央行对区块链解读的态度,央行对区块链解读的看法

㈠ What is blockchain

What is blockchain? What changes will it bring to your future life?

Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm.

Blockchain is an important concept of Bitcoin. It is essentially a decentralized database. At the same time, as the underlying technology of Bitcoin, it is a series of cryptographic methods related to each other. Each data block generated contains a batch of Bitcoin network transaction information, which is used to verify the validity of the information (anti-counterfeiting) and generate the next block.

In fact, the original English version of the Bitcoin white paper does not appear in the word blockchain, but uses chain of blocks. In the earliest Chinese translation of the Bitcoin white paper, chain of blocks was translated into blockchain. This is the earliest time when the Chinese word "blockchain" appeared.

The Cyberspace Administration of China issued the "Blockchain Information Service Management Regulations" on January 10, 2019, which will come into effect on February 15, 2019.

In a narrow sense, blockchain is a chain data structure that combines data blocks in a sequential manner in chronological order, and is cryptographically guaranteed to be non-tamperable and non-transformable. Fake distributed ledger.

So in conclusion, this is undoubtedly a new technology that changes life. In the future, the production activities of the entire society will be carried out with blockchain as the underlying logic. Many things We all have it at our fingertips, and with the integration of artificial intelligence and big data, we can easily handle things that may seem cumbersome now, such as some securities market transactions and intelligent matching of financial management activities.

To put it simply, blockchain is a network computing center that integrates people, property, machines, and goods, and packages them into a whole; putting it on an infrastructure to run.

㈡ What impact will the central bank’s official entry into digital currency have on the blockchain?

Looking closely at these two fields, you will find that they have begun to develop apart from each other. Although in Technically, digital currency is inseparable from blockchain, but blockchain technology is not limited to digital currency. It has been favored by various technology companies in terms of product traceability, data transparency, and distributed consensus. So you say the central bank is entering digital currency. What impact will it have on the blockchain industry? In fact, it will not change much. Currently, Ant Financial, the company behind Alipay, is the company with the most blockchain patent applications in the world, but it has not had much interaction with digital currencies.
The person who will benefit most from this is the domestic currency circle. In 2017, the country banned digital currencies and related fundraising activities, which created a rather negative impression in the eyes of ordinary people. This time the central bank proactively explores entering cryptocurrency, which is actually its recognition of the core concept of digital currency. haveWith this kind of incentive, domestic enterprises will actively enter this industry and inject fresh blood into this industry. This is the most important thing.
Concerning this matter, you can read the reports of blockchain media, such as Golden Finance, Biyi Zhizhi column, Lianwen and so on.

(iii) What disruptions has the blockchain brought and why has it become a national strategy?

The disruptive characteristics of the blockchain lie in the following four aspects: 1. Transparency. The data records of the blockchain system are transparent to the entire network nodes, and the update operations of the data records are also transparent to the entire network nodes. This is the basis for the trust of the blockchain system. Since the blockchain system uses open source programs, open rules and high participation, blockchain data records and operating rules can be reviewed and traced by nodes throughout the network, with high transparency.
2. Openness. The blockchain system is open. Except for the private information of the parties directly related to the data, which is always encrypted, the blockchain data is open to everyone (except for blockchain systems with special permission requirements). Anyone or participating nodes can query blockchain data records or develop related applications through public interfaces, so the entire system information is highly transparent.
3. Information cannot be tampered with. Once the information of the blockchain system is verified and added to the blockchain, it will be permanently stored and cannot be changed (except for systems such as private blockchains with special change requirements). Unless more than 51% of the nodes in the system can be controlled at the same time, modifications to the database on a single node are invalid, so the data stability and reliability of the blockchain are extremely high
4. Decentralization. Decentralization is the most basic feature of blockchain, which means that blockchain no longer relies on central processing nodes and realizes distributed recording, storage and updating of data. In a traditional centralized network, attacking a central node can destroy the entire system. However, in a decentralized blockchain network, attacking a single node cannot control or destroy the entire network or more than 5% of the nodes in the network. It's just the beginning of gaining control. 2019 is the first year of commercial application of blockchain technology, and favorable policy incentives will make the development of blockchain technology more stable.
As the application of blockchain technology gradually penetrates into many fields such as digital finance and the Internet, everyone has a clearer understanding of the value of blockchain.
Blockchain has formed a global competition situation. All countries are seizing development opportunities, and China cannot lag behind; therefore, it is understandable that blockchain has become a national strategy.

㈣ How to view the central bank’s issuance of blockchain-based legal digital currency

The trial operation platform is owned by the central bank, and this platform is not currently open, it is only a successful test. These electronic currencies used for testing by the central bank may be legally legal currency, but they have not yet left the central bank's door. Therefore, the word "release" in the news headline is very loose, and it is the material that all kinds of ghosts and ghosts are most looking forward to. One of the impacts is that various people have begun to endorse the so-called central bank and create a new wave of attention-grabbing ‘news’. Impact on BitcoinThe impact is that countless analyzes and speculations advocating for ups and downs are coming in again.

China Securities News: Is blockchain technology suitable for digital currency?

