Is central bank digital currency related to Asian dollar ACU

1.

It doesn't matter

the central bank's digital currency is digital RMB, which is issued by the people's Bank of China. On March 9, 2018, Zhou Xiaochuan, then governor of the central bank, officially disclosed the name of the legal digital currency being developed as DCEP at a press conference

DCEP is the abbreviation of digital currency electronic payment. This means that the central bank's digital currency will have the al functions of legal currency and electronic payment at the same time

In September 2013, the Ministry of Public Security announced 10 typical pyramid selling cases, among which "Cloud Data Trade" is a large-scale pyramid selling mode in China

extended data:

specifically, the characteristics of DCEP are mainly reflected in finance and technology

1. As far as its financial characteristics are concerned, the functions and attributes of the central bank's digital currency are exactly the same as those of the RMB paper currency, which is only a digital version of the paper currency. This shows that digital currency is legal tender, and it depends on national credit to maintain the circulation system of digital currency. Mu Changchun, director of the digital currency Research Institute of the central bank, clearly pointed out that DCEP "is a digital payment tool with value characteristics"

In economics, M0 is often used to refer to the cash circulating outside the banking system. The central bank's positioning of DCEP is to replace M0, that is, to replace cash

2. In terms of technical features, the digital currency of the central bank has not fully adopted the blockchain technology. The blockchain research group of the digital currency Research Institute of the people's Bank of China has pointed out in a paper that the processing efficiency of the blockchain system needs to be improved. The encrypted assets based on this technology can not guarantee the stability of its anchored assets. At the same time, its decentralization also conflicts with the central bank's centralized management requirements

however, it is said that digital currency draws lessons from some of these technical concepts, such as asymmetric encryption, smart contract and so on. The new cryptocurrency system has the advantages of security, controllable anonymity and unforgeability, which makes up for the problems of high cost, difficult tracking and large counterfeiting

2. The central bank's digital currency is the legal digital currency approved by the State Council. The central bank organizes market institutions to engage in the corresponding work of the central bank's digital currency research and development

2019 August 21st, the official account of WeChat central bank released two articles on digital currency.

3. On the issue of issuing their own digital currency, central banks are always less thunderous. Central banks around the world are considering issuing their own digital currencies to compete with cryptocurrencies such as bitcoin, but they have been unable to do so for a long time

the media's attention to the central bank's digital currency has increased significantly, especially after Zuckerberg testified in Congress on the Libra issue and Christina Lagarde acknowledged the "clear demand" for stable currency at her first media reception as president of the European Central Bank, which seems to have changed the public's view on this matter, Let many people in cryptocurrency community think that cbdcs is in sight<

according to the latest survey report released by the bank for International Settlements, central banks in the past seven years have been investigating this technology and assessing its impact. Of the 63 central banks surveyed, 55 said they were unlikely to issue cbdcs in the next three years, and only one reported that they were "highly likely to issue large-scale cbdcs in the next three to six years."

although the proportion of central banks studying cbdcs is very high, the crux of the problem is that it is mainly theoretical and investigative work. Only five central banks have concted more in-depth research and real project development or experimentation - but that still does not mean that they will necessarily issue cbdcs

through close observation, it is more and more obvious that both Libra recently released by Facebook and the new stable currency assets have had a significant impact on the central bank. Today's situation took hundreds of years to form, but it changed in a few months; Competition, the most terrifying and unfamiliar concept that has never been thought of before and penetrated into the elite society of central banks, is now knocking at the door

it can be said that the solution to the current situation is still unclear. Some people who are familiar with these things even say that they are bluffing. However, in Lagarde's own words, the slow and wait-and-see regulatory approach can no longer meet the needs

1. What is central bank digital currency<

what is the difference between central bank digital currency CBDC and other digital currencies

CBDC is a new form of currency, which is directly issued by the central bank in digital form as legal tender. The current form of legal currency is cash, reserve deposit or balance settlement< There are two main differences between CBDC and other digital currencies (including cryptocurrency and other forms of central bank currency):

1. CBDC has nothing to do with cryptoassets. They're not decentralized, they don't have to be blockchain based, and they're certainly not anonymous, they're not unlicensed, they're not censored< 2. Contrary to the current digital cash, the operation structure of CBDC will be different from other forms of central bank currency. CBDC has more powerful functions. They are programmable, can generate interest, can be cleared in near real time, and have cheaper handling charges and wider openness

when designing CBDC, the speed of central banks is different. Different central banks adopt their own approach. However, in general, there are three problems being explored: whether CBDC should be based on token or account number, whether CBDC should be batch (only open to banks) or retail (open to the public), and whether it should be based on DLT

when CBDC is to be implemented, things will become complicated, and there are many thorny problems to be considered

for example, once CBDC is launched, does it need to cancel cash? Should CBDC carry interest? Should they have face value like cash? Or linked to the total price index? What impact will this have on commercial banks? What about anonymity and privacy? All these questions need to be answered<

