石油交易区块链

石油交易区块链是一种利用分布式账本技术构建的全球性油气交易平台，它可以实现石油交易的快速、安全、便捷、透明的管理。本文将介绍石油交易区块链的三个关键词：去中心化、可信计算和智能合约。

去中心化是石油交易区块链的核心概念，它是指没有中央实体控制的分布式网络。在石油交易区块链中，去中心化可以让用户可以直接参与交易，不需要通过中央实体，从而提高交易的安全性和可信度。此外，去中心化也可以有效地降低交易成本，提高交易效率。

可信计算是石油交易区块链的另一个核心概念，它是指在分布式网络中，可以安全地执行复杂的计算任务，从而确保数据安全和完整性。石油交易区块链通过分布式账本技术，可以实现可信计算，从而确保交易的安全性和可靠性。此外，可信计算还可以提供更灵活的计算模型，可以更好地满足石油交易的需求。

智能合约是石油交易区块链的另一个重要概念，它是指利用区块链技术构建的可以实现自动执行的合约。石油交易区块链通过智能合约可以实现交易的自动化，从而极大地提高了交易的便捷性和可靠性。此外，智能合约还可以更好地保护双方的权益，避免出现纠纷等问题。

石油交易区块链是一种利用分布式账本技术构建的全球性油气交易平台，它可以实现石油交易的快速、安全、便捷、透明的管理。本文介绍了石油交易区块链的三个关键词：去中心化、可信计算和智能合约，这些关键词可以极大地提高石油交易的安全性、可信度和可靠性，为石油交易提供更好的服务。

