How does the central bank control the amount of digital money

1.

The digital currency of the central bank is DCEP

the name of the digital currency developed by the central bank is DCEP (digital currency electronic payment). DC is digital currency. EP is electronic payment. Payment transmits digital things through a certain way, not paper currency. Therefore, electronic payment itself has the attribute of digital currency

The characteristics of digital currency are: low transaction cost; Fast trading speed; Highly anonymous

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Application of digital currency

I. fast, economic and safe payment and settlement

cross border payment helps RMB internationalization. In 2015, the settlement volume of cross-border payment involving current account is about 8 trillion yuan. To accelerate the internationalization of RMB, cross-border payment and settlement procts and solutions with low cost, high efficiency and low risk are needed

At present, there are still a lot of repetitive human work in the bank's electronic loan process and processing process, and as the basic support of loan issuance, many of the collateral has the situation of false pricing or multiple or even no collateral. We can consider using digital currency to price and track bank collateral:

3. Bill finance and supply chain finance

in recent years, various bill market businesses based on commercial bills have grown rapidly, and bill financing procts have become a hot area of Internet financing. However, about 70% of the current bill businesses in China are still paper transactions, Supply chain finance is also highly dependent on labor costs

reference materials

network digital currency

2. It is very clear in the speech of the central bank that the digital currency is M0. What is M0? M0 is cash. We speculate that the basic framework for the central bank to issue digital currency in the future should be a two-tier structure. The core is the database of the central bank, and the periphery is the blockchain of different instries, regions and third parties. Why? Only by using a decentralized system in the second layer can you ensure that the money is controlled by the users themselves and that the digital currency really becomes M0

we speculate that once the central bank issues digital currency in the future, the periphery of the structure must be a decentralized system. At present, blockchain is the best choice

when talking about digital currency, the central bank also mentioned another concept, which is called programmable currency. How to understand? For the computer, it has a certain internal self-control function. Take the early object-oriented language as an example, it requires at least two functions, one is the constructor, the other is the destructor. You have to solve the problem of its creation as well as its extinction

through programming, the central bank can control the whole life cycle of money creation, circulation and withdrawal

in the absence of digital currency and programmable currency, the currency issued by the central bank circulates freely in the society. How to return to the cage in the end? One is the return of derivative currency of commercial banks, the other is the return of basic currency of central bank. The former is controlled by the central bank through deposit reserve and other policies, while the latter is controlled by the tax system. If we go up to programmable digital currency in the future, the central bank will have much more control. Even in circulation, control can be increased. That's why central banks are very interested in blockchain technology.

3. According to an article on the official website of the people's Bank of China, the digital currency seminar of the people's Bank of China was held in Beijing on the same day to further clarify the strategic objectives of the central bank's issuance of digital currency, do a good job in tackling key technologies, study the multi scenario application of digital currency, and strive to launch the digital currency issued by the central bank as soon as possible
currently under study, many problems need to be improved slowly. Wait.

4. How to issue more money? At present, the digital currency of banks has been in a stage of additional issuance, and can not meet the market demand

5.

1. High liquidity

high liquidity is essential for every good and reliable digital currency. Every digital currency should have strong liquidity, not only in the scope of third-party trading platform, but also in offline entities or countries like bitcoin

Second, lower volatility

generally, volatility comes from the influence of third-party trading platform, which is similar to stock trading. Strong operators need to control the market to prevent the digital currency market from soaring or plummeting. Therefore, the volatility of a digital currency can show whether the digital currency can develop stably

Third, tradability one of the most important properties of digital currency is tradability. If a digital currency does not have tradability, the digital currency is basically useless. Only when a digital currency has tradability can it have liquidity and volatility

Fourth, the nature of decentralization digital currency has the characteristics of decentralization. Digital money is neither controlled nor manipulated by centralized entities. That is to say, no indivial or third party can obtain the user's digital currency

Fifth, the value of digital currency is increasing based on the market demand. It is not subject to government regulation or operation, which is not like legal money. The rise and fall of digital currency price depends on the transactions between users on the third-party trading platform

6.

There is no consistent definition of direct banking in China. In general, direct banking is a way that banks break the traditional counter business and can directly handle business on the Internet in order to attract more users and facilitate the use of customers. Users can handle business through web pages, mobile terminals, etc, Save a lot of waiting time for both sides. The business philosophy of this mode is to develop towards faster and more convenient business processing, which greatly reces the time and energy spent by users in banking business processing. Compared with the traditional banks in the past, direct banks mainly have the advantages of strong network dependence, accurate business procts, low cost, convenient and fast, but the relative strong network dependence is also a major factor hindering the development of direct banks. These characteristics make the transaction process of direct bank very simple, operation time is short, the staff is reced a lot, the use of fixed equipment and original procts is reced a lot, and the cost is greatly reced, which is an innovation for the bank to survive in the increasingly fierce competition

There are four trends in the development of direct banking

Technology enables the development of direct banking. The application of cloud computing, big data, artificial intelligence, blockchain and other new generation information technology will fundamentally change the operation mode of direct banking, improve service efficiency and level, and rece service cost. The specific ways are mainly reflected in the following aspects. One is to further improve user experience and service efficiency by introcing new technologies such as machine learning, virtual reality and biometrics; Second, through cloud computing, distributed architecture and other solutions, reconstruct the infrastructure deployment mode, rece operating costs, and build the ability to serve a large number of customers; The third is to use big data to improve the level of risk control, anti fraud, proct pricing, precision marketing, intelligent investment consulting, etc. In addition, blockchain and other technologies can provide strong support for the new financial transaction mode

