Trends of digital currency issuance

1. On November 13 this year, the official microblog of the people's Bank of China announced that the people's Bank of China has issued legal digital currency, and some institutions falsely use the name of the people's Bank of China to trade relevant digital procts under the title of "DC / EP" or "DCEP" on the digital asset trading platform. The central bank stressed that no legal digital currency (DC / EP) was issued and no asset trading platform was authorized to trade. Neither "DC / EP" nor "DCEP" traded in the market is legal digital currency, and the launch time of legal digital currency transmitted through Internet is inaccurate information<

at present, the so-called issuance of legal digital currency in the Internet, and the behavior of indivial institutions launching "DC / EP" or "DCEP" in the name of the people's Bank of China to conct transactions on the asset trading platform may involve fraud and pyramid selling. The general public should raise their risk awareness, not be partial to trust, and guard against interest damage
as early as September 4, 2017, the central bank and other seven departments jointly issued the announcement on preventing the financing risk of token issuance (hereinafter referred to as the announcement), pointing out that the issuance of virtual currency, ICO and other suspected illegal financial activities seriously disrupted the economic and financial order, and no organization or indivial may engage in the above activities illegally.

2. Usdt is the digital currency anchoring US dollar
DCC belongs to counterfeit currency
and has no value at all

3. The Chinese version of CBDC is described as digital RMB, which is issued by the people's Bank of China, operated by designated operators and exchanged to the public. It is based on the generalized account system, supports the loose coupling function of bank accounts, is equivalent to banknotes and coins, and has value characteristics and legal compensation
what we call DC / EP is the Chinese version of the central bank's digital currency, translated as "digital currency and electronic payment instruments"
the center for International Settlements (BIS) and the Committee on payment and market infrastructure (CPMI), two authoritative international organizations, jointly concted two questionnaires on more than 60 central banks in 2018 and 2019. The content of the questionnaire includes the work progress of central banks on digital currency, the motivation of studying digital currency and the possibility of issuing digital currency. 70% of central banks said they are (or will be) involved in the research of digital currency
response time: October 13, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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4. There is no established timetable for digital currency
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
in addition, Zhou Xiaochuan also mentioned that there is a lot of discussion about "51% attack" (assuming that indivials have 51% of the computing speed of the whole network, they can realize double payment, reverse transactions, paralyze the whole network, and completely lose the transfer function). More specifically, compared with the special currency, bitcoin does not need the central bank. Zhou Xiaochuan mentioned that for the digital currency controlled by the central bank, a series of technical means, mechanism design and laws and regulations will be adopted to ensure the security of the digital currency operation system, which is different from the design idea of bitcoin from the beginning
as for the digital currency timetable, Zhou Xiaochuan said that there is no established timetable. The relationship between digital currency and cash will be parallel and graally replaced for quite a long time. For reference.

5.

It is not currently available

at present, the Central Bank of China has not issued and approved the digital currency of issuers and investors

However, at the beginning of the year, the central bank held a seminar on digital currency, at which it made it clear that it was necessary to issue digital currency as soon as possible, and the central bank put the issue of digital currency on the agenda

however, so far, the central bank has not issued any digital currency, and Zhou Xiaochuan, the governor of the central bank, said that the time is not ripe to issue digital currency. Moreover, the digital currency issued by the central bank is different from bitcoin, Ruitai, Laite and other digital cryptocurrencies, and the digital currency issued by the central bank is not decentralized

< H2 > extended data:

when the central bank issues digital currency, it needs to establish a basic digital currency system. In this system, the central bank is in charge of the digital currency issuing bank, the commercial bank is in charge of the bank, and the public and indivials hold digital wallets. This is not much different from the existing monetary system in essence, but the managed currency is changed from paper money to digital cryptocurrency

in terms of issuing mechanism, there are two modes:

one is the traditional mode of "central bank commercial bank", that is, the central bank issues digital currency from the issuing bank of the central bank to the Bank of the commercial bank. When an indivial withdraws money from the commercial bank, the digital currency is transferred from the commercial bank to the personal digital wallet

another mode is the "central bank public" mode, that is, the central bank can directly issue digital currency from the currency issuing bank to the digital wallet of the public and indivials. In essence, no matter which issuing mode, money is ultimately held by the public, which is the debt of the central bank to the public

6. DCEP, when will digital currency be issued? At present, the 11th batch of central banks have announced the issuance, and have found several pilot cities, such as Suzhou and Hangzhou

7. The news that the Central Bank of China will issue digital currency has been reported in authoritative media such as NetEase Finance, Phoenix, Sina and Sohu. This is very big news for the digital currency circle, but the impact on the currency circle is very limited. The price fluctuation of bitcoin and counterfeit currency is small
because the digital currency to be issued by the central bank will be ten years later at the earliest, and the design concepts of this digital currency are different from those of bitcoin, Ruitai, Laite and Weimeng.

8. The calculation force obtained is that of URU

9. Not to mention a few streets, probably three years ahead of Ethereum. Let's not underestimate MOAC's IPFs. MOAC is the first technology in the world, and filecoin hasn't seen it yet; Don't underestimate the IOT that MOAC will come out soon. Now all the IOT projects can't be done; Don't underestimate the atomic cross chain of MOAC. Polkadot will take 2-3 years.