A Universal Equivalent Currency Hubee

Abstract

Universal digital equivalent currency is the equivalents of all negotiable instruments, including paper or electronic money, securities, bills, etc. This paper discusses the basic requirements of universal digital equivalent currency, that is, universality and advance; discusses the technical issues that must be solved for equivalent currency, such as the proof of authenticity of the identifier claimed by the subject, the proof of the attribution of currency and the prevention of duplication, the unification of payment currency and settlement currency, The design goal of equivalent currency is to overcome the defects of the previous negotiable instruments, integrate all advantages into one, which can be used in online and offline, universal in payment and settlement, convenient. This paper takes Hubee as an example to illustrate the whole operation process of digital equivalent currency. Only in this mode, an account can define a serial-no for preventing replication; can define the payee’s account to prove the flow of funds; which makes currency not to be afraid of lost and make account book not to be afraid of theft.