The central bank's digital currency is involved
Publish: 2021-05-26 13:17:49
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.
On November 9, 2019, the central bank has not launched digital currency
in 2014, the Central Bank of China set up a special research team to conct in-depth research on the framework of digital currency issuance and business operation, key technologies of digital currency, issuance and circulation environment, and legal issues
in January 2017, the central bank officially established the digital currency Research Institute in Shenzhen
in September 2018, the Institute of digital currency built a trade finance blockchain platform
On July 8, 2019, at the launching ceremony of the digital finance open research program and the first academic seminar, Wang Xin, director of the Research Bureau of the people's Bank of China, disclosed that the State Council has officially approved the research and development of the central bank's digital currency, and the central bank is engaged in corresponding work in organizing market institutions
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benefits of digital currency
the digitalization of central bank's currency helps to optimize the central bank's monetary payment function, improve the central bank's monetary status and the effectiveness of monetary policy. The central bank's digital currency can become an interest bearing asset to meet the holder's reserve demand for safe assets, and can also become the lower limit of bank deposit interest rate. It can also become a new monetary policy tool
at the same time, the central bank can affect the bank deposit and loan interest rate by adjusting the digital currency interest rate of the central bank, and help to break the zero interest rate lower limit
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
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html
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
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html
4. The people's Bank of China has designed a two-tier architecture for digital currency
specifically, according to Yao Qian, director of China digital currency Research Institute, the design framework of central bank's digital currency is mainly convenient and efficient, safe and controllable, and popular development
as for the two-tier framework, the two-tier framework is the central bank and the commercial bank, based on the account and wallet. This framework is to combine the original bank account system with the account system based on digital currency wallet
in blockchain technology, digital currency is separated from legal currency system and bank account system. Otherwise, together, it will cause chaos. Considering this problem, Yao Qian introced digital currency wallet into the account system of commercial banks. In this way, an account can manage both electronic currency and digital currency. Of course, this kind of design has a great impact on the current banking system, but it is also a resource for commercial banks with mature system
how does digital currency wallet work in commercial banks
bank accounts and digital currency wallets of commercial banks have common management features. In this case, bank accounts and digital wallets have different positioning. According to the wallet standard designed by the central bank, a wallet is equal to a safe deposit box. According to the requirements of customers, the bank will manage the safe deposit box as all the properties of cryptocurrency. This framework adds a Digital Wallet ID field to the bank account. In this way, the wallet has the function of a safe deposit box and does not participate in the business, so as to avoid affecting the core business of the bank
digital currency transfer can be directly transferred in the commercial banking system, or through the note issuing bank using the client-side digital wallet, direct point-to-point transactions, so that there is no need to rely on inter-bank payment between account banks< In a word, digital currency wallet is the personal wallet in the commercial banking system
theoretically, the payment system deals with demand deposits, while digital currency is in the category of cash
is the digital currency issued by the central bank decentralized
Yao Qian said that the biggest issue facing the instry now is whether decentralized distributed ledger should be used at the top level
Central Bank digital currency is more convenient and can develop into controllable anonymity through centralized issuance and account based weak association. However, in the digital world, we cannot confuse the economy and finance behind the numbers. Although they are all numbers, they represent different assets, so the central bank will keep them in mind when designing. We want to have a mature financial infrastructure for legal digital currency, but considering that the note issuing bank is only responsible for the digital currency itself, and the account bank is responsible for the actual management business, so as long as the specific application is implemented, the note issuing bank and the account bank will perform their ties and do their best
then the characteristics of the central bank's digital currency are
1. Digital currency, like RMB, has stable value
2. The operation mode is the same as RMB, which is endorsed by the national credit and issued by the central bank, and all commercial banks exchange it into the market
3. Digital currency issuance relies on big data, because it has the possibility of real-time collection of currency bookkeeping, flow, transaction, etc., which can provide help in anti money laundering
4. After digital currency replaces paper currency, it will play a positive role in preventing counterfeit banknotes, changing change, and preventing damage and loss ring transaction storage
5. It will rece the waste of resources. The proction and printing of paper money need cost, while the proction of digital currency depends on big data, so it will rece the waste of resources
therefore, with the advent of the central bank's digital currency, personal participation will have less opportunities to make money
I hope it can help you
hope to adopt it
specifically, according to Yao Qian, director of China digital currency Research Institute, the design framework of central bank's digital currency is mainly convenient and efficient, safe and controllable, and popular development
as for the two-tier framework, the two-tier framework is the central bank and the commercial bank, based on the account and wallet. This framework is to combine the original bank account system with the account system based on digital currency wallet
in blockchain technology, digital currency is separated from legal currency system and bank account system. Otherwise, together, it will cause chaos. Considering this problem, Yao Qian introced digital currency wallet into the account system of commercial banks. In this way, an account can manage both electronic currency and digital currency. Of course, this kind of design has a great impact on the current banking system, but it is also a resource for commercial banks with mature system
how does digital currency wallet work in commercial banks
bank accounts and digital currency wallets of commercial banks have common management features. In this case, bank accounts and digital wallets have different positioning. According to the wallet standard designed by the central bank, a wallet is equal to a safe deposit box. According to the requirements of customers, the bank will manage the safe deposit box as all the properties of cryptocurrency. This framework adds a Digital Wallet ID field to the bank account. In this way, the wallet has the function of a safe deposit box and does not participate in the business, so as to avoid affecting the core business of the bank
digital currency transfer can be directly transferred in the commercial banking system, or through the note issuing bank using the client-side digital wallet, direct point-to-point transactions, so that there is no need to rely on inter-bank payment between account banks< In a word, digital currency wallet is the personal wallet in the commercial banking system
theoretically, the payment system deals with demand deposits, while digital currency is in the category of cash
is the digital currency issued by the central bank decentralized
Yao Qian said that the biggest issue facing the instry now is whether decentralized distributed ledger should be used at the top level
Central Bank digital currency is more convenient and can develop into controllable anonymity through centralized issuance and account based weak association. However, in the digital world, we cannot confuse the economy and finance behind the numbers. Although they are all numbers, they represent different assets, so the central bank will keep them in mind when designing. We want to have a mature financial infrastructure for legal digital currency, but considering that the note issuing bank is only responsible for the digital currency itself, and the account bank is responsible for the actual management business, so as long as the specific application is implemented, the note issuing bank and the account bank will perform their ties and do their best
then the characteristics of the central bank's digital currency are
1. Digital currency, like RMB, has stable value
2. The operation mode is the same as RMB, which is endorsed by the national credit and issued by the central bank, and all commercial banks exchange it into the market
3. Digital currency issuance relies on big data, because it has the possibility of real-time collection of currency bookkeeping, flow, transaction, etc., which can provide help in anti money laundering
4. After digital currency replaces paper currency, it will play a positive role in preventing counterfeit banknotes, changing change, and preventing damage and loss ring transaction storage
5. It will rece the waste of resources. The proction and printing of paper money need cost, while the proction of digital currency depends on big data, so it will rece the waste of resources
therefore, with the advent of the central bank's digital currency, personal participation will have less opportunities to make money
I hope it can help you
hope to adopt it
5. 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.
