Can central bank issue digital currency to promote RMB internati
Publish: 2021-03-31 12:41:40
1.
The digital currency of the central bank is DCEP
the name of the digital currency developed by the central bank is DCEP (digital currency electronic payment). DC is digital currency. EP is electronic payment. Payment transmits digital things through a certain way, not paper currency. Therefore, electronic payment itself has the attribute of digital currency
The characteristics of digital currency are: low transaction cost; Fast trading speed; Highly anonymous
extended data
Application of digital currency
I. fast, economic and safe payment and settlement
cross border payment helps RMB internationalization. In 2015, the settlement volume of cross-border payment involving current account is about 8 trillion yuan. To accelerate the internationalization of RMB, cross-border payment and settlement procts and solutions with low cost, high efficiency and low risk are needed
At present, there are still a lot of repetitive human work in the bank's electronic loan process and processing process, and as the basic support of loan issuance, many of the collateral has the situation of false pricing or multiple or even no collateral. We can consider using digital currency to price and track bank collateral:3. Bill finance and supply chain finance
in recent years, various bill market businesses based on commercial bills have grown rapidly, and bill financing procts have become a hot area of Internet financing. However, about 70% of the current bill businesses in China are still paper transactions, Supply chain finance is also highly dependent on labor costs
reference materials
network digital currency
2. The benefits of issuing digital currency by National Central Bank
replace physical cash, rece the cost of issuing and circulating traditional paper money, and improve the convenience and transparency of economic transactions.
replace physical cash, rece the cost of issuing and circulating traditional paper money, and improve the convenience and transparency of economic transactions.
3. First, most people now use WeChat and paybora to pay for their mobile phone. After the digital RMB is launched, you can use digital money to pay Alipay. This is safer. Because if WeChat and Alipay make endorsement only by endorsement of their assets and credits, Digital RMB is backed by national credit, which is more reliable and safer
Digital RMB is coming! What is the impact on people's lives
secondly, many people think that digital RMB has special functions of anti money laundering and anti-corruption because of its traceability. I think that's half right. The introction of digital RMB really has a deterrent effect on money laundering. With the participation of blockchain technology, relevant departments can effectively find the source of funds, So as to effectively curb money laundering
however, it may not be so easy to crack down on corruption. Some corrupt elements may turn their money into a house and put it in the name of their relatives, but you can't find it, or some corrupt elements may put their corrupt money directly at home, and law enforcement agencies can't find it at all. Unless, like India's Modi, the old version of large banknotes will be voided and replaced with new banknotes. In the replacement, it is necessary to show the proof of the legal source of the huge amount of property
thirdly, digital currency can also help poverty alleviation and provide national welfare. During the epidemic period, China has formulated a lot of welfare policies for enterprises and indivials. However, e to inaccurate information and unimpeded channels, it is unable to benefit every enterprise and indivial. If we use the digital RMB channel, we believe that every enterprise and indivial will benefit directly. In this way, we can save time cost and channel operation cost without going through a third party. In addition, if we lay out the digital RMB well in advance, the state can distribute benefits to the people more directly and quickly, and it can also be accurate to the indivial. These will give our country is vigorously layout of the circular economy has played a role in boosting
Digital RMB is coming! What is the impact on people's lives
fourthly, digital RMB will play a positive role in import and export trade and lay a solid foundation for RMB internationalization in the next step. In addition to the use of digital RMB in import and export trade, it can also expand the influence of digital RMB in the world. In addition, China now has tens of millions of Chinese and overseas Chinese all over the world, who will play a positive role in the promotion and circulation of digital RMB. With the increasing status of RMB internationalization, the introction of digital RMB is more concive to the promotion and use of RMB in the world, and lays the foundation for RMB internationalization
of course, some people worry that if the network is cut off or the mobile phone has no signal, then digital currency can not be used, which is an irresistible accident. The central bank should take this into account before launching the digital Renminbi. In this regard, we believe that RMB banknotes and coins will not withdraw from circulation for a long time in the future. In the future, digital RMB and banknotes will coexist for a long time. Therefore, people can rest assured that the introction of digital RMB by the central bank will not affect people's daily life.