❶ Implications for the use of blockchain in oil trading

We may be facing the dawn of a revolution that begins with a new, fringe Internet economy. Klaus Schwab, founder of the World Economic Forum (Davos Forum), said that since the invention of the steam engine, electricity and computers, people have ushered in the fourth industrial revolution - the digital revolution, and Blockchain technology is the result of the fourth industrial revolution. As the next generation of trusted Internet, blockchain will surely subvert all businesses above it and completely revolutionize and innovate the entire Internet-based enterprises, ecology, and industrial chain. Jack Ma once said: "Many people haven't figured out what the PC Internet is. The mobile Internet is coming. Before we figured out the mobile Internet, the era of big data is coming again." Now, can we add a sentence at the end? : "People haven't figured out what big data is yet, and blockchain is here again."
Blockchain is essentially a decentralized distributed ledger database, the underlying technology of Bitcoin, and Bitcoin It is a relationship of companionship. Blockchain automation can reduce payment costs and shorten processing times, while the decentralized and open features help innovate within the platform and improve security. Financial institutions such as Goldman Sachs, Citigroup, and Nasdaq are actively exploring the application of blockchain in the financial field, and are vigorously deploying blockchain technology companies related to financial transaction clearing.
The "Wall Street Journal" hailed blockchain technology as the most important innovation in the financial field in "500" years. "William Gibson once said: "The future has already happened, it just hasn't caught on yet. "I believe that blockchain technology can lead the development of the computer and Internet fields in the next 5 to 10 years. We can already vaguely hear the thunder of revolution set off by blockchain technology in the near future.
We often say , Bitcoin and other electronic currencies with blockchain technology as the core are the main branches and manifestations of the technological finance that is exploding in full swing. If artificial intelligence robots will subvert almost all businesses of traditional banks, then digital currencies, especially blockchain Digital currencies such as Bitcoin with technology as the core will subvert central banks around the world. This will be a revolutionary and subversive event in the history of world financial development.
No, just when we were describing and talking about blockchain technology, something came out Blockchain technology has begun to be used in oil trading.
In late March 2017, Trafigura and Natixis, a trading company, were looking for cheaper ways to streamline trade processes and jointly tested the zone The application of blockchain to trading in the U.S. oil market shows how digital technology could transform crude oil trading. Since November 2016, Trafigura and Natixis have been simulating blockchain operations using crude oil trading channels in Texas. The technology can eliminate the need for oil trade such as throughEmail or fax contracts, letters of credit, inspections and other tedious paperwork.
Arnaud Stevens, global head of energy and commodities at French bank Natixis in New York City, said: "The purpose of using blockchain is to integrate work processes. Moreover, blockchain can also reduce time costs in oil trading."
This attempt is the first attempt of blockchain in the US oil market. In January 2017, Marco Dunand, CEO of Swiss Mercuria Energy Group, revealed in an interview with Reuters that the group had previously used blockchain technology to sell crude oil from Africa to China.
Blockchain is essentially a decentralized distributed ledger database. Blockchain automation can reduce payment costs and shorten processing times, while the decentralized and open features help innovate within the platform and improve security. This is the direct benefit and purpose of using blockchain technology in oil trading. Christophe Salmon, Chief Financial Officer of Trafigura, said: "Major oil traders and refiners should widely adopt blockchain technology. We expect that more people will see the potential business benefits of blockchain."
Another The head of a major commodities trader said: “Trade finance provided by banks in the form of distributed ledger databases such as blockchain can significantly reduce costs and improve security.”
Trafigura and Natixis Bank About The test of blockchain in oil trading is led by IBM. James Wallis, vice president of the blockchain technology company, said frankly: “This test does not actually require a lot of manpower and material resources.”
Mr. Stevens also said: “A huge trade network must be established so that the blockchain can be more efficient. Well integrated into the crude oil market. Currently, Natixis Bank has started discussions with oil traders and other commercial banks on how to use blockchain."
This kind of decentralization, transparency, openness, supervision, and traceability Characteristics such as this have marginalized traditional sovereign currencies. The huge significance behind this is as Kevin Kelly, the most famous "prophet" in the Internet field, pointed out in the book "Out of Control" that the trend of the future world is decentralization. Adam Smith's "invisible hand" is a good summary of the decentralized nature of the market. The straight-line distance between points is the shortest, and the best mode of communication between people should also be direct communication. No matter which aspect you approach, the nature of the decentralized market is irrefutable.
Point-to-point straight line, decentralization, elimination of multiple links, sharing and symbiosis, transparent and open resource integration and allocation, visible and supervised by everyone, these can only be achieved by Internet big data and blockchain technology.
Human beings pass byAfter thousands of years of complex interpretation and evolution, it is indeed "too tiring". Industry 4.0 technology and the digital revolution represented by the Internet, big data, cloud computing, blockchain technology, artificial intelligence, etc. may bring mankind back to the "advanced primitive society" where relationship transactions are simple. This may be the biggest change, revolution and subversion that the digital revolution has brought to us.
The trend of the future world is decentralization! Blockchain may be an innovative technology to achieve decentralization, and decentralization took the lead in technology and finance.

❷ Dahua Blockchain-defi

This bull market can be said to be driven by Defi and NFT, which play a big role in cryptocurrency. Let’s introduce what is going on Defi.

Decentralized finance (English: Decentralized finance, commonly known as DeFi) is a kind of finance based on the blockchain. It does not rely on financial institutions such as securities firms, exchanges or banks to provide financial instruments, but uses regional Smart contracts on the blockchain (e.g. Ethereum) conduct financial activities. DeFi platforms allow people to lend or borrow funds from others, trade cryptocurrencies, and earn interest in savings-like accounts. As of October 2020, over $11 billion was deposited into various decentralized finance protocols. As of January 2021, approximately $20.5 billion has been invested in DeFi.

The above is a more official explanation, let’s talk about why he is so popular. First, let’s talk about the popular UNIswarp, which is defi in the eth ecosystem. In the beginning, people carried out so-called mining by staking transaction pairs. People who pledged liquidity took proofs to mortgage, and uni would reward the handling fees generated by the transactions and convert them into corresponding uni tokens and send them to those who mortgaged the transaction pairs. The greater the proportion, the greater the benefits will be. Due to the operation of centralized exchanges such as running away, unplugging network cables, etc., everyone became very interested in decentralized exchanges, and they could also mine for profits. It became popular all over the world for a while, and later cameras came out for SUSHI and CAKE ( Products on BSC) and some defi decentralized exchanges. When you trade on it, every transaction you make will be uploaded to the chain, so the handling fee will be very high, but the layer2 that comes out now will be much lower, such as the current dydx and other projects. So this defi seems to have endless potential now, and there are still many things that can be explored. By the way, there is also support for cross-chain transactions, which is very important. If it is done well in the future, I hope to be able to trade stocks, funds, and oil in real life. There is a star project CHIANLIINK. This is also a project that I am very optimistic about. It does price feeding and combines blockchain with real items. Related, I will talk about the chianlink project separately when I have time later. I am very optimistic about it, haha.

