How much does the central bank put in its digital currency walle

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. In order to make it more convenient for us to use money now, and in other words, to facilitate the circulation of money.

3.

As of 2019, the digital currency seminar of the people's Bank of China was held in Beijing to further clarify the strategic objectives of the central bank's issuance of digital currency, do a good job in tackling key technologies, study the multi scenario application of digital currency, and strive to launch the digital currency issued by the central bank as soon as possible. At present, it is under study, and many problems need to be improved slowly

digital currency is a double-edged sword. On the one hand, the blockchain technology it relies on has been decentralized and can be used in other fields except digital currency, which is one of the reasons why bitcoin is popular; On the other hand, if digital currency is widely used by the public as a kind of currency, it will have a huge impact on the effectiveness of monetary policy, financial infrastructure, financial market and financial stability

If digital currency is accepted by the public, its use will increase greatly and replace legal currency to a certain extent, then negative events such as network attacks on user terminals related to digital currency will cause currency fluctuation, which will have an impact on financial order and real economy

in addition, the virtual currency based on blockchain technology is usually held by a few people at the beginning. For example, the first purchase of bitcoin in May 2010 was $25 pizza purchased by 10000 BTC, and the price of each bitcoin rose to $1200 in more than three years by the end of 2013

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

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.

6. It's a tool for managing and using digital currency.

7.

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

8. It will be more and more difficult to mine by yourself. Jinhoe mining, mining machinery or its own assets, will arrive at the account immediately every day