Can digital currency be realized in China

1.

It's illegal

the central bank indicated that it has not issued legal digital currency, nor authorized any institutions and enterprises to issue legal digital currency, and there is no promotion team. At present, the so-called "digital currency" in the market is not legal digital currency

In addition, the so-called "digital currency" launched by some institutions and enterprises and the so-called promotion of the central bank's issuance of digital currency may involve pyramid selling and fraud

extended information:

virtual currency is the electronization of illegal currency, and its original issuer is not the central bank. This kind of virtual currency is mainly limited to circulation in a specific virtual environment. Digital currency can be used for real goods and services transactions, but only the digital currency issued by the state is legal digital currency

in 2013, the central bank, together with five ministries and commissions, issued the notice on prevention of bitcoin risks, which clearly defined non legal digital currencies such as bitcoin as virtual commodities, which do not exist in the form of currency and legal currency

2.

As of May 2020, blockchain and digital currency are illegal in China

according to the announcement of the people's Bank of China Central Network Information Office, Ministry of instry and information technology, State Administration for Instry and commerce, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on preventing the risks of token issuance and financing, Article 2 no organization or indivial shall illegally engage in token issuance and financing activities. Organizations and indivials that have completed the token issuance and financing should make arrangements such as refund, reasonably protect the rights and interests of investors, and properly handle risks. Relevant departments will seriously investigate and deal with the activities of token issuance and financing that refuse to stop and the illegal behaviors in completed token issuance and financing projects

Article 3 strengthen the management of token financing trading platform

from the date of this announcement, any so-called token financing trading platform shall not engage in the exchange business between legal currency and token and "virtual currency", and shall not buy or sell token or "virtual currency" as a central counter party, and shall not provide pricing for token or "virtual currency" Information intermediary and other services

extension data

"illegal financial institutions and illegal financial business activities ban" stipulates that:

eleventh, the criminal suspect, funds and property involved in illegal financial institutions and illegal financial activities, and the public security organs shall take compulsory measures according to law to prevent suspect from escaping and transferring funds and property. p>

Article 12 the people's Bank of China shall, after investigation and confirmation, make a decision to ban the illegal financial institutions and financial business activities, declare them illegal, order them to stop all business activities, and make an announcement

Article 13 if the people's Bank of China discovers that a financial institution opens an account, handles settlement and provides loans for an illegal financial institution or illegal financial business activities, it shall order the financial institution to stop the relevant business activities immediately. No unit or indivial may use the relevant funds without authorization

3. At present, central banks and financial institutions all over the world are concting research on currency digitization and related technologies. At the "fintech summit in Shenzhen, China" hosted by Shenzhen Municipal Government on December 20, more than 40 units, including Ping An Group, Weizhong bank and Dacheng Fund, announced that they would jointly initiate the preparation for the establishment of China's Shenzhen fintech digital currency alliance, and cooperate with the central bank and other financial regulatory departments to study and formulate digital currency instry standards and relevant institutional mechanisms<

with the development of Internet technology and the profound changes of global payment methods, digital currency with higher operation efficiency and stronger economic adaptability is becoming a new trend of currency development in the future
in this trend, central banks and financial institutions around the world are concting research on currency digitization and related technologies. At the "fintech summit in Shenzhen, China" hosted by Shenzhen Municipal Government on December 20, more than 40 units, including Ping An Group, Weizhong bank and Dacheng Fund, announced that they would jointly initiate the preparation for the establishment of China's Shenzhen fintech digital currency alliance, and cooperate with the central bank and other financial regulatory departments to study and formulate digital currency instry standards and relevant institutional mechanisms
currency digitization is the general trend
in a global science and technology innovation survey released by KPMG, digital currency, 3D printing, Internet of things and biotechnology are listed as the most promising technologies in the next three years. At present, many countries in the world are promoting the research of currency digitization
at the beginning of this year, the Bank of England announced a new research report that the combination of digital currency and mobile technology may completely change the shopping habits of British people, and the Bank of England is considering using this technology to release official digital currency. Sweden's central bank is considering issuing its own digital currency, ekrona, in response to a sharp decline in the country's cash use