2019 August 21st, the official account of WeChat central bank released two articles on digital currency.
6. The issue of digital currency has many benefits and is imperative. According to the central bank, digital money and paper money will coexist for a long time to come. When people go to the bank to withdraw money, they can not only withdraw cash directly, but also exchange it into digital currency. In Xiaobian's opinion, the establishment and issuance of digital currency system can not only make people's transactions more convenient and safe, but also graally weaken the proportion of paper money in the real circulation, which will also have a positive impact on the electronic disk of postal money card
when people are used to digital currency, paper money will graally withdraw from the circulation market and enter the collection field. In the new environment of payment and circulation, the traditional paper money will become a symbol of an era and a memory of people. The paper money that used to circulate in the market will also become a kind of cultural and artistic investment goods, active on the electronic disk of the post money card. And those earlier and even rarer coins will also stimulate their prices to rise in this situation. It can be seen that the central bank's graal promotion of digital currency will have a profound impact on people's living habits and investment and financial management, which is worth looking forward to Sohu)
however, digital currency does not have to be used for payment. Some domestic application-oriented digital currencies have begun to find another shortcut and come out with a different truth. For example, coin Ying China crowdfunding project token; Puyin group launched the tea based digital currency Puyin.
when people are used to digital currency, paper money will graally withdraw from the circulation market and enter the collection field. In the new environment of payment and circulation, the traditional paper money will become a symbol of an era and a memory of people. The paper money that used to circulate in the market will also become a kind of cultural and artistic investment goods, active on the electronic disk of the post money card. And those earlier and even rarer coins will also stimulate their prices to rise in this situation. It can be seen that the central bank's graal promotion of digital currency will have a profound impact on people's living habits and investment and financial management, which is worth looking forward to Sohu)
however, digital currency does not have to be used for payment. Some domestic application-oriented digital currencies have begun to find another shortcut and come out with a different truth. For example, coin Ying China crowdfunding project token; Puyin group launched the tea based digital currency Puyin.
7. The so-called accession to the central bank's digital currency should be cautious. The central bank has never issued legal digital currency
(1) the monetary gold and silver Bureau of the people's Bank of China (PBOC) issued a "risk warning on issuing or promoting digital currency in the name of the people's Bank of China" on its official website, saying that indivial enterprises falsely use the name of the PBOC to label relevant digital procts as "authorized by the people's Bank of China", or falsely claim that the central bank's digital currency promotion team, in an attempt to deceive the public and take the opportunity to make huge profits
(2) the central bank said that at present, the central bank has not issued legal digital currency, nor authorized any institutions and enterprises to issue legal digital currency, and there is no promotion team. At present, the so-called "digital currency" in the market is not legal digital currency. The so-called "digital currency" launched by some institutions and enterprises and the so-called promotion of the central bank's issuance of digital currency may involve pyramid selling and fraud
(3) the central bank emphasizes that the legal tender of China is RMB. RMB shall be uniformly printed and issued by the people's Bank of China. No unit or indivial may refuse to pay all public and private debts within the territory of China in RMB. The general public should establish a correct concept of currency, take good care of RMB and jointly maintain the normal circulation order of RMB.
(1) the monetary gold and silver Bureau of the people's Bank of China (PBOC) issued a "risk warning on issuing or promoting digital currency in the name of the people's Bank of China" on its official website, saying that indivial enterprises falsely use the name of the PBOC to label relevant digital procts as "authorized by the people's Bank of China", or falsely claim that the central bank's digital currency promotion team, in an attempt to deceive the public and take the opportunity to make huge profits
(2) the central bank said that at present, the central bank has not issued legal digital currency, nor authorized any institutions and enterprises to issue legal digital currency, and there is no promotion team. At present, the so-called "digital currency" in the market is not legal digital currency. The so-called "digital currency" launched by some institutions and enterprises and the so-called promotion of the central bank's issuance of digital currency may involve pyramid selling and fraud
(3) the central bank emphasizes that the legal tender of China is RMB. RMB shall be uniformly printed and issued by the people's Bank of China. No unit or indivial may refuse to pay all public and private debts within the territory of China in RMB. The general public should establish a correct concept of currency, take good care of RMB and jointly maintain the normal circulation order of RMB.
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