What will digital currency bring (future development trend of digital currency)
What will digital currency bring? In April 2019, CITIC Bank officially announced
What will digital currency bring? In April 2019, CITIC Bank officially announced the issuance of digital currency “Tether”. This digital currency is based on blockchain electronic cash system. Other virtual encrypted digital currencies such as Bitcoin and Ethereum use a centralized model for circulation. They are all decentralized and cannot be controlled by any third party. They rely entirely on central institutions to control and maintain their development direction. They also have the characteristics of anonymity and are used for illegal fundraising, money laundering, and other illegal activities.
From a technical perspective, what will digital currency bring? In fact, there are several reasons. 1. The relationship between Bitcoin and legal tender currently, in addition to Bitcoin, other virtual assets also have their own set of trading rules. However, many people are still using legal tender because the government does not understand or consider the issuance of physical banknotes by the central bank as a legitimate savings method, so it cannot be used as currency.
2. The emergence of Libra has led many countries to start studying this project. For example, the UK has launched Facebook’s stablecoin Libra, and the United States is also trying to develop this stablecoin, but it has not been successful.
3. If all currencies used Bitcoin or Ethereum before, the global financial system is now very mature. We all know that regulatory authorities around the world have been closely monitoring the development trend of digital currency, and their research and development of digital currency have become more and more active. Therefore, people will gradually recognize the various benefits and risks brought by digital currency.
Future development trend of digital currency
Digital currency, as an emerging asset class, is becoming an important component of the global financial infrastructure. With the continuous tightening of regulatory policies in various countries and the gradual convergence of central banks’ attitudes towards cryptocurrency, the development trend of digital currency is expected to enter a period of accelerated development.
First, blockchain technology will play an important role in promoting electronic payments and information sharing. Second, the integration of blockchain with technologies such as AI and big data will further promote the development of the digital economy. Third, virtual reality (VR) devices may bring more innovative application scenarios and changes in user habits. (Science and Technology Daily)
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