At that time, a large wave of airdrops were issued before uni was listed on the exchange. Before a certain point in time, everyone who traded on uni400uni per person. It is said that a brother was working on a project for the company and used thousands of accounts for testing. I don’t know if it is true or not. At that time, I remember that it was 4U when I joined the exchange, and now it is 40U. If that brother got it now, he would have retired. Yes, haha. So when you study blockchain, you must look at value rather than price, although price is also very important, haha. I am so superficial, because I also want to retire, but now I am still a coder.

Let me write these first to help you understand the blockchain. I am serious about it. Thank you everyone.

❸Iran proposes to establish a digital currency anchored by oil. Is it possible?

Iran proposes to establish a digital currency anchored by oil. Is it possible? This method proposed by Iran is likely to be unable to be applied in practice. There are several main reasons. You can refer to the following content:

3. Oil is related to a lot of oil The interests of importing countries are difficult to gain recognition at the economic level:

Oil is a complicated entanglement of interests, especially for oil importing countries, because it involves their economic interests, and the implementation of digital currency is very difficult. It may hit these countries, so it will be difficult to gain recognition.

❹ How to buy Singapore Refined Coin

Click to enter the "Petrocoin website"
2
Click the registration (Presale/Preventa) button.
After entering, please select Persona Juridica on the left for companies and Persona Natural on the right for natural persons
3
You need to fill in the registration name, certificate type, certificate number, country and electronic mailbox email address.

Method/Step 2
Click to verify the image authentication, which is somewhat similar to the domestic 12306 authentication for buying train tickets
After success, the registered email address will receive an email
You The purchase intention has been successfully registered
Download through the email link
Petrocoin purchase intention agreement document,
Start filling in the purchase intention agreement now

❺ Yu Fenghui: Bitcoin The momentum is fierce and there is an opportunity

Although Bitcoin is a virtual currency or digital currency, to be truly successful it must become a means of settlement and a medium of transaction. At present, Bitcoin is only a tool for investment and especially speculation. If a currency cannot be separated from its financial attributes of speculative investment, then it will be difficult to become a real currency.

Of course, the main reason why Bitcoin is subject to speculative investment is that it is covered with a layer of mystery, and the designer released the words that the total number of Bitcoins is limited, leaving room for speculation for speculators. At the same time, Bitcoin is based on blockchain technology. It is either a symbol and pioneer of decentralization of the new economy and new finance, or it is the future development direction of the global financial industry and brings disruption to traditional finance.Subversion has unimaginable power. This is another reason why it's the subject of hype.

The third reason is that China’s bad habits of speculation have eroded into Bitcoin. It is said that 90% of Bitcoin speculation platforms are in China. It’s no surprise that Bitcoin is wildly hyped. The bad habits of speculation all over China have begun to pollute the world, and Bitcoin is not immune. This is also the reason why no consumer company in China dares to use Bitcoin for settlement. However, the situation in developed countries such as Europe, the United States and Japan is completely different.

The first country that could use Bitcoin for transaction settlement was Canada. On October 31, 2013, the world's first publicly used Bitcoin ATM machine was put into use in Vancouver, Canada. Its operators were Bitcoiniacs of Vancouver and Robocoin of Nevada, USA. Through this machine in a Vancouver cafe The machine can exchange Bitcoin and Canadian dollars in both directions. After this ATM machine was put into use, it quickly attracted more than a dozen people to use it, and they were curious about how it worked. Users need to scan their palm information before using it, and the daily redemption limit is up to US$3,000.

Bitcoin appeared in 2009 and is not controlled by an institution similar to a central bank. In 2008, the concept of Bitcoin was proposed by a person named Satoshi Nakamoto.

