Digitalization of international currency

China's digital currency is as long as there is a mobile phone, no network, as long as the touch can be paid, and with detailed transaction records, it is very helpful to combat money laundering crime; This currency is mainly aimed at grabbing shares for Alipay, WeChat and POS terminals. It can also pave the way for RMB internationalization. Digital currency is not only safe and endorsed by the state, but the global central bank is pushing digital money. Now the digital currency is still in the testing stage. What time will it be popularized? It will have to wait until the Beijing Winter Olympic Games in February 2022 to fully promote the use

China's central bank's digital currency can be used for daily micro payments. Because it will be more stable with the endorsement of the state, the central bank's digital currency is different from bitcoin and Libra launched by Facebook. I give digital currency legal effect, and indivials can't refuse to accept it. At the same time, it is very convenient to use. It can be paid without binding any bank account. Digital currency will not cause inflation. Now it can be implemented and used in Shenzhen, xiong'an, Cheng, Suzhou and other cities. It also shows that the era of paperless is coming. Digital currency is a new concept with high technology content. In the future, RMB will enter the 3.0 era. Although the current digital currency is more powerful, it is still unable to put an end to money laundering and corruption

1. For commercial banks and other financial institutions, it is both an opportunity and a challenge. In the future, more innovations such as digital credit, digital assets and digital liabilities will be derived from digital currency, while the non sovereign "digital right currency" will graally cool down. In addition, the central bank can improve the efficiency of monetary operation monitoring and enrich monetary policy means after the issuance of digital currency

2. Issuing the legal digital currency of the central bank will make it possible to collect the data of money creation, bookkeeping and flow in real time. After data desensitization, it will conct in-depth analysis through big data and other technical means, so as to provide a useful reference for money supply, formulation and Implementation of monetary policy, and provide a useful means for economic regulation and control

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characteristics of digital currency

Central Bank digital currency is quite different from electronic payment in some functions. In the past, the fund transfer of electronic payment instruments must be completed through the traditional bank account, which adopts the way of "account tightly coupled"

and the central bank's digital currency is "account loose coupling", which can be separated from the traditional bank account to realize the value transfer and greatly rece the dependence of the transaction link on the account. The digital currency of the central bank can be as easy to circulate as cash, which is concive to the circulation and internationalization of RMB. At the same time, it can realize controllable anonymity

The digital currency issued by the central bank can indeed increase the process of RMB globalization to a certain extent, which is positive and powerful for the current global currency diversification. However, to replace the current U.S. dollar as the mainstream or the most hard currency in the world, even the digitized RMB needs a considerable part of the time cycle, which we need to maintain a very clear understanding

plus the Chinese dollar are only a matter of time. But this time period may start in five or ten years. The road is tortuous but the prospects are bright. br />

Digital RMB is the legal currency in digital form, which has the same effect as the paper currency issued by the people's Bank of China. As early as 2020, the people's Bank of China has carried out the pilot work of digital RMB in Beijing, Shenzhen, Suzhou, Cheng, Wuhan and other places to explore the way for the comprehensive development of digital RMB. The pilot work of digital RMB in these cities has achieved good results. At present, the pilot work of digital RMB has not been completed and is still in the stage of deepening exploration. Issuing digital RMB can effectively save China's wood resources, rece environmental pollution, and avoid heavy transportation security work. In addition, China is the second largest economy in the world, and plays an important role in international economy and trade. Therefore, digital RMB internationalization has unique advantages and internationalization attributes