Editor's Note: The original title is "Sovereign currency will be freed from military endorsement – DCEP is great enough to win the Nobel Peace Prize"
Long-term living in the environment of electronic payment, we have forgotten the sadness of receiving counterfeit money. This kind of environment is hard to come by, and more real worlds are counterfeit.
In September 1939, Germany invaded Poland and the Second World War broke out. War is not just a tank machine gun, there is no battlefield for smoke. Nazi German finance officials launched the "Bernhard" action against the British counterfeit banknotes. The Germans made a lot of pounds, which perfectly deceived the British banks, including the Swiss bank, and was identified as a real pound. Germany has issued a total of about 600 million pounds. Don't think it's less, that's 600 million nearly 100 years ago. This number is more than the pound issued by the British government. The Bank of England, as of January 9, 1951, published a total of 18,602,23 counterfeit notes of varying denominations.
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The monetary status of the pound at the time was the current dollar.
Printing the sovereign currency of other countries, and doing this kind of ruin, can be far more than Germany.
In 1940, Japan launched a counterfeit currency attack against China, forging a huge amount of legal currency issued by the Republic of China government, the total amount exceeding 10% of the current circulation. This is also one of the main reasons for the inflation of the French currency.
The Soviet Union has also done this. After the Second World War, the United States, Britain, France and the Soviet Union occupied Germany, and divided them into West Germany and East Germany. Both sides used the same currency. The Soviet Union issued a huge amount of money and went to West Germany to buy things.
Counterfeit counterfeit currency at the national level has been happening all the time. Now you can also search for a large number of news released by the Public Security Bureau's official website and People's Daily in 2011 and 2012: Be wary of the recent "Korean version" of counterfeit money flowing into the market.
North Korea also printed the US dollar. On Wikipedia, there is a term "super dollar bill" that records North Korea’s forgery of US dollar bills and the United States’ fight against North Korea.
Any government-issued sovereign currency will regularly launch new versions. The main reason is anti-counterfeiting. It is not the counterfeiting power of the nationals of the country, but the forgery of the government of other countries.
Why is the dollar now a global hard currency? Why do people and governments in other countries dare to accept dollars, not afraid to receive a "perfect fake dollar"?
Our primary recognition is that the anti-counterfeiting technology of US dollar bills must not be unavoidable. The US government can print, and other governments have the means to print the perfect dollar.
There are two reasons why the dollar is strong. The first is that the US economy ranks first in the world, and the whole world must do business with the United States. The second is that the United States has the world's first military strength and is an absolute leader. The law enforcement capabilities of the United States can be extended to almost the entire world.
The military strength of the United States is the core reason for guaranteeing that other countries do not dare to falsify the US dollar. If you dare to make a fake, I will hit you. The predecessor of the famous US Department of Homeland Security was the US Secret Service, which was established in 1865 and was established to fight against fake dollars.
The US Secret Service, established in 1865, was secretly investigating US dollar banknotes and treasury bond counterfeiting and other financial crimes, at the time under the US Treasury.
And why is the yen, the euro, the renminbi, not the world's hard currency? China is already the world's second-largest GDP economy. Similarly, almost the world has to do business with China. But other countries receive the US dollar and do not accept your RMB. If Iraq wants to sell oil to China, it can think of a plan to use oil for high-speed rail. It is also impossible to use oil for RMB and then RMB for high-speed rail. The essential reason is that the anti-counterfeiting protection capability of the renminbi needs to be improved.
Customs in any sovereign country controls the entry and exit of the physical currency. Similarly, in the United States, countries without foreign exchange controls have control over the physical currency. One of the reasons for regulation is also for anti-counterfeiting.
Now Vietnam, Thailand, Japan, and other neighboring countries, in many shopping malls, we can use Alipay and WeChat to pay for things to buy and sell. Because there are guarantees for Alipay and WeChat payment, the mall will not receive counterfeit money.
UnionPay, an electronic payment method, can also be used for anti-counterfeiting. Visa cards and Master cards can be used in retail sales in most countries, and both parties need not worry about counterfeit currency. The anti-counterfeiting mechanism behind this is a strong central organization such as UnionPay and Visa. UnionPay also signs contracts with merchant users to ensure that there is no problem with the payment process.
