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Digital currency can replace the current cash banknotes, digitizing and simplifying people's transactions. The past year can be said to be the year of digital currency, and the word Bitcoin has crazily appeared on the hot search list.
The basic technology of Bitcoin is based on the blockchain. The biggest feature of blockchain technology is decentralization, which can be used to record the ownership information of any asset and the transaction information of ownership.
This means that all centralized things will be completely eliminated. Various economic and financial regulatory agencies such as currency, banks, and securities will all be subverted.
Decentralized credit mechanism
On the other hand, blockchain technology reconstructs the credit system in the economy, not only the traditional credit institutions and acquisition methods have been subverted, but the latest methods such as big data and cloud computing will also face challenges.