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Foreign exchange NFT processing
Digital economy is an advanced stage of information economy development. Since 202 1, the popularity of NFT has made people see the infinite possibility of capitalization of digital art. However, with the rapid expansion of NFT, government governance and financial supervision under the digital ecology are also facing unprecedented challenges, and the establishment and protection of digital rights and interests has become a key issue in the digital economy era. In order to solve these problems, a new word "NFR" appeared quietly in China market.

202110/4 Under the guidance of itei, China Mobile Communications Federation, Beihang Digital Society and Blockchain Laboratory, Tsinghua University Information National Research Center and other units jointly issued the White Paper on Heterogeneous Rights-Application of Blockchain Technology in Digital Rights (hereinafter referred to as the White Paper).

Before understanding NFR, let's review the basic concepts of NFT. "Heterogeneous token", that is, "heterogeneous token", is still a digital token in essence.

In China, the issuance, exchange and use of "tokens" are prohibited, so it is obviously against the law to conduct NFT transactions. Moreover, cross-border payment based on digital tokens is equivalent to opening a foreign exchange money laundering channel for criminals. In addition, NFT lacks a perfect authentication mechanism and a standardized supervision mechanism, and naturally there is no way to protect the rights and interests of investors. Therefore, considering the security and stability of domestic digital economy, NFT must have a legal and compliant innovation path to develop healthily in China. Therefore, NFR has become a useful exploration of "NFT China".

The white paper puts forward the basic concept of NFR, that is, "heterogeneous rights", which is a digital asset or a digital representative with unique asset ownership. It is created on the basis of computer code using blockchain technology, used to record the digital ownership of basic physical or digital assets, and constitutes a unique authenticity certificate.

Through the interpretation of these two concepts, we can analyze the changes and invariance of digital works of art from NFT to NFR.

First of all, they all have heterogeneous characteristics. NFR, like NFT, is unrepeatable, indivisible and unique. The so-called "heterogeneity" means that the data stored in the chain are unique and inseparable, and they are all complete and independent individuals.

Second, they all use blockchain technology. The White Paper on the Development of Digital Economy in China pointed out: In the era of digital economy, data is a new key factor of production. Therefore, the blockchain technology that can ensure the authenticity and reliability of data has become the basis of the credibility of the digital economy. NFR, like NFT, has the advantages of blockchain. The data is traceable, open and transparent, and cannot be tampered with. All transactions are time stamped and ownership can be proved. Even if the work is widely spread on the internet after being copied and pasted, the ownership of the work will not change.

Both NFR and NFT were born based on the development of digital economy. The integration of digital technology and economic society has continuously expanded the space for human cognition and growth. However, there are innovative changes from NFT to NFR, which can be divided into two points.

First, the essence has changed. Although NFR and NFT differ only by one letter, they are completely different in essence. T-"token "highlights the attribute of" token ",while R-"rights" emphasizes the function of "rights". Unlike NFT, which is essentially a digital symbol, NFR is a digital work of art. It does not use any tokens, and there will be no loopholes in money laundering. It has a sound legal supervision framework and certification mechanism, is legal and compliant, and can effectively protect the rights and interests of investors.

Generally speaking, the Internet is not a place of extra-legality, and the digital economy is not a means of illegal realization. The biggest difference between NFR and NFT lies in legal compliance. As the white paper says: "NFR and NFT are completely different and represent a new combination of art and technology. The core advantage of NFR is that it has a legal regulatory framework, which can be implemented through technology and empowered through the legal framework. "

Unlike NFT's "supporting the virtual with the real", NFR is "supporting the real with the virtual". In other words, we developed NFR to help the real economy expand its market in a virtual environment, increase its market value, and empower the entity with numbers, instead of the real economy being hollowed out by the virtual world. Therefore, as a digital work of art, the value of NFR lies not in the digital means, but in the attached value of the work of art itself.

Stepping into the era of digital civilization, many policies have been introduced at the national level for the digital economy. The Tenth Five-Year Plan for the Development of Information and Communication Industry issued by the Ministry of Industry and Information Technology points out that the future is a crucial period for building a network power and a digital China.

Facing the development of digital economy and real economy, we can't just develop real economy and ignore digital economy. Similarly, we can't just develop the digital economy and ignore the real economy. The relationship between digital economy and real economy is like the palm and back of a person's hand. They are interdependent and indispensable.

Obviously, the integration of digital economy and real economy is the inevitable development direction in the future. In the era when everything can be digitized, the appearance of NFR combines the digital economy with the real economy, and solves the contradiction between the digital economy and the real economy.

As one of the pioneers in the industry, Heshuo Encryption Technology Service Company has also launched a new generation of digital art communication platform-UTONNFR. It can be said that NFR is the development mode and path of NFT in China, and it is a compliance means for us to explore the confirmation, storage, transfer and circulation of digital rights and interests, which provides new possibilities for empowering the digital transformation of economy and society.