Digital RMB is coming! What is the impact on people's lives
secondly, many people think that digital RMB has special functions of anti money laundering and anti-corruption because of its traceability. I think that's half right. The introction of digital RMB really has a deterrent effect on money laundering. With the participation of blockchain technology, relevant departments can effectively find the source of funds, So as to effectively curb money laundering
however, it may not be so easy to crack down on corruption. Some corrupt elements may turn their money into a house and put it in the name of their relatives, but you can't find it, or some corrupt elements may put their corrupt money directly at home, and law enforcement agencies can't find it at all. Unless, like India's Modi, the old version of large banknotes will be voided and replaced with new banknotes. In the replacement, it is necessary to show the proof of the legal source of the huge amount of property
thirdly, digital currency can also help poverty alleviation and provide national welfare. During the epidemic period, China has formulated a lot of welfare policies for enterprises and indivials. However, e to inaccurate information and unimpeded channels, it is unable to benefit every enterprise and indivial. If we use the digital RMB channel, we believe that every enterprise and indivial will benefit directly. In this way, we can save time cost and channel operation cost without going through a third party. In addition, if we lay out the digital RMB well in advance, the state can distribute benefits to the people more directly and quickly, and it can also be accurate to the indivial. These will give our country is vigorously layout of the circular economy has played a role in boosting
Digital RMB is coming! What is the impact on people's lives
fourthly, digital RMB will play a positive role in import and export trade and lay a solid foundation for RMB internationalization in the next step. In addition to the use of digital RMB in import and export trade, it can also expand the influence of digital RMB in the world. In addition, China now has tens of millions of Chinese and overseas Chinese all over the world, who will play a positive role in the promotion and circulation of digital RMB. With the increasing status of RMB internationalization, the introction of digital RMB is more concive to the promotion and use of RMB in the world, and lays the foundation for RMB internationalization
of course, some people worry that if the network is cut off or the mobile phone has no signal, then digital currency can not be used, which is an irresistible accident. The central bank should take this into account before launching the digital Renminbi. In this regard, we believe that RMB banknotes and coins will not withdraw from circulation for a long time in the future. In the future, digital RMB and banknotes will coexist for a long time. Therefore, people can rest assured that the introction of digital RMB by the central bank will not affect people's daily life.
4. The issue of digital currency has many benefits and is imperative. According to the central bank, digital money and paper money will coexist for a long time to come. When people go to the bank to withdraw money, they can not only withdraw cash directly, but also exchange it into digital currency. In Xiaobian's opinion, the establishment and issuance of digital currency system can not only make people's transactions more convenient and safe, but also graally weaken the proportion of paper money in the real circulation, which will also have a positive impact on the electronic disk of postal money card
when people are used to digital currency, paper money will graally withdraw from the circulation market and enter the collection field. In the new environment of payment and circulation, the traditional paper money will become a symbol of an era and a memory of people. The paper money that used to circulate in the market will also become a kind of cultural and artistic investment goods, active on the electronic disk of the post money card. And those earlier and even rarer coins will also stimulate their prices to rise in this situation. It can be seen that the central bank's graal promotion of digital currency will have a profound impact on people's living habits and investment and financial management, which is worth looking forward to Sohu)
however, digital currency does not have to be used for payment. Some domestic application-oriented digital currencies have begun to find another shortcut and come out with a different truth. For example, coin Ying China crowdfunding project token; Puyin group launched the tea based digital currency Puyin.
when people are used to digital currency, paper money will graally withdraw from the circulation market and enter the collection field. In the new environment of payment and circulation, the traditional paper money will become a symbol of an era and a memory of people. The paper money that used to circulate in the market will also become a kind of cultural and artistic investment goods, active on the electronic disk of the post money card. And those earlier and even rarer coins will also stimulate their prices to rise in this situation. It can be seen that the central bank's graal promotion of digital currency will have a profound impact on people's living habits and investment and financial management, which is worth looking forward to Sohu)
however, digital currency does not have to be used for payment. Some domestic application-oriented digital currencies have begun to find another shortcut and come out with a different truth. For example, coin Ying China crowdfunding project token; Puyin group launched the tea based digital currency Puyin.
5. 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.
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.
6. On January 20, 2016, the people's Bank of China announced on its website that it held a seminar on digital currency. At the meeting, the central bank asked its digital currency research team to "strive for the early launch of the digital currency issued by the central bank". Similarly, central banks such as the Bank of England and the Bank of Canada are planning or considering issuing their own digital currencies. After the advent of bitcoin triggered a wave of private issue and de nationalization of digital currency, the digital currency issued by the central bank seems to have become a global trend
digital currency is a new technology, which is different from the traditional electronic payment tools used by online banking and third-party payment companies. It is developed on the basis of a series of new technologies - they are not tools to transmit money; They are money in themselves. Among them, digital currency based on cryptography is also called cryptocurrency. Bitcoin is a model of this kind of digital currency. After its birth, it inspired many similar systems. Some commercial banks and central banks have also begun to develop their own digital currency. According to the different issuers, we can divide digital currency into three types:
1. Digital currency issued by non-financial institutions
in November 2008, a man named Nakamoto Tsung invented a new technology called blockchain and designed a point-to-point e-cash system, namely bitcoin, for the first time. On January 3, 2009, Nakamoto completed the code development of bitcoin. Due to its point-to-point and electronic nature, bitcoin can be passed directly between two people without the need for a centralized settlement institution. Therefore, it is a fast, low-cost, borderless payment system
2. Digital currency issued by commercial banks
some large international financial institutions have taken a fancy to the low-cost, fast and safe characteristics of digital currency, and began to try to use its underlying technology, namely blockchain technology, to develop their own digital currency. For example, four of the world's largest banks, UBS, Deutsche Bank, Santander bank and New York Mellon bank, are already involved. Their digital currencies are similar to those mentioned above, but their issuers are different. It is particularly noteworthy that financial institutions develop digital currency to meet the needs of their own rapid clearing transactions, rather than challenge the financial situation by replacing the legal currency issued by the central bank. The domestic Puyin group also launched Puyin
3. Digital currency issued by the central bank
some central banks, such as the people's Bank of China and the Bank of England, also plan to launch their own central bank digital currency after some research on digital currency. Technically, CBDC is the same as the above two, but e to its special identity, CBDC will have a greater economic impact, which is the reason why the central bank wants to introce CBDC.
