Virtual currency cannot replace paper money
digital currency needs to be & quot; Miner Mining & quot; Generated, mining is through the computer graphics card hash operation, if calculated to & quot; Blasting & quot; The system will reward a certain amount of digital currency at one time. At present, the computing power of digital currency is growing rapidly, and the miners can't find the mine through several computers. Therefore, they need to join the mine pool. The mine pool collects all the computing power of everyone, and it is estimated that they can calculate to & quot; Blasting & quot; The probability of the value is greater.
at present, virtual digital currency is still in the stage of transition, research and development, and testing, and has not been recognized by the whole world, although some countries have started the relevant research process, and even will issue their own digital currency but there is a premise of digital currency, which is decentralization. A decentralized digital currency without control means cultural differences to a country
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Second, the electronic currency will be more convenient for people's proction and life, which is determined by the convenience and liquidity of currency. The replacement of metal currency by paper currency greatly facilitates people's proction and life, and the replacement of paper currency by digital currency is also determined by its characteristics. Third, from the social and economic point of view, digital currency has security, rapid circulation and environmental protection, which is lacking in paper money. The use of digital currency can improve the economic efficiency of the whole society and make the economy more active
1. Whether e-money can be called currency depends on whether e-money can independently perform the function of currency. At present, electronic currency can play the role of payment and settlement, but it is only a quasi currency that may perform monetary functions. First of all, e-money lacks the price standard of money, so it can't measure and express the value and price of goods alone, and it can't have the means of value preservation. Instead, it can only rely on the function of value measurement and value storage of real money; Secondly, because electronic money is based on certain electronic devices - smart cards and computers, its circulation and use must have certain technical facilities and software support. Therefore, we can not really carry out the function of circulation means; Finally, although the most basic function of e-money is to implement the means of payment, most of the existing e-money can not be used for direct payment between indivials. Moreover, when paying to a special merchant, the merchant has to collect the real money from the bank or credit card company that issued the e-money before the payment is recovered, E-money can not perform the function of payment means independently. It can be seen that the current electronic currency is a new currency form or payment method based on the existing currency
2. Electronic money circulation and the risk of central bank losing seigniorage income
from the balance sheet of central bank, the main liability item is currency without interest payment, while the asset side is composed of various claims with interest requirements. As a result, the central bank can profit from the interest spread between assets and liabilities. This kind of profit is one of the main income channels of the central bank, which is commonly known as "seigniorage income"
3. The circulation of e-money and the risk of the central bank's monetary policy failure
when the competitive issuing mechanism of e-money is established, as e-money is widely used as a payment tool for small transactions, the currency issued by the central bank is obviously replaced, and the central bank's "seigniorage income" will be greatly reced, thus affecting its monetary policy independence. Especially for developing countries, because of the wide range of cash use, the management cost is high.