Li Wei: In recent years, blockchain technology has gradually received close attention from the financial industry at home and abroad. Central banks, commercial banks, and Internet companies in some countries have actively explored blockchain technology and its application in the financial field. application. Digital currency involves distributed architecture, cryptography technology, security chips, mobile payments, trusted computing and other technologies. Blockchain technology is only one of the optional implementation technologies for digital currencies. Whether it will be used in digital currency in the future depends on whether the shortcomings of blockchain technology in network security, business processing performance, transaction consistency, etc. can be solved. It also depends on the unremitting efforts of all parties in industry, academia, and research in terms of its technical system, application framework, etc. Explore and perfect. To this end, the People's Bank of China chose to build a blockchain technology application prototype system in the bill business scenario in 2016, actively organizing all parties to study its technological maturity and business adaptability, and verify its feasibility of large-scale application in the financial industry. The meaning of this expression in the interview is: there are still unresolved shortcomings in the current application of blockchain technology. With our party’s governance style in recent years, we will not [issue] something with such shortcomings that need to be resolved.

Summary: On February 5, 2017, the day the question was answered, the Central Bank of China was not the first central bank in the world to issue and apply digital currency.

㈤ Popular explanation of what blockchain is

Question 1: What is blockchain? Can you explain the 10 partitions in plain language? The principle of blockchain: decentralized distributed accounting system
The core of blockchain technology is that all currently participating nodes jointly maintain transactions and databases. It makes transactions based on cryptographic principles rather than trust, making any The two parties who have reached an agreement can directly conduct payment transactions without the participation of a third party.
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Technically speaking, a block is a data structure that records transactions, reflecting the flow of funds for a transaction. The blocks of transactions that have been reached in the system are connected together to form a main chain, and all nodes participating in the calculation record the main chain or part of the main chain. A block contains the following three parts: transaction information, hash hash formed by the previous block, and random number. Transaction information is the task data carried by the block, specifically including the private keys of both parties to the transaction, the number of transactions, the digital signature of electronic currency, etc.; the hash formed by the previous block is used to connect the blocks to realize the past The order of transactions; random numbers are the core of transaction completion. All miner nodes compete to calculate the answer to the random number. The node that gets the answer the fastest generates a new block and broadcasts it to all nodes for update, thus completing a transaction.
1.1 What is Blockchain
Blockchain (BlockChain) refers to a technical solution that collectively maintains a reliable database through decentralization and trustlessness. The technologyThe plan mainly allows any number of nodes participating in the system to associate and generate a series of data blocks (blocks) using cryptographic methods. Each data block contains all the information exchange data of the system within a certain period of time, and generates data fingerprints. Used to verify the validity of its information and chain the next database block.
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In layman’s terms, blockchain technology refers to a way for all people to participate in accounting. Behind all systems there is a database, which is a big ledger. Then who will keep this ledger becomes very important. At present, it is whoever owns the system who keeps the accounts. Each bank’s account books are kept by each bank, and Alipay’s account books are kept by Alibaba. But now in the blockchain system, everyone in the system has the opportunity to participate in accounting. If there are new transaction data changes within a certain period of time, everyone in the system can do accounting. The system will judge the person who has the fastest and best accounting during this period, write the recorded content to the ledger, and Send the contents of the ledger during this period to all other people in the system for backup. In this way, everyone in the system has a complete ledger. Therefore, this data becomes very safe. A tamperer needs to modify more than half of the system node data at the same time to truly tamper with the data. Such tampering would be extremely costly, making it nearly impossible. For example, Bitcoin has been running for more than 7 years. Countless hackers around the world have tried to attack Bitcoin, but so far there have been no transaction errors. It can be considered that the Bitcoin blockchain has been proven to be a safe and reliable system.
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1.2 Why is there blockchain innovation?
Human beings need to communicate during their activities, and communication is based on information. In the past, information circulation was not convenient enough to satisfy market participants. There is a demand for information, so intermediaries and centers are born. This centralized system has problems such as high cost, low efficiency, value dispersion, "information islands" and insecure data storage. However, due to technical and environmental factors, this system continued to operate for many years until the emergence of the Internet. The starting point of the first generation of the Internet is the TCP/IP protocol, which is an open code that implements a unified format for peer-to-peer transmission of information by all nodes on the network, and brings the basic values ​​of freedom and equality required by a global unified market into programmed, protocol-based, and reliably Execution. The Internet eliminates low-value, high-cost intermediate chains and achieves low-cost and high-efficiency global information transmission in a decentralized manner.
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However, the first generation of the Internet did not solve the problem of information credibility. Activities that can be decentralized on the Internet must be activities that do not require credit endorsement, and activities that require credit guarantee must be activities involving centralized third-party intermediaries. Therefore, Internet technology that cannot establish global credit has encountered great obstacles in its progress - people cannot participate in any value exchange activities on the Internet in a decentralized manner. To achieve value exchange, people still need third-party intermediaries based on credit (Such as banks, clearing agencies, exchanges). The global centralized credit system still has problems such as high operating costs, low efficiency, and vulnerability to attacks and damage. For example, each country's legal currency has different credit values ​​and incompatible clearing systems, which adds a lot of cost to global trade.
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Therefore, what the second generation Internet must break through is: how to establish global credit in a decentralized manner? Let...>>

