Responsible for RMB digital currency

1.

1、 What is digital currency RMB

with the development of Internet technology, especially blockchain technology, many so-called & lt; virtual currency;, Such as bitcoin and Wright currency, which are controversial in recent years

as a substitute for M0 (cash in circulation, i.e. cash in circulation outside the banking system), the difference between the central bank's digital currency and the virtual currency such as bitcoin is that bitcoin is decentralized, while the digital currency to be launched by the central bank is centralized

the central bank's digital currency is a legal digital currency issued by the central bank based on national credit, which is exactly the same as RMB cash and is equivalent to cash{ RRRRR}

it can be predicted that the era of digital RMB is coming. For commercial banks and other financial institutions, digital currency will lead to more innovations such as digital credit, digital assets and digital liabilities. In addition, the central bank can improve the efficiency of monetary operation monitoring and enrich monetary policy means after the issuance of digital currency

In addition, the issue of central bank's legal digital currency will make it possible to collect real-time data such as money creation, bookkeeping and flow. 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

In the short term, the introction of digital currency has little impact on the exchange rate; Digital RMB & quot; At present, it seems that the aim is to partially digitize the currency in circulation (so there will be zero interest rate compensation, 100% reserve requirement and limited weakening of financial intermediaries, also known as & lt; Disintermediation, Considering China's current capital account restrictions (especially the restrictions on capital outflow), the introction of digital currency is unlikely to have a great impact on the trend of RMB exchange rate in the short term

the development of Sino US relations, portfolio capital flow, yield advantage and valuation are still the driving factors for RMB. Due to the outbreak of the second wave of the epidemic, there was an outflow of funds from the United States. This should also boost market confidence in the RMB in the short term

2、“ Digital RMB & quot; It is a milestone of RMB internationalization; Digital RMB & quot; The design of settlement technology is very complex and becomes ubiquitous (by making full use of the increasing popularity of mobile phones and Internet applications in China and the inclusion of RMB in the IMF's special drawing rights basket), which may promote the internationalization of RMB and the diversification of the current US dollar centered International Monetary System in the long run

conclusion: when the central bank issues digital currency, it focuses more on domestic factors. On the one hand, it is the trend of the times; on the other hand, it has many advantages. And the internationalization of RMB, more often, is a matter of course. The introction of digital currency by the people's Bank of China is a major change in the monetary system, both domestically and internationally

2. If you deposit and withdraw money in the bank, it is still real currency and will not give you digital currency
because the digital currency to be launched by the people's Bank of China operates at the same time as the real currency and is exchanged at the same price, but the deposit of digital currency has no interest. The digital currency of the central bank is exchanged to users through financial institutions. After users exchange the digital currency, they have nothing to do with financial institutions.

3. Based on blockchain and smart contract technology, euz is a stable currency issued by means of valuable asset mortgage to solve international financial problems. Compared with other encrypted digital currencies, euz stable currency has the following advantages:
1. Euz stable currency exists on its own blockchain, not untested "Shanzhai currency", nor in closed source software running on centralized private database
2. Euz can be used like bitcoin and Ethereum, that is, in an anonymous, decentralized and password secure environment
3. Euz can be integrated with businesses, exchanges and wallets
4. Euz stable currency inherits the attributes of euz layer protocol, including: distributed exchange, browser based open source, wallet encryption, blockchain based transparency, accountability, multi-party security and reporting function
5. Euz limited adopts a simple but effective method to prove reserves, which greatly reces the risk of the reserve asset custodian's counterparties
6. Issuance or Redemption: euz will not face any pricing or liquidity restrictions, and users can quickly purchase or sell the required euz at a very low cost
7. Euz stable currency will not face market risk, because it has equal value mortgage protection rather than relying on market forces

warm tips:
1. The above explanations are for reference only, without any suggestions
2. It is risky to enter the market and investment should be cautious

response time: September 14, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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