Can digital currency reduce the risk of cross border payment

1.

Yin Zhentao, deputy director of the law and Finance Research Office of the Financial Research Institute of the Chinese Academy of Social Sciences, said that digital currency faces two risks. The first is the technical level. Digital currency relies on blockchain technology and a system, which will make it suffer from security impact, such as hacker attacks on computer systems. We have seen many practical problems in this process

Zhao Zhanzhan, a special researcher of intellectual property research center of China University of political science and law, believes that digital currency has anonymity, quickness and irrevocability. In addition, bitcoin and other digital currencies have high circulation in the world, so many criminals use digital currency as a new money laundering channel. Moreover, there are many different ways to realize money laundering through digital currency. Generally speaking, the probability of new money laundering being found and investigated is lower than before. Many countries have no effective means and technology to combat money laundering through digital currency. These factors lead to criminals prefer this way of money laundering

2. Digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy
digital currency is a kind of unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of specific virtual communities. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form
according to the notice on preventing the financing risk of token issuance, there is no approved digital currency trading platform in China. According to China's digital currency regulatory framework, investors have the freedom to participate in digital currency transactions at their own risk

warm tips: the above information is for reference only. Before investing, it is recommended that you first understand the risks existing in the project, and understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
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3. The core value of CBDC can be summarized as four points: first, the original purpose is to let the central bank better manage money creation and supply, enhance the effectiveness of monetary policy transmission mechanism and better deal with the business cycle. Second, the construction of payment and clearing infrastructure based on blockchain related technologies can rece costs and increase efficiency. Digital currency can greatly rece the cost of currency issuance, circulation, use and other links, and realize banknote free transactions, which is also in line with the current trend of rapid development of electronic payment. Third, it has given the central bank stronger control over the monetary system, such as KFC, anti money laundering, anti-terrorism financing, and some targeted policies. Before the launch of Libra, the central bank attached importance to CBDC mainly for the above three purposes. But now, the significance of CBDC in promoting the internationalization of RMB has become more important than ever. This is the fourth purpose of the central bank. Judging from the current progress of RMB internationalization, there are indeed many difficulties. One is the US led encirclement and interception, and the other is the turbulence in the stock and exchange markets. In order to break the encirclement led by the United States, realize the normal development of the stock exchange market and the foreign exchange market, and realize the internationalization of RMB, it is really a good way for the central bank to issue digital currency. On the 10th anniversary of RMB internationalization, RMB internationalization has made remarkable achievements. 13 international financial institutions around the world began to pay attention to China's bond market. In the tide of interest rate rection in developed countries, negative interest rate has become a conventional means, and China's bonds are very competitive in the world. As of the second quarter of 2019, 38 countries have signed currency swap agreements with China, with a total amount of 3.67 trillion yuan. The one belt, one road, which one belt, one road to push forward, is continuously creating demand for RMB internationalization, and the export of RMB has become an important means of "one belt and one road" internationalization of RMB. In addition, RMB is one of the most active currencies in the global foreign exchange market, and London has surpassed Hong Kong as the world's largest offshore RMB foreign exchange trading center. With the steady development of China's economy, RMB assets will continue to be favored by all countries in the world< One belt, one road or other friendly country, was also shared by the Central Bank of China when it issued the CBDC. It shared some of the mint rights with br />
CBDC. How to participate? Including the following two cases, let's take Kazakhstan as an example. The first is that Kazakhstan can issue RMB denominated Kazakh government bonds. The issuer is Kazakhstan, but the RMB denominated bonds are sovereign bonds for Kazakhstan, which can also be sold to the Central Bank of China in exchange for CBDC. The second is that Kazakhstan issues treasury bonds denominated in its own currency, which are issued by Kazakhstan and priced in its own currency. This method is the easiest for Kazakhstan, because this is their own national debt, which is sold to the Central Bank of China, which gives it CBDC. The similarities between the two lie in that they both sell treasury bonds to the Central Bank of China, but the issuers of treasury bonds are not the same, and the pricing currencies of treasury bonds are not the same, so the requirements for Kazakhstan are not the same. In theory, these ways can be used as a political tool to influence and regulate the relationship between the Chinese government and Kazakhstan<

4 digital currency will become the biggest magic weapon of RMB internationalization

