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The influence of RMB digital currency on us

Publish: 2021-04-02 17:50:55
1.

The hot sale of applepay payment has caused quite a stir. Convenient digital payment makes "digital currency" a hot topic again as early as January this year, the central bank said that it would actively absorb the important achievements and practical experience of digital currency research at home and abroad, and strive for the early launch of the digital currency issued by the central bank. Recently, central bank governor Zhou Xiaochuan mentioned "digital currency" again in an interview with the media. Obviously, digital currency may not be far away from us

why issue digital currency

" In a few years, cash may not exist; This new trend has overturned many people's usual ideas. However, in order to explore the essence of money, its contractual nature determines that it can have different forms of expression. It is not surprising that money has changed its appearance in different historical periods“ From the perspective of historical development trend, money always evolves with the development of technology and economic activities. From the early physical currency, commodity currency to the later credit currency, it is a natural choice to adapt to the development of human commercial society. " Zhou Xiaochuan, governor of the people's Bank of China, said

2. 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.
3.

The central bank's digital RMB has legal compensation, Digital RMB does not pay interest, and can be used in small, retail and high-frequency business scenarios. It is no different from paper money, and it is very convenient to use. according to relevant instry insiders, the use of digital currency does not need the Internet, and it can be said to be simple and convenient with a mobile phone, The cost is low

is there any security guarantee? In fact, the central bank's digital RMB has the nature of legal compensation. Digital RMB does not calculate and pay interest, and can be used in small, retail and high-frequency business scenarios. It is no different from paper money. Moreover, because of the nature of legal compensation, we can't refuse to accept the central bank's digital RMB. Moreover, the digital currency Research Institute of the people's Bank of China says that it can realize the circulation of digital currency between different clients in the transaction process by means of technical solutions, generating new digital currency and canceling old digital currency. After being excited for so long, it turned out that it was just an oolong. However, some people said that this warm-up is likely that the digital currency will be released soon

4. Similar to Alipay and WeChat pay, no physical bills, you will spend faster, because spend money without shadow, no trace, finally the money became a figure, let people become no basic concept of money.
5. If you want to trade bitcoin, you can go to aofex platform, which is a formal platform with multiple risk early warning system, so that the transaction is more secure, and I am also using it.. Are you satisfied with my answer? Please accept if you are satisfied
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