Yi Gang on digital currency
1、 Different definitions:
1. virtual currency:
virtual currency refers to non real currency
digital currency:digital currency is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy
3. Cryptocurrency:
cryptocurrency is a kind of transaction medium that uses cryptography principles to ensure transaction security and control the creation of transaction units
4. Token (token):
a kind of article whose shape and size are similar to currency, but the scope of use is limited and has no currency effect, and its token is the homonym of token in English
Second, the characteristics are different:1; It can also be said that virtual currency is personalized currency. In another way, it can also be called information currency
2. Digital currency:
is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of specific virtual communities
Cryptocurrency:cryptocurrency is based on the decentralized consensus mechanism, which is opposite to the banking and financial system relying on the centralized regulatory system
4. Token (token):
usually needs to be exchanged for money, used in shops, playgrounds, mass transportation and other places, as a voucher to use services and exchange goods
extended data
at present, digital currency is more like an investment proct, because it lacks a strong guarantee agency to maintain its price stability, and its role as a value measure has not yet appeared, so it can not be used as a means of payment. As an investment proct, digital currency cannot develop without trading platform, operating company and investment company
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
first, to maintain the continuity of monetary policy, not to release water, not to shrink abruptly
Second, it will not change the fact that bitcoin is not legally recognized
thirdly, strengthen supervision, pay attention to safety and maintain stable and neutral development
Fourth, to serve the development of the real economy
considering the consistent policy of the Chinese government on digital currency, maintaining stability and continuity should be the current orientation and trend< In addition, although Yi Gang pointed out at the Boao Forum for Asia that he would take a strict attitude towards digital currency, it does not mean that he will stop studying digital currency. At present, the central bank is studying how digital currency can serve the real economy in a better form, develop safely in the best form and avoid possible negative effects, Let digital currency serve the economy better
in spite of stricter supervision, it is still believed that the central bank will adopt a combination of easing and blocking measures for the development of digital currency in the future.
Central Bank launched TCEP digital currency, just to replace banknotes and coins in circulation, and will not pose a threat to WeChat and Alipay. In short, WeChat and Alipay are "software tools", a convenient "settlement" and "channel" for transshipment and transmission, while digital money and previous traditional currencies are a form and carrier of capital and wealth. There is no conflict between the two
as to whether digital currency Libra will replace traditional currencies such as paper money and coins, it is a historical process. Just like the history of 's Yuan Datou and copper coin replaced by paper money and coins, it is a truth. However, no matter how evolution, digital currency Libra will not replace Alipay and WeChat payment. Just as the UnionPay can't complete the mobile payment function of WeChat and Alipay! p>
Electronic payment tools based on deposit currency of commercial banks, based on account tight coupling mode, still have great room for improvement in application scenario coverage, inclusive finance, payment efficiency, user privacy protection and anonymous payment
on the other hand, although the utilization rate of cash shows a downward trend, the absolute quantity will also maintain a certain growth, indicating that the digital supply of legal tender in retail has not kept up with the change of demand. Especially in areas where financial services are not fully covered, the public is still highly dependent on cash and has realistic demand and expectation for obtaining and using digital central bank money. In addition, the management cost of cash is high, and there is a risk that it will be used for money laundering and other criminal activities
in addition, encrypted assets and other centralized technologies used to process payment transactions will erode national currency sovereignty, and the pressure of cash digitization is actually increasing. In recent years, bitcoin, global stable currency and other encrypted assets try to play the monetary function, and start a new round of private currency, foreign currency and legal currency game. In response to this situation, it is necessary for the country to use new technologies to digitize M0 to provide a universal base currency for the development of digital economy
extended information:
there is no timetable for the launch of digital RMB
at present, the central bank is steadily promoting the research and development pilot work of digital RMB
Sun Guofeng, director of the Monetary Policy Department of the people's Bank of China, said at the regular policy briefing of the State Council on August 25 that at present, the research and development of digital RMB is following the principle of "steady, safe, controllable, innovative and practical", and concting internal closed pilot tests in Shenzhen, Suzhou, xiong'an, Cheng and the future Winter Olympic Games to test the theoretical reliability, system stability, system stability, and financial stability Function availability, process convenience, scenario applicability and risk controllability Sun Guofeng said that at present, the digital RMB is still in the internal closed pilot test stage. There is no timetable for the official launch of digital RMBthe mechanism of loose monetary policy is similar, and it also affects the economy by changing the money supply. Loose monetary policy is to increase the money supply, increase the supply and rece the cost of using money, which will promote investment and consumption and promote the economy.