On October 5, 2014, 247Exchange.com, a cryptocurrency exchange located in Belize, announced that it had obtained a cooperation agreement with "Bank Transfer System (Sofortbanking)". This agreement 22,000 branches of more than 400 banks across the European continent, connected to the SofortBanking payment system, will provide Bitcoin buyers with a quick purchase channel. If you have an account at one of these hundreds of banks, you can buy Bitcoin and other cryptocurrencies more quickly and easily. This agreement covers 10 European countries (Germany, Austria, Switzerland, the United Kingdom, the Netherlands, Belgium, France, Italy, Spain, Poland, and an addendum includes banks in Slovenia and Hungary).

European banks are lining up with major retailers that accept Bitcoin directly. For example, according to an agreement between the Indonesian Bitcoin trading platform Bitcoin.co.id and the payment processor iPaymu, in Indonesia, which has a backward payment network, its 238 million residents can now use Bitcoin through more than 10,000 "Indomaret" convenience stores. currency. These protocols make it easier for more people around the world to access and use Bitcoin.

What is even more significant is that the clear positioning of Bitcoin has always been something the industry has been eagerly waiting for. After the U.S. regulatory agency CFTC officially defined Bitcoin and other virtual currencies as commodities in September 2015, on October 23, EuropeA court officially ruled that Bitcoin exchanges that charge a fee to convert traditional currencies such as euros or Swedish krona into Bitcoin are exempt from paying value-added tax. The ruling is seen as confirmation of Bitcoin’s currency status in Europe. According to EU regulations, "currency, bank notes and coins used as legal tender" are not subject to VAT.

After entering 2017, Bitcoin ushered in substantial progress in settlement transaction methods. In the United States, blockchain technology has begun to be used in oil trading. In late March 2017, trading company Trafigura and French bank Natixis, which are looking for cheaper ways to streamline trade processes, jointly tested the application of blockchain in U.S. oil market trade, indicating that digital technology may Changing crude oil trading. Trafigura and Natixis have been simulating blockchain operations using crude oil trading channels in Texas since November 2016. The technology can eliminate the tedious paperwork involved in oil trading such as sending contracts, letters of credit, inspections, etc. via email or fax.

Before the news of Bitcoin being used for oil transactions has faded, more and more Japanese physical stores are using it as a means of settlement, which will promote the popularity of this digital currency in Japan. As of the end of March 2017, there were approximately 4,500 stores in Japan that supported Bitcoin settlement. According to a report by Nihon Keizai Shimbun on April 5, 2017, biccamera, a large electrical appliance retail chain, and bitFlyer, Japan’s largest Bitcoin exchange, have cooperated to launch sales at biccamera’s Yurakucho flagship store in Tokyo and bicqlobiccamera from April 7, 2017. (A commercial facility jointly operated by biccamera and UNIQLO, referred to as bicqlo) Shinjuku East Exit store is trialling a Bitcoin settlement system. The settlement limit is tentatively set at an amount equivalent to 100,000 yen (1 U.S. dollar is equivalent to 110.6 yen), and you will enjoy the same proportion of shopping discounts as cash payment. Recruit-lifestyle, a company under the Recruit Group, aims to have 260,000 of its stores use Bitcoin for settlement by the summer of 2017.

The specific operation is that when consumers settle, they enter the amount of Japanese yen into the store's cashier software. The consumption amount will be converted into Bitcoins and a QR code will be displayed. After the consumer scans the code with his mobile phone, The consumption amount will be deducted from his Bitcoin account, and the Bitcoin exchange that cooperates with the store will convert the Bitcoin into Japanese yen and remit it to the store's account.

Starting from July 2017, consumption tax will no longer be paid when purchasing virtual currencies in Japan, which is also regarded as a booster for the expansion of the Bitcoin market. We note that on October 23, 2015, the European Court of Justice officially ruled that Bitcoin exchanges that charge a fee to convert traditional currencies such as euros or Swedish krona into Bitcoin are exempt from paying VAT. This ruling is regarded as Bitcoin The monetary status of the European region was confirmed. Contrary to Japan’s consumption tax exemptionAnd together, it proves that the true currency status of Bitcoin transaction settlement method is confirmed by more and more countries.

