It is reported that the central bank’s research and issuance of digital currency is not a temporary move. From 2014 to the present, the research on central bank digital currency has been carried out for five years. The Central Bank Digital Currency Research Institute was formally established in 2017 and has applied for more than 70 patents involving digital currency technology.
Patent information of the Central Bank Digital Currency Research Institute (data source: Huiju Cloud)
In recent years, with the development of Internet technology, especially blockchain technology, many so-called "Virtual currencies", such as Bitcoin and Litecoin, which have been controversial in recent years. So, how is the digital currency proposed by the central bank different from these commercial “virtual currencies”? Next, Xiaoju will analyze it from the perspective of patents.
Some patents from the Central Bank’s Digital Currency Research Institute (data source: Huijue Cloud)
What is digital currency? ——[Invention Patent] Digital Currency System
Cloud computing is the mainstream direction of the backend server in the future, and the digital currency backend system adopts cloud-based solutions.
In e-commerce activities, due to different roles, the requirements for digital currencies are also different: customers require digital currencies to be easy to use, secure and anonymous; merchants require digital currencies to be certifiable and able to Exchange it into real currency; banks require that digital currency cannot be illegally used or counterfeited. Therefore, the digital currency D-RMB should have the following characteristics:
1. Security: It can prevent any party in the business from changing it. Or use digital currency illegally;
2. Non-re-spending: Digital currency can only be used once, and repeated spending can be easily checked;
3. Controllable anonymity: Banks and merchants collude with each other and cannot track the use of digital currency. The system is required to be unable to link the purchase behavior of electronic cash users, thereby concealing the purchase history of digital currency users. However, the issuer of digital currency can track the use of digital currency;
4. Unforgeability: users cannot forge fake digital currencies;
5. Fairness: the payment process is fair, ensuring that either the transaction is successful or that neither party loses , to prevent a certain trading party from suffering losses in the transaction;
6. Compatibility: The issuance process and circulation links of digital currency in the D-RMB system refer to the issuance and circulation of physical currency as much as possible.
And for digital currency, it should be able to adapt to various usage scenarios of existing currencies and be freely convertible with existing currencies.
This patent provides a digital currency system, including a central bank digital currency system, a commercial bank digital currency system, and a certification system.
Among them, the central bank digital currency system is used to generate and issue digital currency, and register the ownership of digital currency; the commercial bank digital currency system is used to perform banking functions for digital currency; the certification system is used to Provides authentication for the interaction between the central bank digital currency system and the terminal device used by the user of the digital currency, and provides authentication for the interaction between the central bank digital currency system and the commercial bank digital currency system.
Schematic diagram of the basic structure of the digital currency system
To achieve a digital currency system with good convenience and high security, and can be applied to various application scenarios of digital currency in reality.
How to exchange digital currency for cash? ——[Invention Patent] Method and system for converting digital currency into physical cash
The user terminal device selects the equivalent digital currency in the digital currency wallet based on the redemption amount input by the external operation, and the user terminal device will The digital currency is sent to the commercial bank digital currency system, the commercial bank digital currency system sends the digital currency to the central bank digital currency system, and the central bank digital currency system generates a one-time withdrawal code and then sends it to the user terminal device for presentation to user, and change the owner information of the digital currency from the user to the central bank.
The commercial bank digital currency system sends the one-time withdrawal code provided by the user to the central bank digital currency system. The central bank digital currency system confirms that the one-time withdrawal code is valid, and then increases the redemption amount in the commercial bank account. , and sends a notification that the one-time withdrawal code is valid to the commercial bank's digital currency system. After receiving the notification, the commercial bank's digital currency system issues a payment instruction, where the payment instruction is used to control the machine or prompt the user to manually pay the amount equal to the redemption amount. cash.
A schematic diagram of a method of converting digital currency into physical cash
How to spend digital currency online? ——[Invention Patent] Method and system for online payment using digital currency chip card
This patent is a method and system for online payment using digital currency chip card. Provides a method for online payment using a digital currency chip card. The method includes: the user terminal device sends payment information to an acceptance terminal device, and the payment information includes digital currency chip card information and digital currency equivalent to the payment amount; the acceptance terminal After receiving the payment information, the device sends the payment information to the commercial bank digital currency system; after receiving the payment information, the commercial bank digital currency system sends a request to change the owner to the central bank digital currency system; the central bank digital currency system After receiving the request to change the owner, the owner of the digital currency is changed to the merchant's commercial bank code; the commercial bank's digital currency system changes the merchant's account amount.
Flow chart of digital currency chip card method for online payment. In recent years, commercial virtual currency has been controversial. People are increasingly realizing that the future development trend of digital currency will still be based on national credit and controlled by central banks of various countries. Legal digital currency issued. At present, China is still in the stage of accelerating research and development of digital currency. For example, the central bank held a video conference on work for the second half of 2019 on August 2, calling for “accelerating the pace of research and development of my country’s legal digital currency.” The recently released "Opinions of the Central Committee of the Communist Party of China and the State Council on Supporting Shenzhen in Building a Pioneer Demonstration Zone of Socialism with Chinese Characteristics" clearly states that it "supports the development of innovative applications such as digital currency research and mobile payments in Shenzhen." Let us wait and see when digital currency will meet everyone.