Question 2: What is blockchain? What does it mean in layman’s terms? What is China’s attitude towards blockchain? What can blockchain do? Blockchain, a great technology that accompanied the birth of Bitcoin, is currently being used in the financial field to significantly reduce transaction costs and improve efficiency, which is enough to excite Wall Street. However, this is just the tip of the iceberg. Its potential applications are very broad and will subvert every aspect of our lives in the future.
Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. One of the most basic characteristics of Bitcoin is decentralization. In recent months, financial giants have gradually begun to pay attention to Bitcoin's technology and used it in non-monetary fields, such as stock trading, election voting, etc. (1) Art Industry
Artists can use blockchain technology to declare ownership and issue numberable, 100% edition works in digital form for any type of artwork. It even includes a marketplace where artists can buy and sell through their website without the need for any intermediary services.
(2), Real estate industry
Use blockchain technology to solve various problems faced by everyone involved in real estate, including the naming process, land registration, agency intermediaries, etc.
(3), Insurance Industry
The financial industry has always been the most sensitive to advanced technology. Traditional banking and securities industry giants have been involved in the booming blockchain venture capital investment since 2014, with total global investment reaching US$1 billion within two years.
(4) P2P wallet
Personal assets can be traded through this P2P wallet in the future without going through any central institution, such as Bitcoin.
Most blockchains are in their infancy, mainly overseas. There are very few good domestic blockchain projects, so it is not recommended for any non-professionals to invest in blockchain projects. If you are very interested in blockchain technology and have a technical or financial background, it is recommended that you consider starting a business in this area. In terms of the blockchain protocol system, the lowest layer is the underlying technology of the blockchain, including the technical protocols of the blockchain, as well as some platform routing and basic algorithms; in the middle layer, some application interfaces and some credentials must be solved Issuance and verification, including some industry platform services, big data analysis, etc., this isThis is a very rough classification, and there should be a more detailed classification; the top ones are some applications of blockchain, including some financial applications and other applications, the Internet of Things, etc.
Introduction to Bubi Blockchain
Bubi Blockchain has been focusing on the research and development and innovation of blockchain technology and products since its establishment. It has a number of core technologies and has achieved substantial results in many aspects. Radical innovation has resulted in a number of core technological achievements, such as: mathematically provable distributed consensus technology, fast large-scale ledger access technology, multi-chain general ledger technology that supports business expansion, and interconnection technology between heterogeneous blockchains. wait. On April 25, "Gege Points" introduced the concept of blockchain into the points system, jointly opened it up with multiple parties, issued and redeemed points, and promoted the circulation of points. Each cooperative institution can jointly participate in transaction verification, ledger storage, and real-time settlement; the third-party payment platform of the enterprise points issuer makes the entry and exit of points more flexible. Bubi has developed its own basic blockchain service platform, which has been applied in equity, supply chain, points, credit and other fields. Bubi has been committed to building an open value circulation network with decentralized trust as the core, allowing digital assets to flow freely.
A simple understanding of blockchain is a technology at the bottom of Bitcoin, which is also a peer-to-peer electronic cash system that can realize peer-to-peer value delivery. We should distinguish between Bitcoin, Bitcoin blockchain, blockchain and blockchain. Blockchain technology and other concepts. In countries with relatively developed finance in the past, finance and blockchain technology have a long history, and the legislation of digital currencies and blockchain networks is also very important. With the advent of the financial era, large financial institutions are studying blockchain technology. They have their own teams and conceptual technologies. Slowly, banks in various regions are also participating in digital currency discussions. The application and support of this technology are not only that. The influence of blockchain on enterprises is also huge. For larger domestic enterprises, Bubi Blockchain is also used in various equity, supply chain, points and other fields. Major domestic financial institutions and enterprises have taken a fancy to the new industry. value, they have developed their own blockchain platforms, and blockchain has instantly become a new innovative industry in China. In terms of overseas internationalization, the United States has already obtained 15 blockchain patents at the end of last year compared to China. Blockchain financial applications are entering a new stage in an all-round way. Various applications will become more and more in-depth, and related changes will also become more and more profound. It has attracted more and more attention and will form a huge new trend... >>

Question 3: What is blockchain technology? What exactly is blockchain? What is blockchain? 1. Data blockchain is an important concept in the Bitcoin financial system. It records transaction record data on the entire Bitcoin network, and these data are shared by all Bitcoin nodes. Through the data block, we can query each transaction record. A look at the history of Bitcoin transactions. 2. Example: There are three persons A, B, and C. All funds of A and B are kept by C. And every financial transaction must be recorded by C. Now suppose A andB each has 1 million for safekeeping by C. Then: A spends 80,000 yuan to B, then C's account book record will subtract 80,000 yuan from A's name, and add 80,000 yuan to B's name. If B transfers 50,000 yuan to A, C will add 50,000 yuan to A's name and subtract 50,000 yuan to B's name in the account book. A spends 50,000 yuan to B, then C's account book record will subtract 50,000 yuan from A's name, and add 50,000 yuan to B's name. 3. The role of the data blockchain is similar to that of C’s account record book. It records the user’s ownership of Bitcoin and the records of all users’ Bitcoin transactions. It’s just that this “account record book” is recorded by the mining software of every Bitcoin miner on the network. If a Bitcoin transaction is confirmed by the data blockchain, the relevant information will be recorded in the data blockchain. Bitcoin’s “account record book” is called the data blockchain. All data blockchains on the network form Bitcoin’s distributed network database system. 4. The essence of data blockchain technology is a decentralized and distributed structure of data storage, transmission and certification methods. It uses data blocks to replace the current Internet's dependence on central servers, so that all data changes or transaction items are recorded. On a cloud system, the self-certification of data during data transmission is theoretically realized. In a far-reaching sense, this transcends the traditional and conventional information verification paradigm that relies on a center and reduces the cost of establishing global "credit." This point-to-point verification will produce a "basic protocol", which is a new form of distributed artificial intelligence and will establish a new interface and shared interface between human brain intelligence and machine intelligence.