Japan has implemented the newly revised "Fund Settlement Law" on April 1, 2017, introducing a registration system to manage exchanges engaged in virtual currency transactions such as Bitcoin, and related systems for the security of virtual currencies. Construction continues to advance. At the same time, it also truly established the true currency attributes of Bitcoin.

Of course, there are many obstacles that must be overcome before Bitcoin can truly become a global settlement method. The biggest obstacle is that the price of Bitcoin fluctuates violently. Many people hold Bitcoin for speculation, so it is difficult to promote it as a settlement method. . We must carry out targeted curbs, especially curbing the crazy speculation on Bitcoin in the Chinese mainland market. We cannot let the bad habits of crazy speculation and speculation in the Chinese mainland market spoil the good momentum of the development of digital currencies such as Bitcoin.

❻ How extensive is the scope of blockchain?

The breadth of blockchain is just like the Internet. The future trend is increasingly towards blockchain. To be honest, there are many now. Binance chain, Binance Smart chain, etc. are all practical applications of blockchain.

❼ Is the coc oil blockchain legal?

No. The coc oil blockchain is crude oil investment and financial management. It is not a scam in nature. The COC certificate is a requirement of many countries. For goods exported to Saudi Arabia, Iran and other Middle East regions, the customs of the importing country requires the importer to provide a recognized international certification company for the goods. Certificate of conformity issued. Investment involves risks, please make decisions with caution.

❽ How to get oil coins by operating China's oil in 23 years

All things related to cryptocurrency internationally are in the stage of discussion and research. This is a kind of fanatical embrace compared to the previous The “turn” of new trends. Normal governments will be cautious, except for countries such as Venezuela and Zimbabwe where the currency system has collapsed

(The petro is very different from other popular cryptocurrencies such as Bitcoin, Dash and Litecoin. , the petro currency is linked to the price of crude oil, but the prices of Bitcoin and others fluctuate based on demand. Picture/Visual China)

"Caijing" reporter Huang Chengjing/Wen Yuanxue/Editor

At the beginning of this year, the first legal digital currency in human history was born. The petroleum-backed digital currency PTR (petro cryptocurrency, referred to as "petro currency") issued by the Venezuelan government is on pre-sale. Although digital cryptocurrencies are quite controversial, the issuance of the petro coin was like a thunderclap, stimulating people's nerves. Some people claim that this is a new era of digital currency, while others think it is just a trap for bankrupt governments.

While the whole world is still waiting to see how much profits and losses will be made from cryptocurrencies, Venezuela is desperate to “innovate” because there is nothing it can do about its economy. Affected by falling oil prices and the debt crisis, Venezuela is in the midst of a crisis in its country.The worst economic disaster in modern history, with inflation exceeding 4,000% last year, banknotes turning into waste paper, and shortages of food and medical care leading to political instability. Venezuela's move is an attempt to seek international financing amid rising foreign debt pressure and tightening Western financial blockades.

Since 2017, blockchain technology and encryption craze have swept the world. In addition to topics such as currency value, speculative bubbles, regulatory model circulation and transactions, there is now a new dimension, the state-issued Fiat cryptocurrency. More and more countries are planning to issue virtual currencies. If this trend continues, how will it change the current international monetary system? On the other hand, how is the Petro Coin, which is backed by physical objects, different from ordinary cryptocurrencies? Can it win market recognition?

The truth about the petro currency

The petro currency white paper released by the Venezuelan government states that “because the U.S. dollar serves as an international currency and replaces the gold standard with a credit model, the world economy is subject to a system that is not supported by gold. The uncertainty brought about by the base currency is particularly harmful to emerging economies.”

The white paper shows that the total circulation of petro coins will be 100 million, of which 38.4 million will be issued from February 20 A one-month private sale began on March 20, and another 44 million coins will be publicly held on the Ethereum platform in five batches starting from March 20. The Venezuelan government’s cryptocurrency regulatory agency will hold the remaining 17.6 million coins.