in 2014, the Central Bank of China set up a special research group to demonstrate the feasibility of issuing legal digital currency. At the beginning of this year, the central bank held a seminar on digital currency to further clarify the strategic objectives of the central bank in issuing digital currency. In November, the 2017 annual personnel recruitment plan of the printing Science Research Institute, a unit directly under the central bank's official website, showed that six professionals with master's or doctor's degrees would be recruited for digital currency research and development< In an interview with the media a few days ago, Yao / > deputy director of the science and Technology Department of the central bank and head of the preparatory group of the digital currency Research Institute, said that the prototype scheme for the central bank to issue legal digital currency has completed two rounds of revision, and is expected to be tested in relatively closed application scenarios such as the bill market in the future, but there is no clear timetable for the launch of legal digital currency in China<
Third Party Payment institutions may disappear
at the first "China Shenzhen fintech (Financial Technology) summit" held on December 20, the reporter of daily economic news learned that, under the guidance of Shenzhen municipal government, Ping An Group, China Merchants Bank, Weizhong bank More than 40 units, including Dacheng Fund, will jointly initiate the preparation for the establishment of China's Shenzhen fintech digital currency union and fintech Research Institute
according to Yao Yudong, chief economist of Dacheng Fund, the alliance will cooperate with the central bank and other financial regulatory departments to study and formulate the digital currency instry standards and mechanisms. The Research Institute will comprehensively carry out the research on fintech infrastructure and innovative business, and explore and promote the application of big data, cloud computing, artificial intelligence blockchain and other technologies
as one of the sponsors of the alliance, Li Lin, founder and chairman of fire coin, pointed out that when it comes to digital currency, it should be made clear that there is an essential difference between the digitization of legal currency and digital currency. The essence of encrypted digital currency represented by bitcoin is a standardized digital asset. However, because the digitization of legal currency may choose to use the underlying technology of encrypted digital currency blockchain as one of the core implementation technologies, there is a close relationship between the two
Li Lin said that blockchain has outstanding technical advantages in security attributes such as non repeatable transaction, non forgery and non tampering. Digital currency represented by bitcoin has the characteristics of disintermediation, openness, transparency and traceability, which will have a profound impact on the future circulation of sovereign digital currency
"in the global cryptocurrency operation and circulation system, there is a unified and open protocol, and different institutions follow the standard protocol, which provides the basis for the cross platform circulation of currency accounts. There is no need for third-party payment companies to provide services to connect with different banks. " Li Lin gave an example. In his view, in the future, if the sovereign digital currency uses the unified and open blockchain agreement or other agreements, and only provides technical services of cross bank agreement, the third-party payment company will disappear
at the same time, Li Lin pointed out that the structural system of encrypted digital currency under the decentralized structure has brought great problems to government supervision, so there will be some changes in the sovereign digital currency system. For example, anonymity is controllable anonymity, unlike complete anonymity in the bitcoin network.

4. No. So far, the Chinese government does not recognize the legitimacy of any digital currency. Therefore, the application of digital currency in China is also illegal.

5. We don't have this yet

6. I'd like to introce the differences between Xbox series and Xbox one X, The reason why I want to give you an introction to the differences between Xbox series s and Xbox one X is that many people don't know much about the differences between Xbox series s and Xbox one X, So interested in small partners can take a look at the following introction oh
1. The Xbox series s has a white shape, with a black round mesh grid on the wide side, which is expected to prepare for heat dissipation, and a large number of honeycomb openings on the top. Some netizens say it's like a desktop speaker, some say it's like a radio. On the narrow side, you can see USB type-A interface, Xbox logo, etc., but you can't see the CD-ROM bit
2. The graphics performance of Xbox series s is about 4-6tflops, up to half of that of Xbox series X, 7.5GB available memory, nvme SSD, and the game experience is no less than that of Xbox one X
3. Xbox series s will not be equipped with an optical drive. The GPU of this console is about 4 teraflops, which is lower than the 6 teraflops of Xbox one X. However, the report also mentioned that Xbox series s adopts AMD's next-generation Navi architecture, so it also surpasses the current hardware
4. In terms of price, the price of Xbox series s will be $299, which is much lower than the price of Xbox one X
it is rumored that Xbox series X / s will be sold worldwide on November 10. In addition to the original price, you can also participate in Xbox all access and pay monthly
the above is all about the differences between Xbox series and Xbox one X. I hope the above can help my friends.

7. The administrative level of Hubei CDC has not been improved, which is a voluntary activity

8. From the price rise of bitcoin, we can see that in recent years, China has stepped up efforts to crack down on corruption, various measures of bank supervision have been strengthened, and underground banks have also been subject to strict supervision and control. Many illegal capital outflow channels in China are seriously blocked, making money laundering more difficult. The trend of bitcoin provides a simple way to transfer assets. In fact, it's time for the state to supervise the shearing of China's social wealth by foreign countries, coupled with numerous crazy scams, which lead to numerous Chinese people being deceived. In the long run, without the credit of the country, any speculation is illusory. Now bitcoin has only speculative value.

9. It is possible in theory, but it is very difficult in practice
some time ago, the central bank also claimed to launch digital currency, but the digital currency to be launched by the central bank is just the digitization of paper money. The design concept of the digital currency to be launched by the central bank is completely different from that of bitcoin. The central bank emphasizes control rather than laissez faire. And it will take at least ten years for this digital currency to be launched
other digital currencies can only be circulated in a small range in China, which is unlikely to have a great impact. For example, Ruitai coin is only a kind of asset certificate, Qianjin card can only be used in Qianfeng mall, and bitcoin is only used in a small range.

10.

It's illegal

the central bank indicated that it has not issued legal digital currency, nor authorized any institutions and enterprises to issue legal digital currency, and there is no promotion team. At present, the so-called "digital currency" in the market is not legal digital currency

In addition, the so-called "digital currency" launched by some institutions and enterprises and the so-called promotion of the central bank's issuance of digital currency may involve pyramid selling and fraud

extended information:

virtual currency is the electronization of illegal currency, and its original issuer is not the central bank. This kind of virtual currency is mainly limited to circulation in a specific virtual environment. Digital currency can be used for real goods and services transactions, but only the digital currency issued by the state is legal digital currency

in 2013, the central bank, together with five ministries and commissions, issued the notice on prevention of bitcoin risks, which clearly defined non legal digital currencies such as bitcoin as virtual commodities, which do not exist in the form of currency and legal currency