2. Motivation for issuing CBDC

in the 2017 staff discussion paper, the Bank of Canada gave six reasons for issuing CBDC in an article entitled "central bank digital currency: motivation and impact":

1. Ensure that the central bank provides sufficient cash to the public, and maintain the seigniorage revenue of the central bank

2, Support non-traditional monetary policy

3. Rece overall risk and improve financial stability

4. Improve payment competitiveness

5. Promote financial inclusiveness

6. Curb criminal activities

looking back at the bank for International Settlements survey we analyzed earlier, payment security and domestic efficiency are selected as the most important motives of the central bank. According to a large number of papers published by the central bank and other large financial institutions, for developed countries, the transformation into a cashless society is the main driving factor, while for developing countries, financial inclusiveness, cost rection and operational efficiency are the main motivation

throughout the rest of the reports and the literature that can be found, the fierce competition brought about by bitcoin and other innovations in the cryptocurrency instry, as well as the clear need for "one step ahead", of course, are not listed as the reasons for issuing CBDC< The advantages and potential risks of CBDC are very low.

if the central bank starts to launch CBDC and succeeds in the end, there are many potential benefits

from a technical point of view, CBDC is much better than the current form of legal currency. They can be tracked better, collect taxes more conveniently, transmit monetary policy better, have better financial inclusiveness, and rece the cost of procing physical currency

the most obvious advantage is that payment is cheaper and faster, whether it is domestic payment or cross-border payment

in addition to the design and implementation problems, a key problem of issuing CBDC is that CBDC may increase the risk of bank operation. However, this only happens when banks promise that their deposits can be converted into CBDC on demand, which is not necessarily the case, according to the Bank of England document

4. Facts on the ground

how far is it from us to see a real CBDC appear in the market? It's hard to estimate, but at present, we can sum up the current situation in one sentence: all talk but no practice

if we put aside the failed digital currencies of Ecuador, Tunisia and Venezuela, we can only do theoretical research, a small amount of experiments, and issue some feasible CBDC issuance announcements supported by the state in the future

the most famous CBDC projects in progress are: e-peso in Uruguay (the project was successfully tested in 2018), DCEP in China, "project Inthanon" in Thailand, e-krona in Sweden (still in the research stage)...

5. The revolution has not yet been successful, and comrades still need to work hard

considering the factors mentioned above, Most of the headlines about CBDC's upcoming release are groundless. All projects scheled to be released this year have been delayed

in fact, there is still a long way to go for the birth of CBDC, and to convince the public, we need more than a statement. Given the current situation, it seems that CBDC and other cryptocurrencies may not affect each other - at least for now.

4.

Author: Xu Zelong Suzhou

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1

I don't know when, at the age of 40, it has become an unavoidable obstacle in the workplace

generally speaking, the longer the length of service, the greater the cumulative contribution to society, and the deeper the understanding of occupation and workplace. At the same time, the grasp and operation of the business will become more and more skilled with the growth of experience

moreover, you are 40 years old, energetic and experienced. It's the best time to show your ambition and upgrade your life

However, contrary to this common sense, although many professionals over 40 are business backbones in the company, they are also faced with huge work pressure and risk of being out of the game if they are not careful

What's more, it becomes more and more difficult to find a job

because more and more recruitment advertisements limit the age of candidates to below 40 years old

However, at the age of 40, when you are old and young, and perhaps you are carrying several mortgage loans, your economic income becomes very important

therefore, when more and more people are 40 years old, their inner anxiety becomes more and more serious

the shadow of ZTE programmers jumping off the building e to unemployment has not yet gone away, most of them are still in the rising and falling of the sun every day, people come and go, struggling with the day, biting their teeth to go on

"if only I could retire earlier!"

this may be the voice of many people

2

just, what you think seems too beautiful

on January 9, 2018, the people's daily again issued an article, saying that it would "timely study the graal delay of retirement age"

before that, a lot of information about "delayed retirement" has been disclosed in the major media

I believe that the four words "delayed retirement" will strike hard on the hearts of the physically and mentally exhausted wage earners who are already in the workplace

so, what should we do to survive to the end and retire smoothly

the deeper meaning of this question is actually to ask how to manage yourself well in your career and form your potential value energy. Even in the age of 40-50, you still have an irreplaceable sense of existence

to answer this question, we should first know why there is a so-called "midlife crisis" in the workplace

if the workplace is compared to a shopping mall, you are actually a commodity on the shelf, and the customer who purchases you is your boss

from this point of view, there are two reasons to be bought:

first, you have use value for the buyer, which makes the customer buy because they need you. Such as pots and pans, oil, salt, soy sauce and vinegar

secondly, you have established some kind of emotional resonance with your customers, which makes them buy because they like you. Like teddy bears, diamond rings, Mercedes Benz

when you see this, you should think that you are in the company because your boss needs you? Or like you

many people will say that the company is objective and rational, so the significance of my existence is more because it is needed and valuable for the boss

well, if you think so, then I'll ask you again, after 40 years old, your experience and quality are becoming more and more satisfactory, and your use value is becoming more and more prominent. Why is your sense of crisis still growing