Question 4: What is blockchain: This explanation of blockchain is more understandable. Blockchain refers to a technology that collectively maintains a reliable database through decentralization and trustlessness. plan.
In layman’s terms, blockchain technology refers to a way for all people to participate in accounting. There is a database behind all systems. You can think of the database as a big ledger. Then who will keep this ledger becomes very important. Currently, whoever owns the system keeps the accounts. Tencent keeps the accounts of WeChat, and Alibaba keeps the accounts of Taobao. But now in the blockchain system, everyone in the system has the opportunity to participate in accounting. If there are any data changes within a certain period of time, everyone in the system can do accounting. The system will judge the person who has the fastest and best accounting during this period, write his recorded content into the ledger, and record this Within a period of time, the contents of the ledger are sent to all other people in the system for backup. In this way, everyone in the system has a complete ledger. In this way, we call it blockchain technology.
Blockchain technology has become the darling of the financial community in China and has become a hot topic. Domestic Puyin Group has launched Puyin, a tea-based digital currency.

Question 5: Explain clearly what is blockchain in an easy-to-understand manner BlockchainIn a sense it can be understood as a database system. The development of blockchain can be divided into 1.0 and 2.0
1.0 is represented by Bitcoin, and its main application is virtual currency or digital currency application. The blockchain at this time can only be used for simple digital currency transactions.
2.0 is represented by the now popular ethereum (Ethereum) and the upcoming hyperledger. The blockchain at this stage can not only meet the corresponding digital currency transactions, but also use smart contracts to customize currency or asset transactions. If we use the database analogy, the emergence of smart contracts can be understood as allowing users to define functions or stored procedures in the database and call and execute them.
Different from traditional databases, the blockchain introduces consensus mechanism, incentive mechanism, p2p (network), hash and other specific elements, making it open, decentralized and non-tamperable. characteristic.

Question 6: What is blockchain? Can anyone explain it in simple terms? Blockchain is the underlying technology of Bitcoin. It is like a ledger that records all transactions. It is decentralized. What is decentralization? For example, when you buy something on Taobao, you place an order and pay in Alipay. Alipay will not transfer the money to the seller until you receive the goods. Alipay is the third party in that center. Without it, it means decentralization, just like buying things offline. If you pay with one hand and get the goods with the other hand, there is no third party.
The blockchain itself is a series of cryptographically related data blocks generated.
Look carefully to see if it looks like a ledger. The pieces one by one are blocks, and connected together they are the blockchain.
Many companies are developing this technology, including ours, and its prospects are incredible. For details, you can go to our official website and hope to adopt it, thank you

Question 7: What is blockchain technology? What is blockchain? How to explain the concept of blockchain? People in each industry have different understandings, and relevant explanations are gradually emerging due to more and more real-life applications. With the popularization of this blockchain technology, the related results are getting bigger and bigger. If we want to understand this technology, we must have an in-depth understanding of reality.
In the past six months, the concept of blockchain has gradually become popular in China, and a blockchain whirlwind has taken off in the financial circle. Blockchain has attracted the attention and favor of more and more people in the industry due to its unique technical advantages. Blockchain technology, which is decentralized (or multi-centered), highly transparent, cannot be tampered with, and has no single point of failure, is entering the field of vision of financial institutions and enterprises. It has at least been used in digital currency, payment exchange, registration and settlement, Digital assets, traceability and anti-counterfeiting, supply chain, Internet of Things and many other fields have moved from theoretical discussions to practical applications.
“Blockchain"Bitcoin" was first released in early 2009. Blockchain has become the basic protocol and technical application for the launch, recording, and circulation of Bitcoin. Although Bitcoin has been controversial since its introduction, it still cannot even be hacked and Monetary authorities regard it as "currency", but the blockchain technology used in Bitcoin has received widespread attention, including from the government and monetary authorities.
Why blockchain has become a rapidly heating up hot technology And topics?
The most important of these may be that Bitcoin, launched on the basis of blockchain technology, has opened up a new type of technology that has little connection with traditional society (offline) and is completely applicable to the online world (online). (above), the exploration and attempt of new technologies and rule systems such as Internet user identity verification, wealth confirmation, transaction records, notarization and verification, etc., and this provides people with optional paths and unlimited imagination to adapt to the development of the Internet society.
From Judging from its application in Bitcoin, blockchain is a combination of encryption technology and Internet technology to form a new set of network blocks (BLOCK, also called communities) establishment, Bitcoin configuration, netizens Identity verification, as well as Bitcoin (value) confirmation formed by mining, Bitcoin transaction records, and extended encryption of Bitcoin cross-block flow (value transfer) (adding factors such as block and transaction time marks) registration and verification Verification, etc., block connection (Blockchain), full encryption, mutual authentication Internet protocol rules and accounting (Ledger) system. Precisely because Bitcoin is not a substitute for offline legal currency, but It is a new, decentralized online currency (virtual currency) that is issued and managed by non-legal currency authorities. It mainly imitates the model of gold and is completely protected and supported by Internet basic protocols and strict encryption technology. This has also formed a It sets new currency rules and systems that are different from and not subject to real social laws, and can be bought, sold or exchanged with legal currency. It has been more than 8 years since Bitcoin was launched, and there has been no case of funds or user information being stolen. Records, its security has been verified, and its efficiency and cost of fund settlement also have obvious advantages. This has made people's confidence in the blockchain technology applied by Bitcoin continue to increase, and people have become more and more aware of ,Although blockchain is a technology and protocol pioneered and applied by Bitcoin, blockchain is not the same as Bitcoin, and its application is never limited to Bitcoin. The application of blockchain can be It can be decentralized or centralized; it can be a public chain model or a private chain model. Therefore, after Bitcoin, blockchain technology is also constantly developing and innovating, and is constantly exploring new application areas. Especially its application in the financial field.
The reason why more and more people attach great importance to blockchain is because the development and widespread application of the Internet have caused more and more economic exchanges and transaction activities to Conducted online, the online world (or online society) is rapidly expanding, enriching and active, and the onlineThe transaction must solve the efficiency and security protection issues of the parties' identity verification, value verification, transaction records, inspection and verification, etc., and requires strict intermediaries and agreements (rules or constitutions). In this regard, traditional thinking and customary practices are to follow the development trajectory of the transfer of offline transactions to online and push the common rules and practices of the real (offline) society to the online (network) society. However, in practice, it is increasingly It is difficult to adapt to the needs of online transactions.
For example, for the identity verification of the parties, the natural choice is to use the information on the identity documents protected by the laws of various countries as the basis, and then add account or transaction passwords, as well as facial recognition, iris, fingerprints and other biometrics to conduct online transactions. Verification, but this method first makes the citizen identity information in the cross-border interconnected online world subject to the administrative jurisdiction of real society... >>

