Suzhou digital currency
Suzhou will launch the red envelope test of digital RMB, which is expected to appear in the future. However, it is very difficult to really occupy the market, or even replace the mobile payment, because although digital RMB is different from traditional mobile payment, it is still realized with the help of electronic carriers such as mobile phones{ RRRRR}
fully comply with the law of the market, that is to see which way can better meet the needs of consumers, because the market is like this, which is more convenient for customers and more attractive for customers, he chooses which one. As for the emergence of mobile payment for so many years, we are used to it, also did not find any big problems, nothing more than to make more adjustments in the flow of consumption funds, and there is still a long way to go for digital RMB
on April 17, 2020, the digital currency Research Institute of the people's Bank of China (hereinafter referred to as "digital currency Research Institute") responded to the progress of network transmission test that at present, the research and development of digital RMB is steadily advancing. Under the premise of adhering to the double-layer operation, M0 substitution and controllable anonymity, the digital RMB system has basically completed the top-level design, standard formulation, function research and development According to the principles of stability, safety, controllability, innovation and practicality, the internal closed pilot test is carried out in Shenzhen, Suzhou, xiong'an, Cheng and the future Winter Olympics scenes at the current stage, so as to continuously optimize and improve the functions
combined with the above information, and considering that the screenshot of ABC's internal test version of DC / EP wallet has been circulated on the Internet, with Suzhou taking the lead in using DC / EP, the news about testing DC / EP in other regions will graally increase in the future. This paper will sort out the recent information about DC / EP pilot, analyze the main problems of DC / EP, and analyze the potential impact of DC / EP on China's financial system
first, why DC / EP was first piloted in Suzhou
according to the information disclosed through public channels, the pilot areas of DC / EP include Shenzhen, Suzhou, xiong'an and Cheng, but at present, Xiangcheng District of Suzhou is the first pilot DC / EP scenario. Why? All along, the research and development of DC / EP is mainly in the charge of digital currency Research Institute, which is a public institution established by the people's Bank of China and was established on January 29, 2017. However, it is worth noting that in addition to the technology research and development and patent application of DC / EP, the digital currency Research Institute has also carried out the following investment activities:
on June 15, 2018, the digital currency Research Institute established Shenzhen Financial Technology Co., Ltd. (hereinafter referred to as "Shenzhen Jinke") in the form of 100% shareholding in Shenzhen, The business scope is "
the general business items are: financial technology related technology development, technology consulting, technology transfer and technology services; Financial technology related system construction and operation maintenance. The licensed business items are:
"
on March 1, 2019, Shenzhen Jinke and Suzhou High Speed Rail New Town innovation and Venture Capital Co., Ltd. (hereinafter referred to as "Suzhou High Speed Rail New Town") jointly funded the establishment of the Yangtze River Delta Financial Technology Co., Ltd., which is registered in Xiangcheng District, Suzhou City, and its business scope is "
software development; Engaged in financial technology related technology development, technical consultation, technology transfer, technical services, financial technology related system construction and operation maintenance The projects that need to be approved according to law can be operated only after being approved by relevant departments. Among them, Shenzhen Jinke holds 55% of the shares and Suzhou high speed railway new town holds 45%. As a wholly state-owned enterprise, Suzhou high speed railway new town is ultimately fully owned by Suzhou High Speed Railway New Town Management Committee
according to the number of administrative personnel in Xiangcheng District of Suzhou estimated by open channels and the general standards of government agencies on transportation subsidies, the amount of DC / EP to be issued in May may may be about 200000 yuan to 300000 yuan, which is relatively limited. Considering the lack of information about Suzhou DC / EP pilot, the amount of DC / EP is only for reference. In addition, how to use the transport subsidies in the form of DC / EP is also a potential problem. In which scenarios can the Xiangcheng District personnel who obtain DC / EP use them? Do these scenarios have the b-end interface of DC / EP? All these need to be further observed
based on the above facts, it is not difficult to draw a conclusion that the digital currency Research Institute has already established contact with local state-owned enterprises in Suzhou by setting up subsidiaries, and the registered place of the subsidiary is Xiangcheng District, Suzhou city. Meanwhile, considering that the other shareholder is a local state-owned enterprise with traffic instry background in Suzhou, It is not surprising that DC / EP was first tested in Xiangcheng District of Suzhou, and the scenario test was concted by means of traffic subsidy. According to these ideas, the digital currency Research Institute has set up a wholly-owned subsidiary in Shenzhen, Shenzhen Jinke. It can be speculated that Shenzhen is very likely to be an important area for the next scenario test of DC / EP< Second, the characteristics of DC / EP and the recent pilot information survey
according to the public introction of the relevant responsible persons of the central bank on many occasions, DC / EP has the following characteristics: (1) the essence is still RMB, which belongs to the liabilities of the central bank and has unlimited legal compensation, which is another manifestation of RMB 2) The goal is to replace part of M0 (
i.e. cash in circulation, i.e. notes and coins, excluding deposits (such as enterprise deposits and savings deposits of urban and rural residents), financial bonds, commercial bills, large amount transferable certificates of deposit and other assets and liabilities that can be recorded in the accounts of financial institutions
) 3) No interest is charged 4) The two-tier operation structure is adopted, and the operating institution (bank or payment institution) is required to pay 100% reserve to exchange DC / EP 5) Technology neutral, but need to meet the "account loose coupling" (
rece the dependence of transactions on the account to achieve controllable anonymity,
), "high concurrent demand" and "offline transfer"
1. bitcoin
the concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
2. Litecoin (LTC) is an improved version of digital currency inspired by bitcoin. It was designed and implemented by a programmer who worked in Google. It was released on November 9, 2011. Lightcoin and bitcoin have the same implementation principle in technology, but the creation and transfer of lightcoin is based on an open source encryption protocol, which is not managed by any central organization
extended data
characteristics of bitcoin currency:
1. Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom
2. Global circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin
3. Exclusive ownership: private key is needed to control bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself
4. Low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution
in its Research Report on CBDC, the Bank of England defines central bank digital currency as an electronic form of central bank currency, which can be used by households and businesses to make payments and store value
the Chinese version of CBDC is described as a controllable anonymous payment tool, which is issued by the people's Bank of China, operated by designated operating institutions and exchanged to the public, 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"
response time: October 26, 2020. Please refer to the official website of Ping An Bank for the latest business changes
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