In the process of using financial technology, on the one hand, direct banks should grasp the development trend of financial technology, and lay out the field of financial technology by strengthening talent reserve and technology accumulation, and communicating and cooperating with third parties. In the process of continuously enhancing the ability of self-control of core technologies and optimizing and improving the efficiency of the overall science and technology system, we should carry out learning and Research on emerging frontier technologies, apply innovation, cultivate data thinking, establish cooperation mechanisms between internal and external parties, and strengthen mutually beneficial cooperation with frontier high-tech enterprises in big data, cloud computing, artificial intelligence, blockchain, etc, Innovative laboratories such as intelligent risk control and precision marketing can be set up in the form of joint construction, and innovative projects can be researched and implemented to build an intelligent financial technology system with strong cloud computing and big data processing capabilities. On the other hand, it is necessary to build a standardized open business platform, formulate standardized cooperation docking process, build a standardized merchant cooperation platform system integrating docking, joint debugging, testing, online and operation management, quickly and efficiently promote technology docking and financial services standardized output, and use scientific and technological means to improve business capacity

2. The development strategy of platform will become the priority of direct banks in the future. In recent years, platform economy is rising rapidly. Among the top 10 companies with global market value in 2017, platform enterprises occupy as many as six seats, namely apple, Google, Facebook, Amazon, Alibaba and Tencent. Platform economy has become a worldwide trend business model and a new economic development paradigm, which has promoted the major changes in proction and lifestyle, and has increasingly become an important part of social economy

for commercial banks, the rapid development of platform economy has brought both opportunities and challenges. Platform enterprises gather a large number of merchants and customers. Merchants and customers have financial service needs. The platform has financial cross-border cooperation, data commercialization, business compliance and other needs, which puts forward new requirements for the traditional customer acquisition and service mode of commercial banks. The platform has rich resources such as business flow, logistics and capital flow, and is an important customer group of commercial banks

direct banking service platform will become the future trend. Through the construction of financial service intermediary platform, the direct bank realizes the integration of basic procts and services of the bank, interbank, non interbank and other institutions in the proct end, and creates the financial cloud of wealth management, network financing, payment and settlement, big data services. In terms of customer service, it will realize the integration of platform enterprises, small and medium-sized enterprises on the platform, small and medium-sized enterprises on the platform Comprehensive and comprehensive services for consumers on the platform

in the face of different platforms in the fields of consumption, instry and government affairs, the strategies of financial intermediary service platform constructed by banks are also different, which can be built according to three modes

(1) for those related fields that have not yet formed a platform for aggregation and specialization, direct banks can integrate internal and external resources, open up key nodes through self construction, M & A, investment and other forms, and build an in-house financial intermediary service platform to cover the whole scene of subdivided instries. Taking the acquisition of auto home by Ping An Trust in 2016 as an example, auto home, as a domestic auto vertical professional media, will not only obtain strong support from Ping An Group in terms of capital, but also become an important part of building an all-round auto service ecosystem for Ping An group. To build a platform model, it is generally necessary to rely on the resources of the group or parent bank to form a synergy of public and retail business; In addition, banks need to define their own service boundary, avoid large and comprehensive platform, resulting in excessive resource investment, and it is difficult to meet the personalized needs

(2) if a specialized platform has been formed in relevant fields, or the platform has not extended to the financial field e to regulatory requirements, direct banks can export financial procts and services through docking with such platforms

(3) the relevant fields have formed monopolistic resource integrators, and the services have been extended to the financial field, so it is difficult for banks to build their own platform to let the participants settle in. The relatively feasible solution for direct banks is to provide funds and financial services to the platform

3. Service scenario. In the future, direct banking procts will be a standardized proct that can be easily embedded into various financial scenarios. According to the view of a bank's senior financial practitioners, it is financial media. In the future, Internet banking and direct banking will become media tools for a bank to carry out mobile financial transformation. In the Internet dimension space, Internet banking and direct banking will become media tools, As a medium like air, it permeates into various scenes of financial services

4. Independent organizational structure. Most foreign direct banks adopt the independent legal person business model, and China's direct banks will graally develop in the direction of independence. With the official opening of Baixin bank, the first independent legal person direct bank in China, several independent legal person direct banks may be approved. The independent organizational structure of direct bank will have a positive impact on proct innovation, risk isolation from parent bank, mobilization of team enthusiasm, cost accounting, customer management, science and technology development mechanism, etc

In the process of independent corporatization of direct banking, the introction of external strategic investors will become one of the options. Through the introction of strategic investors, the capital strength can be improved. At the same time, through the docking with shareholders' resources, technology, scene, etc., the construction and development ability of direct banking ecology can be rapidly improved, and the coordination and win-win between direct banking and shareholders can be realized

7. First, change the amount of money

to regulate the money supply through open market operation
change the interest rate of central bank loans to commercial banks
secondly, it affects the reserve ratio
adjusts the statutory reserve ratio
changes the Reserve interest