Mexico digital currency
Canadian dollar
Euro
British pound
US dollar
Japanese yen
Australian dollar
New Zealand dollar
Swiss Franc
Hong Kong dollar
Singapore dollar
Swedish Krona
Danish Krona
Polish zloty
Norwegian Krona
Hungarian Forint
Czech Krona
New Israeli krona Shekel
Mexican Peso
Brazilian real (for Brazilian users only)
Malaysian ringgit (for Malaysian users only)
Philippine Peso
New Taiwan dollar
Thai baht
Turkish lira (for Turkish users only)
"I never thought that I would be able to use Alipay version of Alipay (PAYtm) back home. It's so exciting!" Chopra, a young boy who once studied in China and knows Alipay and WeChat, is satisfied with the current convenient consumption. Mobile phone payment makes him feel that life in Delhi is not much different from that in Shanghai. p>
the Indian government proposed the concept of "digital India" a few years ago, calling on people to use cashless payment in daily transactions. Subsequently, the order of banknote abolition accelerated the process of cashless payment to a certain extent
seeing the rise of China, they are all anxious to catch up< br />
People often talk about these initiatives in the context of digital money supply. In fact, more than 90% of the money in circulation has become digital money. In most instrial countries, only about 10% of the money is in the form of physical cash. The central bank is making a huge investment to further accelerate and simplify the digital payment process. In the US, the Federal Reserve will soon unveil a new solution, fednow. It can support nationwide real-time electronic payment. In addition to the United States, Britain, Australia, Mexico and Nigeria have also built and deployed similar infrastructure
digital currency system that can connect with all banks and retail businesses across the country can greatly rece the cost of economic circulation and payment. For the central bank, programmability is the biggest source of value and risk, so its introction may be very slow. Central banks can choose to deploy money first and then add its programmability. Or you can choose to create a regulatory framework that allows banks and other organizations to issue tokens on the public chain. Of course, the two experiments can be carried out at the same time, but it will take several years to get a comprehensive evaluation
the Xueshuo innovation blockchain Technology Workstation of Lianqiao ecation online is the only approved "blockchain Technology Specialty" pilot workstation of "smart learning workshop 2020 Xueshuo innovation workstation" launched by the school planning, construction and development center of the Ministry of ecation of China. The professional station provides diversified growth paths for students
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 besides 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, financial stability and so on. Specific Wu Xiaoxia:
1. Impact on monetary policy
if digital currency is widely accepted and can play the role of currency, it will weaken the effectiveness of monetary policy and bring difficulties to policy-making
because digital currency issuers are usually unregulated third parties, money is created outside the banking system, and the amount of circulation depends entirely on the wishes of the issuers, which will lead to the instability of money supply. In addition, the authorities are unable to monitor the issuance and circulation of digital currency, which will lead to the inability to accurately judge the economic operation and bring trouble to policy-making, At the same time, it will weaken the effectiveness of policy transmission and implementation
2. Impact on financial infrastructure. The use of distributed ledgers also poses challenges to trading, clearing and settlement, as it promotes the disintermediation of traditional service providers in different markets and infrastructures. These changes may have potential impacts on market infrastructure other than retail payment systems, such as large payment systems, securities settlement systems or trading databases
3. The impact on financial intermediation and financial market in a broad sense. As a financial intermediary, banks perform the ties of acting supervisors and supervise borrowers on behalf of depositors
generally, banks also carry out liquidity and maturity conversion business to realize the financing from depositors to borrowers. If digital currency and distributed ledger are widely used, any subsequent disintermediation may have an impact on savings or credit evaluation mechanisms
4. The impact of security risks and financial stability
assuming that digital currency is recognized by the public, its use increases significantly and replaces legal currency to a certain extent, negative events such as network attacks on user terminals related to digital currency will lead to currency fluctuations, which will have an impact on the financial order and the real economy
in addition, the virtual currency based on blockchain technology is usually held by a few people at the beginning. For example, the first purchase of bitcoin in May 2010 was $25 pizza purchased by 10000 BTC, and the price of each bitcoin rose to $1200 in more than three years by the end of 2013
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Amazon will launch digital currency project in Mexico. Amazon is recruiting software development managers for digital and emerging payments (DEP) to develop new payment procts that will enable customers to convert cash into digital currency
the digital and emerging payments sector intends to launch the proct in Mexico first. The follow-up will be extended to Brazil and India. It is reported that the digital currency project will completely focus on payment services in emerging markets