The birth of block chain technology has gone through 10 years of evolution and development. with the progress of science and technology, block chain began to land and bear fruitful results today. The Baidu Baike which is We so familiar with has successfully applied block chain technology operation for more than three years, and the block chain invoice, fund management system, RMB digital currency DCEP and other block chain applications are also in research and development, experiment and application, It is believed that block chain technology can enter everyone's life, and to serve the whole mankind truly in the near future.
Recently, another explosive news of block chains area came out . The Asian regional common currency ACU, which is based on the linked exchange rate, has issued a global white paper and entered the stage of institutional bidding.
It is reported that ACU has doubled its value in a few days after its purchase, from the initial 0.05usd to 0.12usd, and has completed its first batch of volume. Its value may achieve an eye-catching huge growth during the purchase period with the successive purchases of follow-up institutions.
The short version of the white paper has now been made public proposed three important backgrounds for monetary integration of Asia.
First, after the disintegration of the Bretton Woods system, the US dollar was forcibly decoupled from gold and became a pure credit currency, which caused losing the support of real precious metal assets, the dollar became a runaway horse, going farther and farther on the road of continuous evil.
Secondly, around the 21st century, Asia has experienced two major financial crises, although both of which suffered heavy losses, the importance of Asian economy has gradually emerged, and Asia is no longer a weak subordinate to other economic powers.
Thirdly, for Asian countries, monetary integration has a large temptation, coupled with the dependence on trade in the Asian region, which provides the possibility of Asian monetary integration.
In this background, President of Malaysia Mahathir put forward the concept of the Asian dollar in 1997, and the economist Robert Mundell, who enjoyed the reputation of "father of the Euro", expressed his views on changes of the world monetary pattern in the future during the 2001 APEC in Shanghai.
In the next 10 years, he said, there will be three major currency areas in the world, namely the euro area, the US dollar area and the Asian currency area. This judgment brought hope to build the Asian currency area.
Based on the ideas of Mundell and Mahathir, the Asian Development Bank calculated the common foreign exchange index for the Asia-Pacific region in 2006, which was the Asian Currency Unit ,ACU.
From the concept of the unit to the global conference today, the ACU experienced nearly 22 years of wind and rain and ground to achieve at last. It is understood that the eurozone has now all passed the trademark audit of the ACU, and 15 Asian economies such as Singapore, South Korea, Brunei and Hong Kong have also passed the trademark audit of the ACU. With the release of the white paper, the ACU will inevitably reflect its due value and status in the global economic integration.
We believe that a unified regional currency in Asia is a trend, and digital currency will no longer be a financial word that people dare not name, but will enter everyone's life with the application of block chain technology, so will the ACU. Let's look forward to the arrival of the ACU, an Asian economic integration led by China, and promoting a huge global financial change.