Why does the Central Bank of our country issue digital currency

1.

digital currency can be understood as the digitalization of RMB, which has two obvious advantages: "no account payment" and "no network payment". After Facebook launched Libra this year, the central bank's digital currency has also stepped in. We see both challenges and opportunities

in a word, digital currency is still RMB in fact, but some changes have taken place in its form. We say that digital currency is of great significance. It not only enhances the security and controllability, but also makes counterfeit currency "invisible". In addition, the issuance of the central bank's digital currency is also concive to the central bank's more convenient and transparent management

2. It is an inevitable trend for the central bank to prepare to issue digital currency. bitcoin, as the representative of digital currency, is in the forefront of the exploration of currency form. Most countries in the world love and hate bitcoin, especially China's bitcoin launched a series of attacks, but bitcoin is still standing, showing strong vitality
however, the digital currency that the central bank plans to issue has the monetary attribute and has the credit endorsement of the central bank. The central bank's version of digital money will first be applied to the bill market. It is still difficult for the central bank to popularize the digital currency in China, because the degree of economic development is different across the country
at the same time, there are some applied digital currencies in China. For example, the Puyin digital currency launched by Puyin group is a standard digital currency with credit endorsement of related tea assets.

3.

The mining right setting plan is a detailed arrangement of the spatial layout of exploration right and mining right in a certain area on the basis of mineral resources planning, which is an important basis for the establishment and adjustment of exploration right and mining right, Based on mineral resources planning, we should make full use of mineral resources potential evaluation, reserve utilization investigation, on-site verification results of mining rights and existing geological and mineral information, adhere to the principle of integrated exploration and intensive development, and optimize the layout of mineral resources exploration and exploitation, For low-risk exploration areas, the mining right setting plan should be worked out according to the resource occurrence and geological structure conditions; If the resource situation is unclear, the State shall pay for the preliminary investigation and necessary general survey. Among them, the coal mining right setting scheme shall be prepared according to the requirements of existing documents. For non risk minerals, the State shall pay for the necessary geological work and directly prepare the mining right setting scheme, On the basis of the opinions of mining right owners and stakeholders, experts should be organized to conct full argumentation, divide exploration right and mining right blocks, and reasonably determine the number and scale of mining right. All areas that may involve the implementation of total mining amount control of ore-forming geological conditions should be organized to conct special argumentation, and the argumentation results should be explained in the mining right setting plan, (4) the mining right setting plans of national planned mining areas, mining areas of great value to the national economy, and integrated exploration areas shall be prepared by the units with corresponding qualifications entrusted by the provincial land and resources department, (5) if the established mining right does not conform to the mining right setting plan, it should be adjusted and integrated step by step according to the mining right setting plan. (6) the mining right setting plan should be dynamically managed and revised in a rolling way, According to the geological exploration work, it is necessary to adjust the mining right setting scheme; (7) in order to speed up the formulation of the mining right setting plan for the integrated exploration area, according to the recent exploration work deployment, the main minerals and key areas can be highlighted, It can be divided into several units to work out the mining right setting plan step by step.

II. Technical requirements

the mining right setting plan is composed of the plan text, attached drawings and scheles. The text of the mining right setting plan should include general principles, geological and metallogenic background and social and economic development analysis, mining right division plan and conclusion, safeguard measures, The main technical requirements are as follows:

(1) outline the compilation of regional geographical location, scope (inflection point coordinates), area, transportation, natural conditions, socio-economic conditions, geological work, geological characteristics, resource reserves, mineral resources development and utilization, etc.

< P > (2) according to the compilation of regional natural geographical conditions, metallogenic law, geological structure, mining technical conditions, resource occurrence conditions, Geological work degree, economic and technical conditions, exploration and mining status, infrastructure layout, administrative division, integrated exploration implementation plan, etc., put forward the division plan of exploration right and mining right, and demonstrate the rationality of the number, location and scope of the established exploration right and mining right, The inflection point, coordinate, elevation, resource reserves and so on are described.

(4) combining with the local actual situation, the measures to ensure the implementation of mining right setting scheme in economic, legal, technical and administrative aspects are formulated.

(5) the data source of scheme compilation, the connection with relevant planning and integrated exploration implementation scheme are described in the annex; (6) list in tabular form the license number, name, inflection point, coordinates, area, validity period, identified and occupied resources and reserves, mining design scale and other details (see the attached table for details).

(7) the plan of mining right setting scheme shall have geographical elements, geological and mineral elements, geological exploration degree, and the plan of mining right setting scheme shall have the following contents, The name and scope of the established exploration right and mining right, the name (or number) and scope of the proposed exploration right and mining right, and the scope of the integration of the exploration right and mining right are briefly listed in the form of attached table on the left side of the figure; On the right side of the map, the name (or number) and area of the proposed exploration right and mining right are briefly listed in the form of attached table. The specific requirements are as follows:

1. geographical part. The basic geographical map of the region is drawn as the base map, including administrative boundaries above the county level, residential areas above the township level, railways and trunk roads, important water systems, Important peaks and landmarks.