Question 8: Easy to understand Explain clearly what is blockchain. The English name of blockchain is Blockchain. Block literally means block, block, and chain means chain, chain. Therefore, together they are translated into blockchain.
1. Use cryptography technology to encrypt and decrypt so that records cannot be tampered with. Common blockchain encryption methods include hash algorithm, RSA algorithm, elliptic curve algorithm, etc.;
2. The huge amount of calculation needs to be supported by a reasonable reward mechanism. Because every transaction must be recorded, Bitcoin’s blockchain has more than 60 gigabytes so far. Every new transaction requires confirmation of the information related to the trading account to ensure that the transaction is valid. The huge amount of calculation requires a computer with powerful computing power to complete.
In order to encourage the participation of powerful computing power, Bitcoin provides two rewards: one is to issue a certain number of Bitcoins to these computers every day; instead, all transfer fees are awarded to these computers. (The technical term for these computers is "mining machines", and the people who hold the mining machines are called "miners".)
Biying China is working hard on the digitization of assets and has launched the digital currency crowdfunding platform Biying China.

Question 9: What is the so-called "blockchain"? Blockchain itself is a tool called decentralization and trustlessness. For example, when you graduate from university, the current practice is to have a certificate recognized and issued by an authoritative agency as your certificate. This setting is more troublesome, because this is a piece of paper, and paper can be forged, so there will be various gaps. The issuing authority is also a person, and there will be various gaps in the middle. As long as it is related to people, whoever There are various possibilities related to media. The blockchain provides a great opportunity. As soon as you graduate, you will have a record on the blockchain. No one can change this record. This thing exists objectively. You, as a physical existence , and then as a data existence, the blockchain was born. SuchIf you want to check where you graduated from, you can easily solve this problem. This is similar to the big data often involved in social networking (WeChat) and payment platforms (Alipay, Yibao).

Question 10: What does blockchain mean? Regarding blockchain, I think you have already seen the concept on the Internet. Let me explain it based on my understanding!
First, let’s talk about its characteristics: 1. Openness and transparency 2. Decentralization 3. Anonymity 4. Information cannot be tampered with, eliminated 5. No trust cost
Blockchain is like a public ledger , everyone has the right to record and read, and everyone will jointly supervise to ensure its accuracy, and the recorded content will be permanently saved, and can only be added but not deleted! However, as the number of blocks continues to increase, costs will increase and efficiency will decrease. (I’m not sure whether technology can be used to make up for this. I hope someone who understands technology can point it out.)
Blockchain is divided into public chain, private chain, and alliance chain. Public chain: accessible to everyone, everyone has read and write permissions, completely open, transparent and decentralized. Private chain: Open to individuals or institutions, in which the owner of the private chain can set various permissions to make it partially centralized. Alliance chain: Open to specific organizations or groups, it is also "partially decentralized". According to the ledger at the beginning, members can view and transact, but cannot record and confirm bills, or require permission from the alliance. (The latter two do not have cost and efficiency issues)
Regarding blockchain, countries have begun to recruit talents in this area. For this, you can search online for "Central Bank Recruiting Digital Currency R&D Personnel". In addition, you can increase your understanding of blockchain by understanding its existing applications. What we usually refer to generally refers to public chains. Currently, those used abroad include Bitcoin, Ethereum and other domestic blockchains. Chain
1. Open and transparent: Every piece of data is verified by everyone and can be viewed by everyone at any time.
2. Decentralization: For example, when we shop on Taobao, we conduct transactions through the intermediary Taobao, and blockchain allows both supply and demand parties to directly contact each other for direct transactions through blockchain technology.
3. Anonymity: No personal privacy information is required to complete transactions on the blockchain, only your unique alphanumeric signature is required.
4. Information cannot be tampered with or deleted: Once the data has been verified and recorded, no one has the authority to modify it, let alone delete it!
5. No trust cost: The trust crisis in reality will not appear in the blockchain. Transactions in the blockchain do not require you to trust the other party. Only when both of you have enough "digital assets" to trade can it be carried out, and Under the supervision of the entire network, transactions will not be broken. If you have no idea about the cost of trust, just think about how many intermediaries there are in your city, or just think about Jack Ma, and you will know how big the cost of trust is.
I am still learning more about blockchain, my name is Li Ailin, if you have any questions, you can discuss it together and learn together!