Why do more and more enterprises indicate that they are under the age of 40 on major recruitment websites

3

when you start to think about these problems seriously and think about them in detail, some truths graally come to the surface

if 30 years ago, the older our predecessors were in state-owned enterprises, the more respected they were and the higher their wages were, the older they are in enterprises and society, the more marginalized they are

this is just like the popular Maotai, the longer it is put, the higher the value

now mobile phones are popular, and the price of a model often starts to drop as soon as it comes into the market. After a few years, even if it's free, no one will want it

I still remember that Ma Wei and Yi Zhongtian once became popular in the past ten years, and there were no empty seats in the 100 forums. Now, if any middle-aged person makes a counter offer and starts to dress in Tang costume, he will be ridiculed as "greasy uncle"

what people pursue is no longer Maotai and antiques, but mobile phones, cars, blockchain, cloud technology and fragmented reading

and all of these will depreciate rapidly with time after they are proced

As a result, new content and new technology are constantly iterating, which has become the demand trend now and in the future

similarly, as a commodity in the workplace, your life is getting shorter and shorter

in fact, the rules of the world have changed

don't talk about you, even the company, platform and even instry where you are, it may only take a few months for you to be iterated

therefore, in this era, if you emphasize your own use value and practicality again, and hope to gain a firm foothold with your own "strength", you are against the trend, and in the end, you will be mercilessly attacked

I remember not long ago, a friend of mine was running a bit slowly on his computer, so he said that he would add a memory mole when he got to the maintenance site. The computer repairer took a look and said that your motherboard has no empty card slot. It's enough to use the computer for several years. It's very expensive to buy a memory mole. It's better to buy a new machine. It's much more experiential, but it's not expensive

so, sometimes your regular customers don't buy you, not because you are bad, but just because they want to experience another one

In this Internet age, all kinds of experience and knowledge can be obtained at a very low cost, and a novice grows faster and faster. You spend decades to master things, a new generation of people, may only take a few years to do

just as China can do what developed countries can do in 10 years, it may only take a few years for you to be replaced by new people

in contrast, you will soon be "old and expensive"

the reality is so cruel that you are eliminated without any sign or reason

4

if you let go of your delusion about" strength "and start to explore how to make your own IP become an indispensable" meaning "in the eyes of others, then I think your working cycle will be prolonged a lot

just as customers will spend a lot of money in shopping malls to buy things that they "especially like", whether your personal characteristics can become a unique IP, so that more and more customers can become your fans, so as to establish a stable fan circle and career boundary monument is the "grand plan" for you to gain a firm foothold in the iterative trend

just like young people who like tea will line up to buy, fans who like Xiaomi will rush to buy in the middle of the night, and most successful people who like Mercedes Benz will always like it. The emotional bond between belonging and being belonging is the strongest barrier in this era and in the future

therefore, in the next few days, you may explore some of your characteristics that can be "liked" in the "sense" in addition to your conscientious work. Based on your working ability and social experience, you will systematize, systematize, export and carefully build them, until you can make a brand new start in this circle

then, in the workplace, continue to expand their circle, increase their energy levels, until the establishment of their own strong personal IP! Let others think of you, you can think of a specific "meaning", so as to proce emotional resonance

sometimes it's difficult to do this, because you need to re analyze your own characteristics, improve your own perspective, and shape your own system

but sometimes it's very simple. Maybe you should be more warm to the people around you, smile more and share more

or before doing anything in the workplace, think about whether my output is consistent with the IP content I want to build? Is my speech following the system path that I have already sorted out

but whether it's difficult or not, you need to seriously consider your direction

this is equivalent to adding a lever to your original career development. It is also equivalent to focusing your energy accumulated for more than 40 years on one direction and outputting it repeatedly in time. Finally, it will generate extremely strong potential energy through compound interest, just like Warren Buffett's so-called snowball, and become a benchmark or significance, so that others can no longer easily surpass it

try to give yourself meaning, otherwise you may not be able to retire at the age of 40

5. Blockchain technology has been popular in recent years, and its theoretical security has been proved for a long time. Nowadays, many financial institutions are experimenting with it, which has its own reasons. Do you still believe that the breakthrough of block chaining technology will be much more influential than Alipay?

6. On March 26, 2018,

7. In short, Asia dollar ACU is issued by Asia digital currency Co., Ltd., which is converted into offshore RMB 1:1. It has been recognized by many overseas financial institutions, and has registered Asia dollar trademarks in many countries and regions. It plans to open the first Asia dollar ACU flagship store in Hong Kong in the near future. Just like the US dollar, Asia dollar is an Asian currency. Anyway, it is still very promising.

8. What does that mean? There are a lot of things that have something to do with China, and more can be compared with them.