2. 2. Basic part. Indicate the scope of preparation area, geological work degree (investigation and evaluation, pre investigation, general survey, detailed investigation, exploration) and scope; Faults, folds, etc; The scope of exploration right and mining right has been established; The mining right scope of the proposed exploration right.

3. 3; The proposed exploration right is circled with blue dotted line and filled with blue, while the proposed mining right is circled with green dotted line, (8) the final results of the mining right setting plan submitted include 3 paper copies and 3 electronic documents, Electronic offer data. The electronic offer of mining right setting scheme will be released separately.

4. Table 1 basic information of mining right setting scheme in zone x

5. region name

6. region category

7. inflection point coordinates

8. major minerals in the region

9. involving total amount control minerals

10. area (km2)

11. compiled Note: 1. Region name refers to the name of the region where the mining right setting plan is prepared, including the name of the administrative unit where the region is located, such as XX County, XX Province, XX region; In case of cross administrative region, the name of the common superior administrative unit shall be listed

    Regional categories include national planning mining area, mining area with important value to national economy, integrated exploration area, provincial key mining area (exploration area) and general mining area (exploration area)
    The coordinates of inflection points should be filled in the coordinates of longitude and latitude or rectangular coordinates of inflection points in Xi'an coordinate system in 1980
    The main minerals in the area should be listed as the main minerals and main associated minerals in the compilation area

13. 5. The establishment organ refers to the organ that formulates the scheme organization, and the approval organ refers to the organ that reviews and approves the scheme organization

    For the integrated exploration area, if multiple mining right setting schemes are worked out, In the remarks, it should be noted that the preparation unit belongs to the x x x full face exploration area.

    attached table 2 the basic situation of the established exploration rights in the x x x area in the x x x area in the second table of the attached table of the attached table 2

14. (inflection point coordinates)

15. block area (km2)

16. exploration stage

17. resource reserve unit

18. pre obtained resource reserve

20. valid period

21. valid period end

23. registration and certification authority

24. remarks

25. note: 1, The drawing number of the established exploration right

    The license number refers to the exploration license number of the listed exploration rights
    Project name refers to the name of the exploration project corresponding to the listed exploration rights
    Main minerals for exploration refer to the main minerals listed in the exploration license of the exploration right
    The latitude and longitude coordinates of each inflection point of the listed exploration right block in Xi'an coordinate system in 1980 are filled in the block scope
    The exploration stage mainly refers to the geological work stage specified in the exploration license, such as pre survey, general survey, detailed survey, exploration, etc
    Resource reserves refer to the sum of reserves and resources above grade 333 in the classification of solid mineral resources / reserves (1999); The resource reserve units shall refer to the requirements of Appendix I "mineral name, statistical object and resource reserve unit" in the notice of the Ministry of land and resources on carrying out mineral resource reserve registration (gtzf [2004] No. 35)
    For the approved mining right setting scheme, before the revision of the scheme, According to the following table, the paper is not filled in the table.

    < P >

    schele 3, the basic situation of the mining right in the X area of the attached list of the attached table, the table of the list of mining right, the list of mine name <

    < P >

    < <

26. resource storage The amount of

27. < P >

28. < service life (years)

    < < < 1. Drawing number refers to the plan of mining right setting On the map, the drawing number of the established mining right

    The license number refers to the mining license number of the listed mining rights

30. 3. Mine name refers to the mine name corresponding to the listed mining right

    Main minerals refer to the main minerals listed in the mining license of the mining right
    The Cartesian coordinates of the inflection points of the listed mining right range in Xi'an coordinate system in 1980 are filled in the mining area
    The occupied resource reserves refer to the total amount of reserves and resources above grade 333 in the classification of solid mineral resources / reserves (1999) occupied by the mining right; Resource reserve units shall refer to the requirements of Appendix I "mineral name, statistical object and resource reserve unit" in the notice on carrying out mineral resource reserve registration (gtzf [2004] No. 35); If the established mining right occupies a variety of minerals and the resource reserves are calculated respectively, the relevant data of each mineral should be filled in the order of main minerals, associated minerals and associated minerals
    Service life refers to the planned mining life of the mine according to the development and utilization plan of mineral resources and mine design
    Mining design scale refers to the annual mining volume of the mine according to the development and utilization plan of mineral resources and mine design; The actual proction capacity refers to the actual annual proction capacity of the mine after the mine is put into proction according to the market demand and actual proction situation; Design scale and development of solid mineral exploitation

4. The central bank's plan to issue digital currency is a decision made according to the development of the times
the simplest example is that city people love to use third party payment tools WeChat and Alipay to pay the bills, and the cash payment is decreasing. The third party payment is more and more popular among young people. In Europe, some developed economies are trying paperless trading. Moreover, bitcoin and other digital currencies will circulate in China after 2013, and the central bank will be inspired to issue digital currencies
in addition to the digital currency to be issued by the central bank, there are actually many application-oriented digital currencies, such as the tokens of crowdfunding projects on the European crowdfunding platform.

