How to define the amount of digital currency issued by the state

1.

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 informationized

such 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

2.

The people's Bank of China has not issued digital currency for the time being, so there is no legal digital currency in China at present. At present, digital currency has not been recognized in China, let alone legal

at present, all kinds of digital currencies circulating in the market are basically on the edge of the law. China maintains a neutral attitude, but does not like speculation, which is also the basic attitude of the central bank{ RRRRR}

< H2 > development materials

digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English and the alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy

digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currency, such as bitcoin, lightcoin and ppcoin, is an electronic currency created, issued and circulated by check sum cryptography. It is characterized by the use of P2P peer-to-peer network technology to issue, manage and circulate currency. In theory, it avoids bureaucratic examination and approval, so that everyone has the right to issue currency

3. It shows that the total amount of this kind of digital currency is relatively large, and the total amount of many digital currencies is as high as 10 billion. The circulation of some MLM coins is not constant and can be increased or split at will. Moreover, there are many different digital currencies in the world, and the number of each digital currency is very considerable
the well-known digital currencies in the currency circle include bitcoin, Ruitai coin, Laite coin, doggy coin, etc.

4. The total amount of money in DCEP is not constant

why

let's take a look at the current definition of DCEP

Digital legal tender

in addition to being different from legal paper money in carrier, it has the same function as paper money: value scale, circulation means, payment means and value storage

this is also the function of paper money

the issuance of DCEP is based on 100% reserve and will circulate with cash currency, that is, M0 issuance

although the central bank's digital currency was slowly launched after the rise of blockchain technology, it is not pure blockchain technology, but only uses some technologies related to blockchain

we all know that the commercial application of block chain technology still faces many problems, such as concurrency, data storage and so on

a country with a large population like ours, if we use blockchain technology in a strict sense, it will not be able to carry it at present<

Wanxiang blockchain analysis:

from the information disclosed by the people's Bank of China, DC / EP does not use the real blockchain like Libra

although digital currency is not a token in the blockchain, it is similar to the token in the blockchain in the key features of non double flower, anonymity, unforgeability, security, transitivity, separability and programmability

therefore, DC / EP still belongs to token paradigm rather than account paradigm

the central bank is responsible for the maintenance of the DC / EP issuance registration subsystem, which is centralized and does not need to run consensus algorithm, so it will not be subject to the performance bottleneck of the blockchain

in DC / EP, blockchain is used to confirm the right registration of digital currency and plays an auxiliary role

each country's base currency issuance is increasing every year

therefore, the central bank's digital currency improves the bearing property of money. Paper money is naturally suitable for the atomic world, and digital currency is more suitable for the consumption scenarios in the bit world

the supply is definitely the same as that of the previous monetary system, increasing every year.

5.

According to Article 224 of the criminal law of the people's Republic of China, whoever lures or coerces participants to continue to develop pyramid selling activities involving others, swindles property or disturbs economic and social order shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined

If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined. Generally speaking, ordinary people who participate in pyramid selling are not dealt with as illegal business operation crime. This crime only deals with leading elements and main members

in the name of marketing goods and providing services, the organization and leaders require the participants to obtain the qualification by paying fees or purchasing goods and services, and form a hierarchy according to a certain order, and directly or indirectly use the number of development personnel as the basis for remuneration or rebate

According to the Seventh Amendment to the criminal law, it should be dealt with as the crime of illegal business operation: those who organize or lead pyramid schemes, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, and shall also be fined

the following personnel can be identified as the organizers and leaders of MLM activities:

(1) personnel who play the role of initiation, planning and manipulation in MLM activities

(2) personnel who are responsible for management and coordination in MLM activities

(3) the personnel who are responsible for propaganda and training in MLM activities

(4) those who have received criminal punishment for organizing or leading pyramid selling activities, or administrative punishment for organizing or leading pyramid selling activities within one year, and who have directly or indirectly developed pyramid selling activities with more than 15 participants and at least three levels

(5) other personnel who play a key role in the implementation of MLM activities, the establishment and expansion of MLM organizations

if the crime of organizing and leading pyramid selling activities is committed in the name of the unit, the personnel appointed by the unit who are only engaged in labor work will not be investigated for criminal responsibility

6.

It's illegal

the central bank indicated that it 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

In addition, 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

extended information:

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

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