Financial Penetration Practice Of Virtual Currency In Traditional Industry

IT revolution has become an important driving force for social andeconomic development. With the booming and rapid development of Internet,value-added internet products and services continue to emerge. Virtualcurrency, as a new exchange medium and means of payment, greatlyimproves the micro-payment environment and efficiency. Virtual currency iswidely used, and begins to infiltrate from the internet environment totraditional industries. Currently, most studies on the virtual currency arefocused on internet applications (including online communities, online games,etc.), while little research was done on the impact of virtual currencypenetration into traditional industries.For these reasons, on the basis of previous studies, the author started fromthe definition and background information of virtual currency, along with thestudy of challenges and dilemmas of Internet development, to explore theindustrial basis of virtual currency development. Meanwhile, for varioustypes of virtual currency that may be developed in traditional industriesthrough different modes of operation, the author established a systematicanalytical framework ofvirtual currencygeneration, transferal, exit, andcommunication of virtual currency with real currency and the real economy,to better integrate the correlation and impact of virtual currency in the activity of traditional industries, so as to establish a substantial relationshipbetween its various system, for a comprehensive and systematic study on theissuer, the consumer, intermediate channel, payment system and nationalregulatory of virtual currency.Furthermore, this paper established the issuance, transferal andwithdrawal mechanism mode of virtual currency in traditional industries.Through detailed analysis, the author did in-depth study on the impact ofvirtual currency on the issuer, users and macroeconomic entities, in order toobtain a comprehensive understanding and deep insight on virtual currency.On this basis, the author explored the problems of virtual currency, especiallyon the widely concerned reflux and leakage problem, third-party virtualcurrency trading problem, and its impact on China’s micro-payment systemand real economy. Finally, policy recommendations were made onrestructuring traditional enterprises, accelerating penetration of virtualcurrency and establishing effective regulatory system.