5. Private digital currency forces the monetary authorities to study the issue of central bank digital currency. There are not only bitcoin, lightcoin and other digital currencies, but also the domestic currency surplus China has started to issue applied digital currencies
all kinds of private digital currencies represented by bitcoin have sprung up, developed rapidly and exerted great influence. Many economists and financiers in the world, including central bankers, have been greatly impacted, and some even mistakenly believe that private digital currency may replace sovereign currency. As early as the end of 2013, the author clearly pointed out that virtual currency (including private digital currency) is not a currency in essence and cannot replace sovereign currency [3]. With the passage of time, the non monetary nature of virtual currency is graally recognized by people
private digital currency uses a series of new technologies, which have strong penetration into the financial system and even impact on the operation of modern economy and finance. Therefore, in order to maintain the stability of the monetary system and even the whole financial system, the monetary authorities must also use the same or even more advanced technology and design to study the issue of central bank digital currency. If the private digital currency is allowed to develop disorderly, it will have a serious impact on the monetary authorities' policy regulation and the economic and financial system
first, if private digital money is diverted and replaced by some sovereign money, the effectiveness of monetary policy will be weakened and the transmission mechanism will be distorted. Private currency and sovereign currency are in the relationship of one ebb and flow. With the continuous expansion of the scope of use of private digital currency, the use of sovereign currency will graally decline, which will rece the monetary authority's control over sovereign currency. At the same time, the influence of monetary policy regulation on the supply and circulation of sovereign money will decline and become unstable, which will weaken the effectiveness of monetary policy and distort the transmission mechanism. If the private digital currency is widely used but not issued and regulated by the monetary authority, the modern economy will lose an important means of regulation, and the economy will not function normally because it is not regulated by monetary policy< Second, the value of private digital currency fluctuates greatly, which threatens financial stability. Private digital currency is not a real currency without national credit endorsement. Its price is easily affected by market expectations, and its volatility is very high, so it is difficult to guarantee the market liquidity. With the expansion of the scope and scale of private digital currency, the probability of indivial private digital currency risk evolving into systemic risk will also rise< Thirdly, the supply of private digital money is relatively fixed, which is difficult to meet the needs of modern economic development. Taking bitcoin as an example, there is a contradiction between the upper limit of supply set by the system and the expanding social proction and commodity circulation. If it is widely used, it will cause deflation and inhibit economic development. This is also the root cause of the collapse of the gold standard
Fourth, private digital currency lacks a central regulation mechanism, which is difficult to meet the needs of the stability of the modern monetary system. The so-called "decentralization" without centralized issuing and regulating institutions is a common feature of private digital currency. If the private digital currency is generally accepted by the whole society, and the monetary authority is unable to stabilize the currency value through the central adjustment mechanism, it will not only cause economic fluctuations, but also shake the monetary system based on national credit[ 4]
fifthly, private digital currency brings challenges to anti money laundering, anti terrorist financing and capital control. Private digital currency is characterized by anonymity of transaction and free transnational flow of funds, which makes it easy for criminals to cover up the source and investment direction of their funds, and indivials to evade the regulations on the amount of foreign exchange and foreign exchange remittance [5], which brings convenience to money laundering, terrorist financing and capital control evasion< Sixth, private digital currency increases the difficulty of consumer protection. The price of private digital currency fluctuates greatly, market participants are almost not regulated, the security of users' funds is not guaranteed, and the transaction is not transparent. Therefore, private digital currency transactions are prone to fraud, theft and fraud. This not only causes the lack of protection of consumers' rights and interests, but also increases the difficulty of evidence collection and investigation by the regulatory authorities[ 6]
therefore, in order to deal with the impact of the rapid development of private digital currency on monetary sovereignty, monetary policy, financial risk and consumer protection, the monetary authorities clearly realize that the state should start to study the issue of central bank digital currency as soon as possible. In the future, with the support of national credit, the digital currency of the central bank should continuously meet the requirements of the society for the use of money technology and become a widely recognized settlement and payment method. Only in this way can the monetary authorities expand the use of sovereign currency and rece the impact of private digital currency on the monetary system and the entire financial system Transferred from NetEase Finance)