Method and system for converting digital currency into physical cash

Abstract

The invention provides a method and system for exchanging digital currency into physical cash to solve various deficiencies in the prior art. The method of the present invention includes: the user terminal equipment selects equivalent digital currency in the digital currency wallet according to the cash amount input by the external operation; the user terminal equipment sends the digital currency to the central bank digital currency system through the commercial bank digital currency system; the central bank The digital currency system generates a one-time withdrawal code and then sends it to the user's terminal device for presentation to the user, and changes the ownership information of the digital currency from the user to the central bank; the commercial bank digital currency system sends the one-time withdrawal code provided by the user To the central bank's digital currency system; the central bank's digital currency system confirms that the one-time withdrawal code is valid, then increases the cash amount in the commercial bank account, and feeds back to the commercial bank's digital currency system; the commercial bank's digital currency system issues a contribution instruction based on the feedback.

Description

technical field [0001] The invention relates to the technical field of computer network and computer software, in particular to a method and system for exchanging digital currency into physical cash. Background technique [0002] Digital currency is a currency that converts cash values ​​into a series of electronically encrypted serial numbers. The security of the currency itself depends on cryptographic algorithms for protection. In terms of cryptographic algorithms, the security of digital currency systems involves symmetric ciphers, asymmetric ciphers, message digest algorithms, and identity-based cryptographic systems. In terms of system implementation, the overall security of cryptographic systems, the selection of cryptographic algorithms, and cryptographic algorithms must be deeply considered. The implementation of algorithms, the design of interactive protocols, the compatibility of international and domestic standards, etc., ensure the security of digital currency t...

AI Technical Summary

Problems solved by technology

[0010] 2. Non-repeatable spending: digital currency can only be used once, and repeated spending can be easily checked;

[0011] 3. Controllable anonymity: Banks and merchants cannot track the use of digital currency even if they collude with each other. It is required that the system cannot link the purchase behavior of users of electronic cash together, thereby concealing the purchase history of digital currency users. However, the issuer of digital currency Use of digital currency can be tracked;

[0012] 4. Unforgeability: Users cannot forge fake digital currency;

[0021] The above-mentioned bills that can be exchanged for cash are usually in paper form, and are prone to be lost, stolen, forged, etc.

These bills need to be manually converted into cash by bank staff at the bank counter, which cannot be done by themselves, which will consume the time and energy of the bill holders

When redeeming, it needs to be redeemed all at once, and cannot be split flexibly

Some bills also have a certain period of time, which is inconvenient to use

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