How does legal digital currency come into being
China does not issue digital currency, and all the existing digital currencies are illegal
the central bank pointed out that no legal digital currency has been issued, and no institutions and enterprises have been authorized to issue legal digital currency. At present, the so-called "digital currency" in the market is not legal digital currency
virtual currency is the electronization of illegal currency, and its original issuer is not the central bank. This kind of virtual currency is mainly limited to circulation in a specific virtual environment. Digital currency can be used for real goods and services transactions, but only the digital currency issued by the state is legal digital currency
"the legal currency of our country is RMB." In the risk warning, the monetary Bureau of the people's Bank of China once again stressed that RMB is uniformly printed and issued by the people's Bank of China
extended information:
with the soaring price of virtual currency represented by bitcoin, digital currency and the blockchain technology behind it have attracted great attention of the global financial community. In fact, legal digital currency has not yet been issued in China. Recently, the official website of the monetary Bureau of the people's Bank of China (PBOC) released the risk warning on issuing or promoting digital currency in the name of the people's Bank of China
in 2013, the central bank, together with five ministries and commissions, issued the notice on prevention of bitcoin risks, which clearly defined non legal digital currencies such as bitcoin as virtual commodities, which do not exist in the form of currency and legal currency
At the same time, digital money is different from electronic payment. In the actual use experience, digital money and electronic payment may feel similar, but they are still quite different in essence. Before digital currency, the financial instry has been highly informationizedsuch as Internet banking, WeChat, Alipay and other payment electronic popularization graally, physical cash accounts for only a very small part of all circulating currencies. In spite of this, because the money used in the transaction comes from the bank account, it actually corresponds to the banknotes
currently, digital currency in the market involves multi-level marketing
digital currency is a new technology that can improve the efficiency of transaction, but it is targeted by lawless elements to carry out pyramid selling and fraud in its name
the official website of the monetary Bureau of the people's Bank of China issued the risk warning on issuing or promoting digital currency in the name of the people's Bank of China. The central bank pointed out that recently, indivial enterprises falsely used the name of our bank to label relevant digital procts as "authorized issuance by the people's Bank of China", or falsely claimed that the digital currency promotion team of the central bank issued, in an attempt to deceive the public and take the opportunity to make huge profits
in the risk warning, the central bank stressed that the 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
at the same time, 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. The general public should raise their risk awareness, invest rationally and prudently, and prevent the interests from being damaged
moreover, it is totally different from q-coin and bitcoin. Commonly known as q-coin and bitcoin, these belong to virtual currency. Compared with digital currency, the most fundamental difference lies in the difference of issuers
virtual currency is the electronization of illegal currency. The issuer is not the central bank, and it can only circulate in a specific virtual environment, such as Tencent Q coin and other game coins; Digital currency can be used for real goods and services transactions, but only the digital currency issued by the state is legal digital currency, bitcoin is illegal digital currency
A few days ago, some media reported that in the future, once the legal digital currency really runs, the application scenarios will penetrate into all aspects of social life, but its real launch will take time
At the same time, the issuance of legal digital currency will greatly increase the number of point-to-point transactions, bypassing the original regulatory system to a certain extent, which is easy to facilitate illegal transactions. As digital currency makes it very convenient to convert deposits into cash, financial panic and financial risk will accelerate the spread once they occur, which increases the difficulty of supervision In addition, in the process of using legal digital currency, a large number of user data and transaction information will be obtained. How to store and manage these data to prevent the disclosure and illegal use of user information is also an important challenge. No matter from the perspective of technology or security, it is difficult to have a great impact on monetary policy and payment mode in the short termArticle source: bit110 network
legal digital currency is the digital currency issued by the state and the central bank in China
this kind of digital currency can carry on the ordinary on-line mobile payment, also may carry on the sweep code payment, is similar to the Alipay and WeChat's using method, is very convenient.
this new type of legal digital currency is actually much more convenient than the existing means of mobile payment for three reasons:
first, legal digital currency does not need bank transfer and withdrawal
now we need to use Alipay and WeChat to bind the bank cards on Alipay and WeChat first, then transfer the money in the bank card to Alipay and WeChat, which is very troublesome. p>
but legal digital currency itself is stored in the bank card account, so there is no need to transfer in and withdraw the operation, you can directly withdraw the digital currency on the ATM, or you can directly use the app to pay, which is very convenient
in the story of defi, there have been eye-catching opportunities to make money before, and the hype of compound and its token comp has attracted much attention, but this is only a way to make money. This path revolves around the defi project launched by the central exchange. Because of the central exchange, this opportunity is naturally highly concerned by the market
there is another way to focus on the decentralized exchange (DEX) such as uniswap. Because the DEX platform has just emerged and its influence is limited, this path has received much less attention. Of course, just because the platform is still new and decentralized, the way to play is relatively "wild". For example, UMA, another hot defi project, was pulled out several times in minutes in uniswap
from the perspective of risk and return, the above two ways of taking advantage of opportunities, considering that the centralized exchanges, especially some big exchanges, have more or less the need to maintain their own goodwill, the projects on the platform have to pretend to play more or less, not too much, because the above defi projects will relatively leave us more time and space to react, The risk is relatively small. Therefore, in order to give priority to protecting the principal, we can give priority to allocating funds to these projects, and use these projects as the "positive battlefield" of participating in the defi opportunity. However, the online projects of the decentralized exchange fluctuate greatly and have some characteristics. But such volatility is also a good opportunity for arbitrage, so we can also consider allocating a small part of the funds
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compared with traditional bank transfer, remittance and other methods, digital currency transaction does not need to pay fees to the third party, and its transaction cost is lower, especially compared with cross-border payment which provides high handling charges to payment service providers
2. Fast transaction speed:
the blockchain technology used in digital currency has the characteristics of decentralization, and it does not need any centralized organization similar to the clearing center to process data, so the transaction processing speed is faster
3. High anonymity:
in addition to the physical form of currency can achieve point-to-point transactions without intermediary participation, one of the advantages of digital currency compared with other electronic payment methods is that it supports remote point-to-point payment. It does not need any trusted third party as an intermediary, and the two parties can complete transactions in completely unfamiliar situations without mutual trust, Therefore, it has higher anonymity, which can protect the privacy of traders, but also create convenience for network crime, which is easy to be used by money laundering and other criminal activities
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response time: April 16, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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