China is now facing the biggest challenge, in terms of currency, in fact, the internationalization of RMB. The monetary settlement system based on US dollar has brought great problems to the decision-makers outside the US dollar. The best way to rece the status of US dollar is to replace us dollar with a global digital currency to end the dominant advantage of US dollar. The Chinese version of CBDC is likely to become the biggest magic weapon to promote the internationalization of RMB and end the hegemony of US dollar. The opportunity for RMB internationalization lies in the trend of de dollarization. Therefore, we need friendly countries other than US dollars to participate in China's digital currency. Taking the lead in the use of digital currency in block trading and financial settlement to bypass the restrictions on trading in US dollar will certainly realize the development of de dollarization and form a new currency trading system dominated by China and participated by many parties. So how to achieve it? In essence, it is to transfer benefits, so that non dollarized friendly countries can participate in the issuance process of CBDC, and even share the seigniorage of RMB. It is the most effective magic weapon to embody the spirit of democratization and benefit sharing of blockchain and bitcoin in the design of sovereign currency, which is also the most practical way to realize the internationalization of RMB.

4. Digital currency does not worry about counterfeit money. If it is paper money, it worries about counterfeit money. I don't worry. I didn't take any money with me.

5.

The role of digital currency:

1. First of all, the central bank's digital currency can provide a huge data base for monetary policy and macro Prudential policy, so that the regulatory authorities can collect real-time trading books of different frequency and different institutions according to their needs, and it is complete and real. This information advantage can help the central bank use policy tools more accurately and flexibly

Secondly, the central bank's digital currency technology can track the flow of funds and help the regulatory authorities to comprehensively monitor and assess financial risks. Finally, the central bank's digital money technology is concive to the transmission of interest rate of monetary policy. Digital currency technology supports "point-to-point" payment and settlement, which can improve the liquidity of market participants. Only the digital currency of the central bank, which is generally accepted by the whole society, can radiate this advantage to the participants of different financial markets, so as to improve the liquidity of financial markets. This will make the term structure of interest rate smoother and the transmission mechanism of interest rate smoother

extended data:

digital currency can be considered as a virtual currency based on node network and digital encryption algorithm. The core characteristics of digital currency are mainly reflected in three aspects: because it comes from some open algorithms, digital currency has no issuing subject, so no one or institution can control its issuing; Because the number of algorithm solutions is fixed, the total amount of digital currency is fixed, which fundamentally eliminates the possibility of inflation caused by the overuse of virtual currency; Because the transaction process needs the approval of each node in the network, the transaction process of digital currency is safe enough

6. Unlike traditional currencies, the market fluctuation of digital currency is generally very large. This roller coaster market makes digital currency unable to maintain long-term stability, and also greatly increases the risk of digital currency trading. After all, no one can guarantee to make a steady profit in the currency market
before preparing for admission, do your homework first, and try to choose a well-known currency. Take a look at the market of the currency from its issuance to the present. If the market fluctuates greatly, it is not recommended to choose it
in addition, if the currency has been rising, it is recommended to operate cautiously, because there will be a big drop after a big rise
in the currency market, everyone wants to get rich overnight and give himself the opportunity to get rich freely. Therefore, all kinds of blockchain projects have sprung up like mushrooms. A white paper and a famous big man platform can simply issue a digital currency and introce the project to the public. It sounds like it can really make money. But after enough money in the circle, the project side will choose to run. In the coin circle, broken projects are very common
when you look at a project, don't just listen to the words of the project party. Just like sales, they will only show the good side of the proct, and consumers need to identify what they want. Although the boss of the platform can add points to the projects, Li Xiaolai himself has said that most of the projects on his platform are not optimistic. Therefore, the most important thing is to study the white paper and look at it with a critical eye. If the project has no landing scene, like a castle in the air, then do not choose to invest
in fact, digital currency trading is not as terrible as expected, and the currency circle is not full of traps, just like in all walks of life, there are borers in every line, but it does not affect the proction of benchmarking. What we need to do is to keep a cool head and carefully analyze the advantages and disadvantages. The most important thing is not to be too greedy. Enough is the survival rule of the coin circle.

7. 42 weeks is 42 * 7 = 294 (days), 294 days is 6 days less than 10 months, so the shelf life will be pushed forward by 6 days to October 8, 2020, that is, the shelf life will be pushed forward to October 2.