In the era of primitive society, social and economic systems were underdeveloped, and financial systems and tools had not yet been invented. Since humans are social animals, they naturally perform their own duties. Some are responsible for hunting, while others are responsible for gathering wild fruits or making tools. Because of this, the materials in everyone’s hands are uneven, and bartering naturally occurs. People will exchange what they need with others.
The following is a detailed introduction to the birth of blockchain technology:
It was not until the Shang Dynasty and the Western Zhou Dynasty (about 16th century BC to 771 BC) that metal coins began to appear, and new developments occurred in the form of barter. At that time, people mainly usedphysical currencyAndMetal weighing currencyTwo kinds way. The physical currency at that time included shells, tortoise shells, grain, cloth, etc. The metal weighing currency was mainly copper.
No matter what items they are, they can be regarded as general equivalents, the predecessors of currency, or as currency generated through blockchain technology. The initial form of the certificate. The following content will be specifically analyzed. The so-called general equivalents are items that are separated from the exchanged commodities and directly exchanged with all other commodities. Their main function is to reflect the value of different commodities. This function is similar to the pass.
The transition from high-cost metal weighing currency to low-cost paper currency is a reflection of the development of commercial trade and the country’s credit endorsement. Taking RMB as an example, the cost of a hundred-yuan note is less than 1 yuan. The value and significance of a sovereign country’s currency is to make people believe and acquiesce that low-cost banknotes can generate the purchasing power represented by the paper.
With the development and application of technology and the Internet, the business and economic operating model has evolved from paper currency media to the mainstream model of electronic accounting and financial circulation. . For example, today’s workers no longer have to wait in line for their boss to hand out stacks of cash. Instead, they only need to wait for the boss to make an action in online banking and receive the digital currency representing the right to use cash into their electronic wallet, which is a bank account number. in. The daily consumption of food, clothing, housing and transportation is just a subtraction in this electronic wallet. Very easy and convenient. However, for this elementary form of digital currency, the accounting rights are only firmly in the hands of banks.
During the global economic crisis in 2008, because the U.S. government had global financial accounting rights, it could issue unlimited amounts of U.S. dollar currency to help it get through the crisis shamelessly. The figure Satoshi Nakamoto suddenly appeared on the Internet and publicly declared that the US dollar was very unreliable, so he created a new payment system-Bitcoin and the Bitcoin network. In this open and transparent system, everyone can participate in accounting and enjoy the rewards brought by accounting; the most important thing is that the number of digital currency Bitcoins circulating in this payment system is always a constant 21 million, and there will be no Additional issuance is claimed to avoid many problems caused by inflation.
As Bitcoin became popular around the world, the underlying blockchain technology was later discovered and widely studied by people in the technology and Internet technology circles. The technical characteristics of blockchain technology such as decentralization, traceability, and non-tampering have completely refreshed the understanding of science and technology circles. The operations of modern society are becoming more and more complex and refined, and the existing financial system, monetary system and Internet system are increasingly difficult to meet people’s growing and complex needs. With the research and development of blockchain technology and smart contracts, the main application method, today’s applications are no longer limited to the value exercise and circulation functions similar to currency, but can be applied to finance, intellectual property protection, Various scenarios such as improving the operational efficiency of various industries.
