Synopsis
The digital currency may have other definition. However, I give the digital currency a new definition in this book. Based on the MathAccounting software, the digital currency is the electric extension of the traditional money. The most advantage of the MathAccounting software is that it can embed an identity ID into every dollar in the process of money circulation regardless of the cash receipts and the cash payments. Because all members of the society in the world will touch money, all identity IDs of society members can be embedded in the money. Embedding an identity ID into the money can be achieved by adding the three-level subaccount to existing multi-subaccount name of the parent account “Cash”. Namely, the “MultiSubaccount Name” form of the “Cash” is the “Identity ID < Cash receipts from xxx or Cash payments for (to) xxx < Financial activities or Investment activities or Operating activities” in the MathAccounting software. I have developed two models of the simple digital currency and the mixed digital currency. The MathAccounting software is the technical support and security of the two models. The Simple digital currency means that there is not any paper money in the process of money circulation. Obviously, it is an ideal society and the MathAccounting software will be a perfect solution of the digital currency. The most advantage of digital currency is that the Tax Bureau can get the cash flows statement of an organization or company by data which is provided by other related organizations or companies. In this situation, drawing up false accounts, tax evasion, and money laundering will be impossible to occur. The mixed digital currency means that there is some paper money in the process of money circulation. In this situation, the MathAccounting software is also a good solution and the possibility of drawing up false accounts, tax evasion, and money laundering is very small. Moreover, taking some measures and doing analysis can prevent them to occur.
About the Author
Graduated from the Beijing University of Aeronautics and Astronautics, I immediately went to The National University of Defense Technology in Changsha, China. Three years later, I got my master degree and went to Shanghai XinLi Machinery Factory where I design and develop motors as an engineer. In 2005, I immigrated to Canada after having worked for many years. In 2007, I entered the Centennial College in Toronto, Canada to study accounting. During two years, I had had some thoughts about mathematical accounting and its software. I went to the York University in Toronto, Canada in 2009 and graduated with the Honors BAS four years later. After having taken many years to research and develop mathematical accounting model and its MathAccounting software, I opened the Foreverr MathAccounting Software Company Ltd. in February, 2015 (www.mathaccounting.com). For relaxation, I enjoy reading, driving, and travelling.
"About this title" may belong to another edition of this title.
