Circulation method of binary system digital currency

Abstract

The invention provides a circulation method of binary system digital currency. The circulation method of binary system digital currency includes the steps: a transmission end transmits a first transaction message which signs up for a digital currency front message to a credible platform; after the first acceptance result is received, the digital currency front message during the sign change process is transmitted to a receiving end; the receiving end sends a second transaction message which signs for the digital currency front message to the credible platform; and the credible platform receives and verifies the second transaction message which is transmitted from the receiving end after signing for the digital currency front message, updates the information of the current holder, and authenticates and countersigns the digital currency back message. The circulation method of binary system digital currency can realize digitalization of paper currency and utilizes the technology to issue new currency, and has the advantages of reducing various costs for currency issue, effectively reducing misalignment of circulation, caused by precipitation sleep of traditional currency, effectively improving the disadvantages that tracking, tracing and statistical analysis during the circulation link for the traditional currency cannot be implemented, and effectively improving safety for keeping and transportation for the holder.

Description

technical field [0001] The invention relates to the technical field of the Internet, in particular to a circulation method of a binary system digital currency. Background technique [0002] Paper money: commonly known as "money", is no stranger to everyone today. There are many inconveniences and disadvantages in banknotes, for example: 1. The cost of anti-counterfeiting: the anti-counterfeiting of banknotes requires a lot of cost in printing, banknote inspection and other links. Second, the cost of transportation: armored vehicles, escorts, etc. 3. The cost of reissuance: perishable, damaged, damaged. Banknotes are perishable and damaged in circulation, and damaged or burned in storage. New coins need to be reissued regularly to recover old coins. 4. The price of precipitation: Chinese people love to save cash, especially in the vast rural areas. A large amount of money is stored in the home, causing part of the currency to be unable to participate in market circulation...

AI Technical Summary

Problems solved by technology

There are many inconveniences and disadvantages in banknotes, for example: 1. The cost of anti-counterfeiting: the anti-counterfeiting of banknotes requires a lot of cost in printing, checking and other links

Second, the cost of transportation: cash transport vehicles, escorts, etc.

3. Cost of reissue: perishable, damaged, damaged

4. The price of precipitation: Chinese people love to save cash, especially in the vast rural areas. A large amount of money is stored in the home, causing part of the currency to be unable to participate in market circulation. The government can only avoid it by increasing issuance, reissuing banknotes, and increasing credit and budget lines. Deflation This, from a certain point of view, paper money sleep also disturbs the stability of currency issuance

5. Disadvantages of anonymity: Because banknotes do not have the tracking function of circulation traces, a large number of bribery, money laundering and other phenomena exist

Sixth, the loss of theft: easy to be stolen or robbed, it is not safe to carry a large amount of banknotes and cash

It is precisely because of this decentralized "utopian" feature that Bitcoin cannot be called the legal tender of a country.

It also makes it difficult for blockchain technology to integrate into the banking mechanism of the existing dual system (central bank + commercial bank), and it is even more impossible to accept the "utopian" digital currency issuance mechanism realized by blockchain technology

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