Central bank dominates legal digital currency

1.

Recently, there is relevant news that the central bank's digital currency is about to fall, which has attracted most people's praise. The relevant person in charge of the digital currency Research Institute said that the research and development of digital RMB is steadily advancing. At present, closed pilot projects have been carried out in Shenzhen, Suzhou and other places, and the functions are being continuously optimized and improved< Strong> after the central bank issues digital money, the daily payment will no longer need real name, nor do it need to use Alipay and WeChat to pay. It will bring great convenience to our life, and at the same time, it will change a lot. RRRRR}

the issue of digital currency is a trend, which will bring convenience to our lives. It also indirectly reflects the development of currency and social progress. After the use of digital currency, there will be a severe crackdown on crimes and other acts. The difficulty of money laundering will increase and criminal acts will be reced. The flow of money can be effectively queried through mobile app records, which has a great impact on social life

2. Really? On the morning of August 2, the people's Bank of China held a working video conference for the second half of 2019, proposing to accelerate the pace of research and development of legal digital currency in China in the second half of the year, track and study the development trend of virtual currency at home and abroad, and continue to strengthen the regulation of Internet financial risks
in fact, the country has been studying the field of digital currency, and digital currency and blockchain are the future development trend. As for when to issue, we can only say that when the time comes, it will be issued naturally. We need to ensure the steady operation of the financial economy.

3. Digital currency is a kind of legal encrypted digital currency, which is not only a payment tool but also a currency. It is essentially different from Alipay and WeChat payment. Alipay, WeChat payment and mobile phone banks are all electronic money, not digital money. These are all payment methods based on electronic accounts, which are in essence just a process of informatization of legal currency, not digital currency in a strict sense
moreover, it is totally different from q-coin and bitcoin. Commonly known as q-coin and bitcoin, these belong to virtual currency. Compared with digital currency, the most fundamental difference lies in the difference of issuers

virtual currency is the electronization of illegal currency. The issuer is not the central bank, and it can only circulate in a specific virtual environment, such as Tencent Q coin and other game coins; Digital currency can be used for real goods and services transactions, but only the digital currency issued by the state is legal digital currency, bitcoin is illegal digital currency

4. It's true, but the digital currency issued by the central bank is legal digital currency. It is equivalent to RMB. It is only temporarily used for inter-bank transfer, and it will take some time for private use. Friends can consider doing the research and development of Chinese yuan currency authorized by China digital currency Research Institute. At present, it has just started, and the price is still very low. See my name for more information.

5.

In the official letter of Xiangcheng District of Suzhou, enterprises, institutions and management committees of Xiangcheng District are required to sign a digital currency agreement with the wage paying bank, install digital wallets for all staff (except retirees), and pay 50% of the monthly salary in the form of digital currency

this is the first practical application of the central bank's digital currency since the R & D news, which is a historical moment worth remembering

let's review the development of DCEP:

in 2014, the central bank set up a special research group on legal digital currency

in 2016, it set up a digital currency Research Institute on the basis of the original group

in June 2018, it set up Shenzhen Financial Technology Co., Ltd.

in August 2019, the central government issued a document to carry out digital currency research and mobile payment pilot in Shenzhen

on October 29, 2019, At the "2019 Bund financial summit", Huang Qifan, vice president of China Center for international economic exchange, said: "the digital currency DCEP launched by the Central Bank of China is a new crypto electronic currency system based on blockchain technology." This is the debut of DCEP

On April 3, 2020, in the "national teleconference on money, gold, silver and security work", the central bank said that it would "unswervingly promote the research and development of legal digital currency"

On April 10, Zhou Xuedong, director of the general office of the people's Bank of China, pointed out at the "first quarter financial statistics press conference" that "with regard to digital currency, the people's Bank of China is advancing in an orderly manner according to the original plan."

on April 14, the central bank's digital currency DCEP took the lead in the internal test of ABC

on April 16, Xiangcheng District of Suzhou realized the implementation of the first application scenario of central bank's digital currency DCEP, using "digital wallet" as the payment channel and issuing it in the form of transportation subsidies

judging from various actions, the central bank's plan for digital currency is well prepared and in an orderly and continuous progress

why DCEP

from the national level, it is well known that the macroeconomic regulation and control means of sovereign countries are mainly through monetary policy and fiscal policy, just like the current global lack of liquidity e to the epidemic, China's economy is stimulated by interest rate rection and government spending, but the funds are transmitted layer by layer, and there are few funds really used for the target range

if we use the central bank's digital currency system, we can analyze and track a large number of transactions, and use the most direct and efficient means to put funds where they need, so as to release liquidity and benefit the people

from the international level,

the use of blockchain technology can realize the review of national credit and increase the credit of the country's monetary system. With the increase of GNP, credit must also increase, and the process of RMB internationalization will be more rapid

this is very simple to understand. Blockchain technology makes it impossible for asset certificates to be forged and makes credit verifiable, which is naturally concive to RMB internationalization

Last year, the World Bank Group and the International Monetary Fund (IMF) issued a report that up to now, nearly 70% of the central banks are studying the digital currency of the central bank, which also shows that the digital wave is the general trend. At present, the central bank's digital currency DCEP is likely to be used on a large scale ahead of other countries in the world, and the era of digital currency is coming

the era of digital economy is getting closer and closer

today's era is a digital era. With the comprehensive rise of technological innovation and digital economy, science and technology has changed from the initial role of a tool to the backbone of financial reform. The continuous collision and integration of digital five complete genes (whole airspace, whole process, whole scene, full analysis, and full value) and financial instry not only changes the settlement and settlement methods and sovereign currency issuance mechanism among indivials, enterprises, and countries, but also greatly improves the operation efficiency of instrial chain, and brings the development of the whole economic society and human progress

if blockchain technology will "genetically transform" all walks of life, then digital currency will "genetically transform" the financial instry. Looking forward to the future, the in-depth integration and transformation of traditional instries by blockchain, artificial intelligence, cloud computing, Internet of things and other technologies will lead us into a new era of digital economy

in short, the era of digital economy is getting closer and closer to us

the implementation of the central bank's digital currency is bound to bring disruptive changes to the existing financial market and breed huge wealth opportunities. The future has come, the wind has come, keep up with the pace of the instry, accurately grasp the future trend, and quickly seize the blue ocean of wealth business

6. Central banks study numbers or currencies. Electronic money and paper money will have a certain impact. It reces the circulation of paper money. Improve the speed and efficiency of circulation.

7. The only value that digital currency trading system brings us is that we can use digital currency to exchange legal currency. After all, digital currency is not legal currency and it is not mandatory. Digital currency is still a niche proct. The global recognition of digital currency is not high, especially for ordinary people
however, some of the so-called digital currency systems are deceptive in themselves. Authentic digital currency generally refers to bitcoin, Leyte currency, decent and other digital cryptocurrency.