Venezuela uses the 5 billion barrels of oil reserves in the No. 1 oil field in the Ayacucho block of the Orinoco heavy oil belt as the material basis for issuing petro coins. Each petro coin is equivalent to 1 barrel of oil. The guide price is US$60. Taking into account factors such as diminishing discounts, the potential total value of the Petro coin will reach US$4.944 billion.

Maduro designated Venezuela’s tourism industry, gasoline sales and crude oil transactions to accept petro payments. “The use of petro coins in a certain proportion of products and supplies for commercial transactions.” The white paper also writes that Venezuelan citizens can use petro coins for tax payment, fee payment and public services. From this, it can be known that so far, The application scenario of Petro Coin is in China.

Although it is called Petro Coin, the white paper clearly states that Petro Coin cannot be exchanged for oil, but is only linked to oil prices. This relationship is specifically reflected in the formula: Petro Coin Conversion Price = Oil Price × Petro Coin Exchange Price × (1-Discount Rate). The “Petro exchange price” is the weighted average price of Petro on several exchanges designated by the Venezuelan government.

In this way, not only issuance volume will be controlled by the government, but many people worry that the discount rate will also be controlled by the government. Jack Karsten, a researcher at the Brookings Institution, and Darrell M. West, director of the Political Governance Research Project, believe that Petro is different from other popular cryptocurrencies, such as Bitcoin and Dash.shcoin) is very different from Litecoin, etc. Petrocoin is linked to the price of crude oil, while the price of Bitcoin, etc. fluctuates based on demand.

In addition, the petro currency is not decentralized, but is subject to the Venezuelan government’s adjustments to the discount rate and fluctuations in oil prices. “There is a very real danger that oil will not only fail to heal Venezuela’s economy, but will weaken the integrity of cryptocurrencies,” the researcher said.

On the first day of the pre-sale, Maduro claimed that the petro coin received subscription orders of US$735 million, but he did not disclose any details of the initial investors or provide evidence to confirm this figure. West analyzed to the "Finance" reporter that this number is given by the government and there is no independent verification, so it is difficult to judge whether it is true. Many outside experts are skeptical of the government's claims, believing subscriptions were well below $735 million.

Bitcoin and Ethereum are blockchain cryptocurrencies developed by miners through accounting and other processes, while Petro is still a legal currency monopolized by the government and the central bank, and can only rely on the government's commitment , then for the operation of international capital, where is the living space of the petro currency, and what is its use for foreign speculators.

Bloomberg columnist Matt Levine also raised the same question. He believes that Venezuelans can use petro coins to repay debts and pay taxes, but they cannot use their national currency, bolivars, to buy oil. coins, while foreigners who could buy them received nothing—no interest and no redemption for cash.

Levine also raised questions about the source code and operating platform of the Petro coin. The white paper said that the Petro coin is built on the Ethereum network, while the user guide issued by the government stated that it is on the Nem network. superior.

“Developers of fiat cryptocurrencies should prioritize decentralized, secure and transparent transactions. On the contrary, pre-sales of this cryptocurrency do not provide real services to its international holders.” West commented.

Steve Hanke, a professor of applied economics at Johns Hopkins University, said that the birth of the petro currency is sad because it gives other cryptocurrencies that are also backed by commodities a bad name. A stable cryptocurrency needs transparency and credibility to back it up.

Currently there are only two examples of cryptocurrencies in the world that are based on physical resources. The other one was not issued by the central bank. In February this year, the Israel Diamond Exchange, one of the world's three largest diamond exchanges, announced the issuance of cryptocurrency "carat" and "cut". The carat is for the investment and trading circle for investors and the public to purchase; cutting It is for use among diamond dealers. The price of the cryptocurrency is determined by an algorithm, and to ensure the stability of the currency's value, 25% of the market capitalization of both currencies will be backed by diamonds held by third parties.

For the Venezuelan government, the main purpose of issuing petro coins is to enhance economic sovereignty and improve internal governance.to deal with inflation and break the financial sanctions imposed by the United States. Xie Wenze, a researcher at the Institute of Latin America at the Chinese Academy of Social Sciences, told Caijing reporters that in addition to the above purposes, Maduro also hopes to form a petro currency alliance, mainly to promote the petro currency with OPEC countries.