㈥What exactly is blockchain

What is blockchain?
Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. The so-called consensus mechanism is a mathematical algorithm that establishes trust and obtains rights and interests between different nodes in the blockchain system [1].
Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. The blockchain is a series of data blocks generated using cryptographic methods. Each data block contains information about a Bitcoin network transaction and is used to verify the validity of its information (anti-counterfeiting) and generate the next block.
Blockchain was born from Satoshi Nakamoto’s Bitcoin. Since 2009, various Bitcoin-like digital currencies have appeared, all based on public blockchains.
The current situation of digital currency is that a hundred flowers are blooming. Here are some common ones: bitcoin, litecoin, dogecoin, dashcoin. In addition to currency applications, there are also various derivative applications, such as Ethereum, Asch and other underlying application development platforms, as well as NXT , SIA, BitShares, MaidSafe, Ripple and other industry applications.
On January 20, 2016, the People’s Bank of China Digital Currency Seminar announced that it had achieved phased results in digital currency research. The meeting affirmed the value of digital currency in reducing the issuance of traditional currency and stated that the central bank is exploring the issuance of digital currency. The expression of the People’s Bank of China’s Digital Currency Seminar has greatly enhanced the confidence of the digital currency industry. This is the first time that the five central bank ministries and commissions have expressed a clear attitude towards digital currencies since they issued a notice on preventing Bitcoin risks on December 5, 2013. [4]
On December 20, 2016, the Digital Currency Alliance - China FinTech Digital Currency Alliance and FinTech Research Institute were officially established, with Huobi being one of the co-initiators. [5]
Some areas where blockchain can be used are:
▪ Smart contracts
▪ Securities trading
▪ E-commerce
▪ Internet of Things
▪ Social communication
▪ File storage
▪ Proof of existence
▪ Identity verification
▪ Equity crowdfunding
We can compare the development of blockchain to the development of the Internet itself In the future, something called finance-internet will be formed on the Internet, and this thing is based on blockchain, and its precursor is bitcoin.That is, traditional finance starts from the private chain and industry chain (local area network), and the bitcoin series starts from the public chain (wide area network). They all express the same concept - digital assets (Digital Asset), and finally converge to an intermediate balance point.
The evolution of blockchain is:
▪ Blockchain 1.0 - digital currency
▪ Blockchain 2.0 - digital assets and smart contracts
▪ Blockchain 3.0 ——The implementation of distributed applications in various industries
Blockchain is divided into three categories, which is introduced in detail in the book "Blockchain: Defining the New Pattern of Future Finance and Economics" [2] issued by Currency, < br />Hybrid blockchains and private blockchains can be considered as broad private chains:
Public Blockchains (PublicBlockChains)
Public blockchains refer to: any individual or group in the world Transactions can be sent and effectively confirmed by the blockchain, and anyone can participate in its consensus process. The public blockchain is the earliest blockchain and the most widely used blockchain. The virtual digital currencies of all major bitcoins series are based on the public blockchain. There is only one blockchain corresponding to this currency in the world. .
Consortium (Industry) Blockchain (ConsortiumBlockChains)
Industry Blockchain: Multiple preselected nodes are designated within a certain group as bookkeepers, and the generation of each block is jointly performed by all preselected nodes. Decision (pre-selected nodes to participate in the consensus process), other access nodes can participate in transactions, but do not participate in the accounting process (essentially still managed accounting, just become distributed accounting, how many pre-selected nodes, how to determine the number of each block The bookkeeper becomes the main risk point of the blockchain), and anyone else can conduct limited queries through the open API of the blockchain.
Private Blockchain (privateBlockChains)
Private Blockchain: Only uses the general ledger technology of the blockchain for accounting. It can be a company or an individual, and has exclusive access to the writing of the blockchain. With access permissions, this chain is not much different from other distributed storage solutions. (Dec2015) Conservative giants (traditional finance) all want to experiment with private blockchains, while public chain applications such as Bitcoin have been industrialized, and private chain application products are still being explored.

㈦ Does the country support blockchain?

Legal analysis: As a new technology, blockchain is a new technology. Countries around the world have corresponding policies to support its development, with a wide range of radiation - from Judging from this year, more than half of the provinces and cities across the country have included blockchain in the 2020 government work report. In addition to first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, central and western cities such as Gansu, Ningxia, and Xinjiang have also joined the blockchain technology research and application camp. Developed cities in the east continue to play a leading role in technological research and application innovation; cities in the central and western regions adapt to local conditions and combineNew technologies accelerate digital economic transformation. Strong support - this year the Central Bank, the Ministry of Transport, the State Administration of Foreign Exchange, the State Administration of Radio, Film and Television, the Ministry of Justice, the Ministry of Agriculture and Rural Affairs, etc., have respectively proposed the use of blockchain technology to accelerate the development of applications in various fields. Many other provinces and cities have also continued to introduce new policies, most of which are special support policies for blockchain. It is expected to build more industrial parks and open up more government application scenarios. The direction is clearer - there are clearer details under the general direction of blockchain assisting the transformation and upgrading of traditional industries and empowering the digital economy. Application scenarios such as transportation, agriculture, intellectual property, and certificate storage have become the first batch of experimental directions. In terms of government affairs, it is an important breakthrough and has been implemented. Beijing City’s “innocent approval”, Jiangxi Province explores “blockchain + undocumented handling”, Fujian Province implements the “on-chain government affairs” project, and Gansu Province accelerates the construction of “Digital Gansu”. ”, Shandong and Hainan are all committed to e-government and other fields. It is foreseeable that the future blockchain e-government scenario is worth looking forward to.

