When will digital currency be used nationwide
the DCEP issued by the central bank is a digital currency, which is very similar to Alipay and WeChat payment. But it is different from Alipay and WeChat, because it is more like paper money, and the third party can not get the information from both sides of the transaction. It is anonymous and centralization, and the endorsement of the state can be assured.
what is the use of central bank digital currency
from the perspective of the central bank, if the central bank wants to put in funds, it doesn't need these scientific and technological means to trigger conditions, and it could have done it
for users, they have one more option when paying. Users only need to download the central bank's digital currency wallet app, and then associate with their existing bank accounts to exchange the previous banknotes into the corresponding digital currency
for the current mobile payment, users are still accustomed to using Alipay and WeChat to pay. But how to say? Personally, Alipay was originally a professional payment software, but after all these years of development, the Alipay interface is extremely complex, and the user experience is not very friendly.
as for wechat payment, wechat started from social networking at first, and has evolved from professional social software to comprehensive software in recent years. To put it plainly, whether it is Alipay or WeChat, it seems that it has deviated from its original intention. This may bring opportunities to the central bank's digital currency
when will central bank digital currency become popular
according to the bank, considering that the early digital RMB is only limited to the pilot, it will not be issued in large quantities and promoted comprehensively in the short term, and the speed of currency circulation will also maintain a normal level
many people say that digital money has no effect on Alipay. I beg to differ. As Ma Yun said, sometimes it's just a document that beats you. What is the impact of the central bank's digital currency on Alipay? Let's wait and see.
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
in addition, Zhou Xiaochuan also mentioned that there is a lot of discussion about "51% attack" (assuming that indivials have 51% of the computing speed of the whole network, they can realize double payment, reverse transactions, paralyze the whole network, and completely lose the transfer function). More specifically, compared with the special currency, bitcoin does not need the central bank. Zhou Xiaochuan mentioned that for the digital currency controlled by the central bank, a series of technical means, mechanism design and laws and regulations will be adopted to ensure the security of the digital currency operation system, which is different from the design idea of bitcoin from the beginning
as for the digital currency timetable, Zhou Xiaochuan said that there is no established timetable. The relationship between digital currency and cash will be parallel and graally replaced for quite a long time. For reference.
China's digital currency pilot project has begun to be in a leading position in the world. This achievement shows that China's digital currency is beginning to develop continuously, and the scale is also expanding. More and more instries begin to feel the convenience it brings us through digital currency. I believe that as long as we maintain this trend well, in the next ten years, China's digital currency will be fully popularized in China, reaching a more advanced, safer and more comprehensive level{ RRRRR}
at present, China's digital currency is becoming more and more convenient and safe because of the participation of each of us. What we use digital currency brings us is the security of our property. Everyone of us should believe that in the next few years, our digital currency will be popularized and developed in an all-round way
Fourth, in terms of financial services, it mainly refers to various intermediary businesses such as collection and payment, consulting and so on. For example, the collection of water, electricity and coal is small and the number of users is huge. These companies will still entrust the bank to collect, and they still need to open an account in the bank, so the impact of digital currency issuance on financial services is small. Fifthly, the function of credit creation mainly refers to that the loan is re deposited in the bank, waiting for investment or use, resulting in derivative deposits and currency multiplier effect, which has nothing to do with the issue of digital currency
the issuance of digital currency will not rece the number of bank outlets, because the basic function of the bank is far from the payment intermediary function, as well as macroeconomic regulation, the development of deposit and loan business, as well as financial services, intermediary business, and so on. What's more, many people still insist on using cash to pay and transfer. Therefore, the issue of digital currency can not eliminate the outlets of banks. The real impact on bank outlets is the rise of Internet finance. Banking business moves from offline to online. People generally accept using mobile banking app to deal with business, and then the physical outlets of banks will be canceled
Digital currency has been issued in some cities in China, but it will take some years for it to be popularized{ RRRRR}
3. It takes a while for digital currency to be popularized in an all-round waydigital currency is to turn paper money into a number that people can see on the Internet, which is more convenient for people to operate as long as we use the mobile phone in our daily life, we can complete a series of commodity transactions without using the Internet. At that time, it will be the real realization of a mobile phone that can travel all over the world
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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the DCEP issued by the central bank is a digital currency, which is very similar to Alipay and WeChat payment. But it is different from Alipay and WeChat, because it is more like paper money, and the third party can not get the information from both sides of the transaction. It is anonymous and centralization, and the endorsement of the state can be assured.
what is the use of central bank digital currency
from the perspective of the central bank, if the central bank wants to put in funds, it doesn't need these scientific and technological means to trigger conditions at all, it could have done it
for users, they have one more option when paying. Users only need to download the central bank's digital currency wallet app, and then associate with their existing bank accounts to exchange the previous banknotes into the corresponding digital currency
for the current mobile payment, users are still accustomed to using Alipay and WeChat to pay. But how to say? Personally, Alipay was originally a professional payment software, but after all these years of development, the Alipay interface is extremely complex, and the user experience is not very friendly.
as for wechat payment, wechat started from social networking at first, and has evolved from professional social software to comprehensive software in recent years. To put it plainly, whether it is Alipay or WeChat, it seems that it has deviated from its original intention. This may bring opportunities to the central bank's digital currency
when will central bank digital currency become popular
according to the bank, considering that the early digital RMB is only limited to the pilot, it will not be issued in large quantities and promoted comprehensively in the short term, and the speed of currency circulation will also maintain a normal level
many people say that digital money has no effect on Alipay. I beg to differ. As Ma Yun said, sometimes it's just a document that beats you. What is the impact of the central bank's digital currency on Alipay? Let's wait and see.