digital currency is a new technology, which is different from the traditional electronic payment tools used by online banking and third-party payment companies. It is developed on the basis of a series of new technologies - they are not tools to transmit money; They are money in themselves. Among them, digital currency based on cryptography is also called cryptocurrency. Bitcoin is a model of this kind of digital currency. After its birth, it inspired many similar systems. Some commercial banks and central banks have also begun to develop their own digital currency. According to the different issuers, we can divide digital currency into three types:
1. Digital currency issued by non-financial institutions
in November 2008, a man named Nakamoto Tsung invented a new technology called blockchain and designed a point-to-point e-cash system, namely bitcoin, for the first time. On January 3, 2009, Nakamoto completed the code development of bitcoin. Due to its point-to-point and electronic nature, bitcoin can be passed directly between two people without the need for a centralized settlement institution. Therefore, it is a fast, low-cost, borderless payment system
2. Digital currency issued by commercial banks
some large international financial institutions have taken a fancy to the low-cost, fast and safe characteristics of digital currency, and began to try to use its underlying technology, namely blockchain technology, to develop their own digital currency. For example, four of the world's largest banks, UBS, Deutsche Bank, Santander bank and New York Mellon bank, are already involved. Their digital currencies are similar to those mentioned above, but their issuers are different. It is particularly noteworthy that financial institutions develop digital currency to meet the needs of their own rapid clearing transactions, rather than challenge the financial situation by replacing the legal currency issued by the central bank. The domestic Puyin group also launched Puyin
3. Digital currency issued by the central bank
some central banks, such as the people's Bank of China and the Bank of England, also plan to launch their own central bank digital currency after some research on digital currency. Technically, CBDC is the same as the above two, but e to its special identity, CBDC will have a greater economic impact, which is the reason why the central bank wants to introce CBDC.
7. The problem itself is wrong. At present, China's central bank has not issued legal digital currency
(1) the monetary gold and silver Bureau of the people's Bank of China (PBOC) issued a "risk warning on issuing or promoting digital currency in the name of the people's Bank of China" on its official website, saying that indivial enterprises falsely use the name of the PBOC to label relevant digital procts as "authorized by the people's Bank of China", or falsely claim that the central bank's digital currency promotion team, in an attempt to deceive the public and take the opportunity to make huge profits
(2) the central bank said that at present, the central bank 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. 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
(3) the central bank emphasizes that the legal tender of China is RMB. RMB shall be uniformly printed and issued by the people's Bank of China. No unit or indivial may refuse to pay all public and private debts within the territory of China in RMB. The general public should establish a correct concept of currency, take good care of RMB and jointly maintain the normal circulation order of RMB.
(1) the monetary gold and silver Bureau of the people's Bank of China (PBOC) issued a "risk warning on issuing or promoting digital currency in the name of the people's Bank of China" on its official website, saying that indivial enterprises falsely use the name of the PBOC to label relevant digital procts as "authorized by the people's Bank of China", or falsely claim that the central bank's digital currency promotion team, in an attempt to deceive the public and take the opportunity to make huge profits
(2) the central bank said that at present, the central bank 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. 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
(3) the central bank emphasizes that the legal tender of China is RMB. RMB shall be uniformly printed and issued by the people's Bank of China. No unit or indivial may refuse to pay all public and private debts within the territory of China in RMB. The general public should establish a correct concept of currency, take good care of RMB and jointly maintain the normal circulation order of RMB.
8. Zero3 international settlement center adopts blockchain technology to complete cross-border payment through valuable digital assets euz. Compared with the traditional use of foreign exchange purchase and exchange between international banks, in 2018, ant financial services has actually tried to use blockchain technology in the field of international cross-border payment, so it is very good to use blockchain technology in Cross-border payment.
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