Legal basis: "Blockchain Information Service Management Regulations"

Article 3 The Cyberspace Administration of China is responsible for the supervision, management and law enforcement of nationwide blockchain information services in accordance with its duties. The Internet Information Offices of provinces, autonomous regions, and municipalities directly under the Central Government are responsible for the supervision, management and law enforcement of blockchain information services within their respective administrative regions according to their responsibilities.

Article 4 encourages blockchain industry organizations to strengthen industry self-discipline, establish and improve industry self-discipline systems and industry standards, guide blockchain information service providers to establish and improve service specifications, promote the construction of industry credit evaluation systems, and supervise blockchain information Service providers provide services in accordance with the law, accept social supervision, improve the professional quality of blockchain information service practitioners, and promote the healthy and orderly development of the industry.

Article 5 Blockchain information service providers shall implement information content security management responsibilities and establish and improve management systems for user registration, information review, emergency response, and security protection.

Article 6 Blockchain information service providers shall have technical conditions suitable for their services, and shall have immediate and emergency response capabilities for the release, recording, storage, and dissemination of information content prohibited by laws and administrative regulations. , technical solutions should comply with relevant national standards and specifications.

Article 7 Blockchain information service providers should formulate and disclose management rules and platform conventions, sign service agreements with blockchain information service users, clarify the rights and obligations of both parties, and require them to promise to abide by legal regulations and platform conventions.

㈧ What does the central bank think of pi coins?

The central bank is a digital currency (legal digital currency) issued in the form of a state. This is a centralized blockchain accounting method (also a mandatory means). Directly crack down on behaviors that violate the will of the state in accordance with the will of the state. Legal digital currencies are likely to be recognized regionally by directly converting existing monetary assets (or future income) of individuals or legal persons into equal exchanges.

If the above is completely true, it will be of great significance to the country, because the assets of the country, legal entities and individuals will be fully liquidated, and invisible monetary assets will be completely exposed or disappear out of thin air.

Centralized legal numbersThe currency system serves politics, and the decentralized digital currency system serves the economy. The two can work together to serve the entire society. Not only will it not make digital currencies such as Bitcoin disappear, but it will promote their more rapid development. The reason is the expansion of differences in individual value orientations in society.

The central bank is a digital currency (legal digital currency) issued by the state. This is a centralized blockchain accounting method (also a coercive means), which can be used according to the will of the country. Directly crack down on behavior that goes against the will of the state. Legal digital currencies are likely to be recognized regionally by directly converting existing monetary assets (or future income) of individuals or legal persons into equal exchanges.

If the above is completely true, it will be of great significance to the country, because the assets of the country, legal entities and individuals will be fully liquidated, and invisible monetary assets will be completely exposed or disappear out of thin air.

The centralized legal digital currency system serves politics, and the decentralized digital currency system serves the economy. The two can work together to serve the entire society. Not only will digital currencies such as Bitcoin not die out, but it will promote their more rapid development. The reason is the widening of differences in individual value orientations across society.

㈨ How many "thorns" will be encountered on the road to digital currency issuance?

(1) Issues in the implementation of legal digital currency technology

Blockchain is private The core technology of digital currency also provides ideas for the technical implementation of my country’s legal digital currency. In 2017, the People's Bank of China successfully tested a digital bill trading platform based on blockchain technology, and in 2018, it successfully tested a blockchain trade financing platform. Our country has further strengthened its research on central bank digital currency in the blockchain area. However, there are technical shortcomings in the legal digital currency based on the blockchain, which makes the safe development of our country's legal digital currency have technical loopholes.

Legal digital currency has technical implementation difficulties, and the underlying technology of legal digital currency based on blockchain is not mature. First of all, the blockchain is a chain of transaction information records arranged strictly in chronological order and cannot be tampered with. Based on this characteristic, the accuracy and integrity of data recorded in the blockchain are strong. However, once the technical network is breached by hackers, this irreversible characteristic will cause irreversible economic losses to users. Secondly, my country has a large population and uneven economic development levels, which poses challenges to legal digital currency in achieving cross-regional, high-frequency, large-amount transactions and rapid system response.

At present, the blockchain data processing speed is only 6.67 times/second, with long synchronization time, large data redundancy, and low system throughput; and the maximum traffic peak of Tmall during the "Double 11" in 2020 can be Reaching 583,000 transactions/second. The transaction frequency of blockchain is far from meeting people's daily payment needs and large-scale transactions of stable digital currencies in the future. Finally, there are problems in the implementation of legal digital currency technology. my country’s legal digital currency has great advantages in theoretical analysis, but in practiceAmong them, whether it can quickly collect, process, monitor and analyze massive data, and implement efficient and accurate programmable operations is also one of the problems currently faced by legal digital currencies at the technical level.