Alipay, WeChat payment, UnionPay, common at home and abroad, do not have to worry about counterfeit banknotes, must be real-name system. It is very difficult for foreigners to get bank cards from Chinese banks. Think about it, can you open a foreign bank card? Try a Japanese bank card and try a dollar card.
Living in China for a long time, we may forget it. In fact, the Chinese government's population management ability is the highest in the world. There are still a large number of nationals in the world, and there is no identity card at all. Including our neighbors, India, which also has a population of 1.3 billion, there are more Indians without ID cards. Without an ID card, UnionPay and Alipay will not be able to provide you with services.
The mechanisms such as Alipay and UnionPay do have extremely high anti-counterfeiting capabilities. However, because of the need for real-name management, it has restricted popularization.
The blockchain has appeared.
Blockchain technology provides perfect anti-counterfeiting capabilities. We have never received fake bitcoin, you have the ability to send a fake bitcoin to try it for me.
The anti-counterfeiting technology adopted by Alipay is a centralized server to undertake accounting, and the balance confirmation and balance change of any account are confirmed by the server. Users only need to trust the server to ensure anti-counterfeiting. Of course, the server itself can do evil. If the hacker can attack the server, it can also print fake money.
Blockchain technology uses a book to be published, and everyone can download and verify the complete ledger. Anyone who wants to make a fake needs to attack and modify more than half of the books at the same time. This is really too difficult. Anyway, no matter which digital currency, even if there is no technical team maintenance, there is a perfect anti-counterfeiting mechanism, which is guaranteed by blockchain technology.
Using blockchain technology to issue currency, we don't need an army to defend against it.
Blockchain technology provides the perfect anonymity solution. Don't think of anonymity as a bad thing. Anonymity is a synonym for non-real names. A payment system that can operate stably under an anonymous mechanism, the biggest advantage is not to do bad things, but to greatly reduce operating costs, and can be promoted and popularized at a very low cost. Since opening an account does not require a real name, you can provide financial services to those who do not have an ID card.
The opening of the blockchain account uses a mathematical mechanism that uses cryptography to ensure that the account is globally unique and secure. Any user can download a wallet, use the wallet to generate a set of private keys, and then the private key generates a set of addresses through a one-way function. The address is similar to an account, and the private key is similar to a password. This process of generating an account does not require an ID card at all, does not even require networking, or even requires a mobile phone, and can be completed with a coin and a pen and paper.
Using blockchain technology to issue currency, we no longer need an ID passport to open an account.
DCEP, the central bank of China's digital currency, is a sovereign currency issued by the Chinese government using blockchain technology. DCEP is a sovereign credit currency, just like the renminbi. At the same time, it is an encrypted digital currency, which adopts blockchain technology, has the anti-counterfeiting property of blockchain technology, and can be used for non-real-name account opening.
DCEP uses technical means to prevent forgery and does not require military power to prevent forgery. World peace has entered a new pattern.
The internationalization of the RMB will be greatly accelerated by DCEP's non-real-name account opening technology. Because foreigners no longer need ID cards, passports, driver's licenses, etc., they can have DCEP accounts, and Africans can also own them. Banks no longer need the help of banks, and banks do not need to go to the world.
In the past world moral system, it was unethical for a regime to falsify the sovereign currency of another country. However, the issuance of encrypted digital sovereign currency such as DCEP, as well as the release of Libra, this kind of morality may be changed. DCEP and Libra are facing "hacker" attacks. Once they are technically broken by hackers, such encrypted digital sovereign currencies will be finished. So I believe that the people's government will be very cautious.
It can be expected that after the successful issuance of DCEP and successful promotion and popularization, the demonstration effect will promote the issuance of encrypted digital sovereign currency by other sovereign countries in the world.
The encrypted digital sovereign credit currency issued in combination with blockchain technology can finally get rid of the endorsement of military power. The strength and popularity of credit currency will be determined by the economic strength of a country, not military strength. The world will therefore be more peaceful.
Thanks to Bitcoin, Libra, DCEP for making the world more peaceful.
Author: Huang Shiliang
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Editor's Note: This article does not change the original intention of the author.