the decoupling of currency from gold standard and gold exchange standard, it no longer has a real value that can be measured by some kind of material object. The government can adjust the money supply by printing money, without the previous money withdrawal mechanism. At this time, the value of money can only be measured by its purchasing power, and it is affected by the circulation of money, interest rate, exchange rate, people's consumption behavior and other factors, so the virtualization of money will enhance the instability of the virtual economy. Third, it comes from positive feedback. Theoretically speaking, the rise of stock price will rece the demand for stocks. As fewer people buy stocks, the supply and demand of stock market will be automatically balanced; However, e to the positive feedback effect in the stock market, many investors are optimistic about the future of the stock market after the stock price rises, and more funds will enter the stock market to speculate. Due to the increasing demand, the stock price will rise further. This kind of positive feedback will cause amplification effect and make the price of virtual capital fluctuate greatly. Thus, the instability of the virtual economic system is aggravated. Third, high risk. It can be divided into objective risk and subjective risk. In recent years, e to the development of information technology, a lot of progress has been made in predicting the future from the past data, but it is still impossible to predict the future completely and accurately, so there are objective risks. Subjective risk comes from people's subjective estimation error of expected return. The development of stock market is supported by people's optimistic psychological expectation. If there is no speculation, bubble and risk in stock market, it is not the stock market. Speculators do not look at the discount of future earnings, but at the price difference between buying and selling. If there is speculation, there must be bubbles. If there are bubbles, there must be risks. This is the subjective risk. This kind of risk has a positive feedback effect and is easy to be amplified, causing panic. In addition, the existence of illegal activities, such as internal transactions, manipulation by dealers and untrue information disclosure, will also cause high risks of virtual economy. Fourth, parasitism. The virtual economic system is proced by the real economic system and attached to the real economic system. Its parasitic performance is that its operation cycle depends on the operation cycle of the real economy, but the short-term deviation may occur. Due to the close relationship between virtual and real economic systems, the risks in real economy, such as overstocking of procts, bankruptcy of enterprises, will be transferred to the virtual economic system, leading to its instability. The risks in the virtual economy system, such as the sharp fall of the stock index, the sharp fall of the real estate price, the sharp increase of bad bank loans, and the sharp depreciation of the currency, will also have a serious impact on the real economy. In the market economy, it is impossible for the real economy to run away from the virtual economic system. Fifth, periodicity. On the whole, the evolution of virtual economy is cyclical. In general, the real economy has accelerated growth, the economic bubble has begun to take shape, currency and credit have graally expanded, asset prices have generally risen, stock and real estate prices have been rising, external disturbances have caused the economic bubble to burst, all kinds of financial indicators have dropped sharply, people have been throwing real assets and financial assets, and the real economy has slowed down or negative growth. This periodicity is not a simple cycle, but a spiral forward. The virtual economy is always in a cycle of expansion, bubble formation, bubble burst, contraction or collapse. The real economy is hardware, and the virtual economy is software. First of all, we should make clear what the real economy is. Marx discusses the process of capital circulation, that is, first employing workers, purchasing raw materials, machines and building factories with monetary capital through exchange, and then turning procts into procts through proction, procts into commodities through circulation, and commodities into money through exchange. I think this process is the real economy. Virtual economy refers to the economic activities related to the circular movement of virtual capital mainly relying on the financial system. This is that monetary capital can make profits without going through the real economic cycle. In short, the virtual economy is the activity of directly making money from money. At present, the scale of virtual economy is much larger than that of real economy. Since the 1980s, the world's average annual economic growth rate has been about 3%, the annual growth rate of international trade is about 5%, the annual growth rate of international capital flow is about 25%, and the total price of global stocks has increased by 2.5 times. According to the data of the International Monetary Fund and the world bank, the world's total virtual economy was 140 trillion US dollars at the end of 1997 and 160 trillion US dollars at the end of 2000, which is roughly five times of the world's GDP. The daily flow of virtual capital in the world is about 2 trillion US dollars, which is about 50 times of the world's daily average trade volume. It can be predicted that with the development of e-commerce and e-money, the scale of virtual economy will continue to expand. The real economy is the hardware in the economy, and the virtual economy is the software in the economy. They are interdependent. The study of virtual economy is not only of theoretical significance, but also of practical significance. On the one hand, it is because the scale of virtual economy is expanding rapidly, and there is still a big gap between China and foreign countries in the development of virtual economy. Compared with the real economy, the scale of China's virtual economy is still relatively small. When the market value of the stock market was the highest, it was only 55% of GDP, and only about one third of it was circulating shares. The bond market and money market were relatively small, and financial derivatives had not yet developed. China did not have such large-scale financial centers as Wall Street in New York and Lombard Street in Britain. On the other hand, e to our lack of experience in how to control the virtual economy, China is facing severe challenges in the virtual economy after China's accession to the WTO. For example, in the use of funds, we still have some experience on how to make use of interest rate difference and time difference, but we don't know much about how to make use of liquidity difference, portfolio difference and risk difference to achieve the optimal balance among profitability, security and liquidity. In addition, we also lack experience on how to recognize and deal with the risks in the virtual economy system. We should seriously study the movement and development law of virtual economy, especially the interaction and influence between virtual economy and real economy, so as to give full play to the role of virtual economy in promoting China's economic development and try our best to prevent and eliminate its negative effects.