There are also technical difficulties in the circulation environment of legal digital currency. The promotion of legal digital currencies requires the support of corresponding software and hardware infrastructure, the establishment of a broad circulation platform, and compatibility with digital currencies on the basis of the original business. First of all, my country’s support for professional and technical personnel and terminal equipment is relatively scarce. The basic database is seriously fragmented and the phenomenon of “data islands” is obvious. It is even more difficult to promote legal digital currency. Secondly, legal digital currency circulation outlets need to spend a lot of money. Labor costs, capital and time costs are used to upgrade technology, software and hardware facilities. The upgrading of digital currency payment machines by enterprises, merchants and other major financial service institutions will take some time for the public to adapt. This not only increases economic operating costs and causes efficiency losses, but also makes it difficult to build a legal digital currency circulation environment in a short period of time.

(2) The impact of legal digital currency on traditional commercial banks

my country's legal digital currency will adopt a "central bank-commercial bank" two-tier investment model, with the central bank issuing currency and passing Commercial banks provide exchange and circulation services to the public. This binary model digital technology will inevitably cause innovation in the financial system and monetary system, which will create transformation pressure on the business philosophy, business model, and business environment of my country's traditional commercial banks. First of all, this is reflected in the traditional cash business of commercial banks. Based on the positioning of legal digital currency, the currency in circulation, namely M0, will be mainly replaced.

This will have a huge impact on the cash transfer, escort, circulation, and counterfeit banknote businesses of commercial banks. The demand for traditional cash counting, teller and other positions will be reduced, reshaping the management system of commercial banks, and at the same time increasing business Banks are under pressure to absorb deposits. Secondly, due to the emergence of digital currency, cash liquidity in the commercial banking system will gradually decline. The existing technical system cannot meet the operating space of legal digital currency, which will put higher requirements on the basic information system of commercial banks. At the same time, the main functions of commercial banks will shift to agents and other roles, greatly reducing their profit margins.

The development of legal digital currencies has impacted the credit system of commercial banks, increasing the pressure on demand deposits and greatly reducing the space for money creation. The central bank plays a role in regulating and supervising commercial banks. The issuance of legal digital renminbi has added a layer of competition between the central bank and commercial banks. When the economy is depressed or the economic environment is unstable, people are more likely to store their currencies in the central bank's credit system and convert their deposits into legal digital currencies to avoid risks. The emergence of legal digital currency will cause the scale of current deposits of commercial banks to decrease, cash leakage to increase, financial disintermediation to accelerate, the currency multiplier to weaken, and the ability of commercial banks to create credit money to decline, leading to a decline in the overall liquidity of society.

Quorum numberThe application of digital currency will greatly reduce people's desire to hold cash, increase the conversion rate of financial assets, and increase the instability of the assets and liabilities of commercial banks. Legal digital currencies make it easier for the public to convert deposits and financial assets, blurring the boundaries between deposits and currencies. Customers can perform frequent digital currency exchange operations, which increases the requirements for bank deposit reserve scale, thus affecting commercial banks. The supply of credit has made its operating environment more severe.

(3) Ethical issues in the application of legal digital currency

Legal digital currency will surely be another profound change in the history of currency development, but there are still ethical issues in its design and application. The ethical issues of digital currency technology mainly include two aspects: First, there are moral and ethical issues such as thinking concepts, value trends, and interest needs in digital currency technology design issues; second, the commercial application process of digital currency has value tendencies, and the digital divide is becoming increasingly serious. affect the distribution of social resources.

There is a capital value orientation hidden behind the technical algorithm of legal digital currency. The existence of digital currency is value-laden, that is, people with different value judgments will design different rules for using digital currency, or will choose different code rules to solve problems. The design of digital currency itself has a strong subjective bias. Fundamentally, it is human will that determines the generation and development of currency numbers. The design of digital currency programming technology will initially comply with the interests of capitalists and is a subjective reflection of the designer. It will inevitably be subject to discrimination and deviation due to the value tendency of developers. Legal digital currency is based on national credit, and its security and stability are higher than private digital currency. However, in the circulation and use of currency, value and ethics issues will still arise, and the degree of harm will be higher and the scope will be wider.

Legal digital currency will also have value and ethical issues in specific commercial applications. First of all, in the process of constructing a monetary system with traditional commercial banks and financial institutions such as Internet finance, issues such as technological and ethical anomie will arise. For example, in the process of establishing intelligent information systems, the deviant behavior of technical personnel is concealed and difficult to monitor, lurking technological and ethical risks. Secondly, as people's trust in technical tools increases, technical rationality will weaken people's thinking about value rationality, and the problem of neglect of humanistic care caused by the rapid development of science and technology has gradually emerged.

Behind the efficient practical results brought by technological tools is the neglect of rational concerns about values ​​such as responsibilities and obligations, morals and ethics. Will the emergence of legal digital currency widen the gap between the rich and the poor in science and technology? Will the technological dilemma faced by my country's elderly become more serious? Will poor and remote areas catch up with the digital currency train and achieve technological leaps, or will they become increasingly involved with this artificial intelligence technology? Is the era of intelligence further derailed? In the era of digital economy, the aphasia of marginalized groups is serious, and resource allocation is also biased towards groups on the commanding heights. The digital divide is gradually widening, affecting the fairness of social governance.In fairness and justice, the promotion of legal digital currency faces serious ethical challenges.