However, outside the trading venue, the Venezuelan Congress and the US government have successively taken action to try to prevent the issuance and circulation of petro coins. The Venezuelan opposition-led Congress declared the petro currency illegal, arguing that the petro currency is actually a kind of borrowing, and government borrowing must be approved by Congress; the U.S. Treasury Department warned that investing in petro coins may violate economic and financial sanctions against Venezuela.

The petro currency has not yet been officially put into use, and the Venezuelan presidential election originally scheduled for April has also been postponed to May 20. Xie Wenze believes that the future political situation is not clear and it is difficult to judge the prospects of the petro currency. . The world's first cryptocurrency issued by a sovereign country may be strangled in the bud by political risks before it faces the baptism of market turmoil.

What will be the general environment for the emergence of digital currency?

Before the advent of Petro Coin and Diamond Coin, there were already three country-backed digital currencies in the world that quietly came out. Ecuador launched a government-operated electronic money payment system in 2015. Electronic money is stored in mobile phones and can be used to pay taxes and pay for some services that support electronic payment. This is the world's first state-run electronic money system. In the same year, Tunisia and Senegal also launched digital currencies based on blockchain technology.

Generally speaking, some countries with less developed financial systems and weak economic development prefer digital currencies such as Bitcoin. These countries hope to enter a new financial ecosystem through digital currencies. Hong Shuning, a senior researcher at Suning Financial Research Institute, analyzed to Caijing reporters that countries that are now preparing to issue legal digital currencies are roughly divided into two categories. One category is like Venezuela, which has problems with its own economy and currency and wants to change the government's image by issuing digital currencies. ; The other is to pursue the technology of currency issuance, reduce issuance costs, and achieve convenient use.

Beginning in 2017, the second type of countries began to emerge, including Russia, Japan, Singapore, Israel, Sweden, Dubai, Estonia, etc.

West said: “Issuing cryptocurrencies seems to be attractive to any government, and some countries are leaning towards the crypto market with trepidation because they see huge potential. ”

As a country at the forefront of cryptocurrency, Japanese law accepts Bitcoin as a legal payment instrument; the Japanese banking industry is planning to launch the digital cryptocurrency “J Coin” for the 2020 Tokyo Olympics.

Estonia is one of the first countries in the world to store government data on the blockchain, and is also preparing to launch the official digital cryptocurrency "Estcoins". Cash usage in recent yearsSweden, which has seen a significant drop in interest rates, is considering issuing the cryptocurrency "eKrona".

In addition, digital currency also has the consideration of challenging the international monetary system dominated by the US dollar. Maduro claimed that the petro coin attracted US$735 million on the first day of pre-sale, and some concerns surfaced - this may mean that the United States' strong blockade and economic sanctions on Venezuela have still not closed Venezuela's online US dollar delivery channel.

The Brookings Institution suggested that behind Venezuela’s claimed success, countries such as Russia, Turkey and Iran are also seeking to develop their own cryptocurrencies to circumvent sanctions.

In December last year, the Russian Central Bank drafted a transnational cryptocurrency proposal, aiming to unite the BRICS and the Eurasian Economic Union to create a new transnational cryptocurrency so that it can be used in member countries. legal circulation. Russia plans to use the cryptocurrency to replace previous fiat currencies for official trade settlements.

Russian President Putin also stated that Russia will issue its own encrypted digital currency "CryptoRuble".

At the same time that the Maduro regime announced the issuance of petro coins, the global cryptocurrency market, led by Bitcoin, was experiencing a wave of ebb, and the risks of capital speculation began to emerge.

Zhao Yao, deputy secretary-general of the Financial Innovation and Internet Financial Rule of Law Research Center of China University of Political Science and Law, told Caijing reporters that all things related to cryptocurrency internationally are in the stage of discussion and research. Compared with the previous "turn" that enthusiastically embraced new trends. Normal governments will be cautious, except for countries such as Venezuela and Zimbabwe whose currency systems have collapsed.

A global survey by Reuters in 2017 showed that countries have different opinions on the definition, classification and supervision of cryptocurrencies such as Bitcoin, Ethereum and Ripple, ranging from complete acceptance to outright ban.