Digital currency is the trend of the times
In the morning of March 9, 2014 Beijing time, Jared Cohen, creative director of Google, said at the Sxsw conference this week that digital cryptocurrency similar to bitcoin will exist for a long time. Cohen and Eric Schmidt, Google's chairman, promoted their co-author book the new digital age at the conference
in the past few months, bitcoin prices have fluctuated significantly. At the same time, this digital currency is strongly supported by the hacker community and is closely related to some black markets. Cohen believes that bitcoin has its value, but it will bring risks if it is not regulated
mt.gox lost $400 million worth of bitcoin, which shakes the confidence of the outside world in bitcoin. Some critics even point out that "bitcoin is dead". However, Cohen's statement is a strong support for cryptocurrency technologies such as bitcoin
bitcoin can exist only because both sides of the transaction recognize its transaction value, so anyone can independently design a virtual currency. Ars technica, for example, announced this week that it would create its own cryptocurrency, arscoin
Cohen believes that the main threat to digital cryptocurrency is how to keep it safely, and the loss of mt.gox bitcoin once again highlights this problem. Recently, the US Congress has also launched a debate on digital cryptocurrency. Some members believe that the supervision of the bitcoin should be strengthened to avoid risks. Another congressman, Jared polis, believes that the US dollar has similar defects to bitcoin, so if bitcoin is banned, then the US dollar note should also be banned
digital currency has a short history in the world, but it develops rapidly. Many countries are trying to sum up experiences and lessons through official or non-governmental efforts
take Europe as an example. In 2015, the transaction volume of digital currency in relevant European countries and regions exceeded 1 billion euro. Although the total amount is not large, it is fierce
it was reported on January 2, 2016 that the Bank of England is also considering whether to issue digital currency by the central bank, and the research work is still in the initial stage. Andy Haldane, chief economist of the Bank of England, said that switching to digital currency would be "a great technological leap forward"
DNB, Norway's largest bank, has already cancelled the cash counter service. The bank called on the government to stop using paper money completely. According to the data, only 6% of Norwegians still use cash every day, most of them the elderly. The social cost of cash payment is twice that of electronic money payment. In one day's life, the payment of bus, shopping, payment, refueling, and even parking is completed by swiping the card. Only when the children's school holds a charity sale can the banknotes be used
compared with paper money, digital currency has obvious advantages, which can not only save the cost of issuance and circulation, but also improve the efficiency of transaction or investment, and enhance the convenience and transparency of economic transaction activities. The issue of digital currency by the central bank also ensures the continuity of financial policy and the integrity of monetary policy, and also ensures the security of monetary transactions
although the issuing method of digital currency is still under study, paper currency has been regarded as "the currency of the previous generation" by some professionals, and it is the general trend to be replaced by new technologies and procts. Due to China's large population and volume, the timetable for issuing digital currency is still uncertain. It is predicted that digital currency and cash will be in parallel and graally replaced for quite a long time. When the era of digital currency really comes, people will carry less and less cash, travel more and more safe, poverty alleviation more and more accurate, corruption more and more difficult to escape, and thieves more and more difficult
the arrival of digital currency is an inevitable requirement under the background of the great era , and the central bank's digital RMB has the nature of legal compensation. Digital RMB does not pay interest, and can be used in small, retail and high-frequency business scenarios. there is no difference with paper money and because of the legal compensation, we can't refuse to accept the central bank's digital RMB. Moreover, the digital currency Research Institute of the people's Bank of China says that it can realize the circulation of digital currency between different clients in the transaction process by means of technical solutions, generating new digital currency and canceling old digital currency
after being excited for such a long time, it turned out that it was just an oolong. However, some people said that this warm-up is likely that the digital currency will soon be issued and used. What's the use of digital currency? Is it the same as WeChat Alipay? In this regard, Wang Jian, chief analyst of Guoxin Securities financial instry, believes that the number of Renminbi and banknotes and coins are RMB cash. Alipay, WeChat payment and so on are just a payment tool. Through these two channels, the balance of personal bank card is still used, or the credit card is being brushed, and the digital Renminbi payment is used. What we spend directly is digital RMB, just like cash
Digital currency is just a trend and a challenge. The main feature of central bank digital currency is that it is legal tender issued by the central bank and has the same function as RMB on paper money. In fact, the central bank's digital currency is first exchanged by the central bank to banks or other operating institutions, and then by these institutions to the public, In terms of strengthening the function of global resource allocation, this is to continue to promote the expansion of the financial instry, open to the outside world, continue to gather a number of functional and headquarters institutions, and promote the development of the financial instry
Users who promote trade innovation and development, vigorously develop new business models and offshore trade online payment methods are relatively sticky, although people can tolerate new things, digital currency should not proce e-money payment in the short term; Impact & quot Looking forward to the long-term future, the implementation of digital currency can play a positive role in tracking abnormal transactions or exploring financial risks. The transaction data generated by digital currency is likely to be incorporated into the personal customer data system. Financial institutions can use big data analysis to accurately outline customer profiles and further tap customer value, The precipitation of these data can also provide the government with effective decision-making basis, realize the wise government and improve work efficiency
it is the general trend for the central bank to prepare digital currency, and it is feasible to replace cash transaction with digital transaction in theory and practice. In fact, it is the same. In the future, we will use digital currency more than cash, and digital currency payment will become the mainstream. However, bitcoin, lightcoin and other mainstream cryptocurrencies will be marginalized. There will be more digital currency asset certificates similar to those launched by European crowdfunding, but the service life will not be too long.
in fact, the core attribute of bitcoin, which was the first to practice the concept of digital currency, is that the total amount of bitcoin can be controlled, so it can be used to measure the value of other commodities rather than being determined by other commodities. Of course, in terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market
therefore, from a strategic perspective, under the background that informatization and digitization have become one of the main trends of economic development, the issuance of sovereign digital currency is the general trend.
bitcoin itself is not a currency in China and will not compete with the digital currency launched by the central bank. The digital currency to be issued by the central bank is just the digitization of RMB, as is the younger brother of bitcoin such as Ruitai and Laite. At this stage, bitcoin has been clearly defined as a special Internet commodity in the notice, and the central bank has issued the bitcoin risk notice at the end of 2013