White paper on Puercoin released in Hong Kong

(APD writer Lin Yue)The press conference of PEB (Puercoin): White Paper on Digital Currency with Standard System & Global Exchange and Settlement System of Digital Currency was held in Hong Kong on Nov. 9, 2016.

Experts and scholars, financiers, bankers and political leaders of China and other countries from the field of digital currency attended this conference and discussed the topic of ways to realize the standard attribute of digital currency through encrypted digital assets, the blockchain-based application scenarios of digital currency with standard system, and the open source application of blockchain, etc.

Ye Qiang，the chairman of the board of the Puer Bank, gives speech at the press conference of the white paper on puercoinin Hong Kong on Nov. 9, 2016.Photo: APD/Zhu Yi

Ye Qiang, the chairman of the board of the Puer Bank and the writer of the white paper, elaborated the contents of the White Paper on the conference. In the white paper, Ye describes the generation and future operation model of the Puercoin in a lively and philosophical language style of the ancient Chinese literature, I Ching, and introduces this creative financial product bearing profound Chinese tea culture to the rest of world in the background of the fast developing internet.

The launching ceremony of the PEB:White Paper on Digital Currency with Standard System & Global Exchange and Settlement System of Digital Currency in Hong Kong on Nov. 9, 2016.Photo: APD/Zhu Yi

The digital currency experts, including American digital currency researchers and S. Korean blockchain technology specialists, had discussions on the philosophy of the digital currency with the standard system. They discussed about the future development of both the blockchain and the digital currency with standard system and the value of the white paper was appreciated.

As a feast of digital currency, this conference represented the ripening and maturing of the digital currency market in the Chinese mainland, while the leading international philosophy of digital currency with standard system was firstly proposed and practiced, according to Ye. Attendees discussed topics including China's digital currency technology and its impacts, and how to seize the opportunity to promote the rapid development of international blockchain technology.

Performance of tea art atthe press conference of the white paper on puercoinin Hong Kongon Nov. 9, 2016.Photo: APD/Wang Xi

The conference has great significance on the prospect of the blockchain technology development and application, Ye said. According to Ye, the primary issue in the practice of the digital currency with standard system is the choice of standard asset. The Puer Bank chose the tea of collection class as the standard asset to issue digital currency, which is the Puercoin.

"As the first sample of digital currency with standard system, the Puercoin wrote the concept of standard system into the blockchain technology area," Ye said, "the Puercoin marks the original position with the unchangeable time stamp of the blockchain and represents the innovation and advance of China’s digital currency technology."

(APD)