Has the digital currency of the central bank been listed
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
what we call DC / EP is the Chinese version of the central bank's digital currency, translated as "digital currency and electronic payment instruments"
the center for International Settlements (BIS) and the Committee on payment and market infrastructure (CPMI), two authoritative international organizations, jointly concted two questionnaires on more than 60 central banks in 2018 and 2019. The content of the questionnaire includes the work progress of central banks on digital currency, the motivation of studying digital currency and the possibility of issuing digital currency. 70% of central banks said they are (or will be) involved in the research of digital currency
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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
It is not currently available
at present, the Central Bank of China has not issued and approved the digital currency of issuers and investors
However, at the beginning of the year, the central bank held a seminar on digital currency, at which it made it clear that it was necessary to issue digital currency as soon as possible, and the central bank put the issue of digital currency on the agendahowever, so far, the central bank has not issued any digital currency, and Zhou Xiaochuan, the governor of the central bank, said that the time is not ripe to issue digital currency. Moreover, the digital currency issued by the central bank is different from bitcoin, Ruitai, Laite and other digital cryptocurrencies, and the digital currency issued by the central bank is not decentralized
when the central bank issues digital currency, it needs to establish a basic digital currency system. In this system, the central bank is in charge of the digital currency issuing bank, the commercial bank is in charge of the bank, and the public and indivials hold digital wallets. This is not much different from the existing monetary system in essence, but the managed currency is changed from paper money to digital cryptocurrency
in terms of issuing mechanism, there are two modes:
one is the traditional mode of "central bank commercial bank", that is, the central bank issues digital currency from the issuing bank of the central bank to the Bank of the commercial bank. When an indivial withdraws money from the commercial bank, the digital currency is transferred from the commercial bank to the personal digital wallet
another mode is the "central bank public" mode, that is, the central bank can directly issue digital currency from the currency issuing bank to the digital wallet of the public and indivials. In essence, no matter which issuing mode, money is ultimately held by the public, which is the debt of the central bank to the public
we are ready to discover digital currency, but it is still in the planning and brewing stage, and there is no formal issue
this project will upgrade the existing currency discovery mechanism, and each unit of currency is given its own special identification mechanism
in addition, the bank account, Zhang Sanhui gives you 100, Li Sihui gives you 100, under the current system, there is no essential difference between the two 100, For you, for the system, the bank account is the same bookkeeping symbol, but under the digital currency mechanism, the system can correctly identify which unit currency, that is, the 200 yuan, is given by Zhang San and which by Li Si. Note that this is in the electronic system, not the actual paper currency, which is equivalent to giving DNA to each unit currency
according to media reports, before the Spring Festival, the blockchain based digital bill trading platform promoted by the people's Bank of China has been successfully tested. After the Spring Festival, the digital currency Research Institute of the central bank will also be officially listed. This means that the people's Bank of China will become the first central bank to study digital currency and its real application.
Recently, the central bank has made new progress in issuing digital currency. It is understood that the blockchain based digital bill trading platform promoted by the central bank has been successfully tested, the legal digital currency issued by the central bank has been put into trial operation on the platform, and the digital currency Research Institute of the central bank will be officially listed after the Spring Festival. This means that the people's Bank of China will be the first central bank to issue digital currency and carry out real application in the world
inflation generally refers to the devaluation and price rise of banknotes caused by the issue of banknotes exceeding the amount of money actually needed in commodity circulation. Its essence is that the total social demand is greater than the total social supply< In modern economics, inflation means the rise of the overall price level. General inflation is the decline of market value or purchasing power of currency, while currency depreciation is the relative decline of currency value between two economies. The former is used to describe the national currency value, while the latter is used to describe the added value in the international market. The relationship between them is one of the controversies in economics
the circulation law of paper money shows that the circulation of paper money can not exceed the amount of gold and silver money it symbolically represents. Once it exceeds this amount, the paper money will depreciate and the price will rise, resulting in inflation. Inflation can only occur under the condition of paper currency circulation, but not under the condition of gold and silver currency circulation. Because gold and silver money has its own value, as a means of storage, it can spontaneously adjust the amount of money in circulation and make it adapt to the amount of money needed for commodity circulation. Under the condition of paper currency circulation, because paper currency itself has no value, it is only a symbol of gold and silver currency, and can not be used as a storage means. Therefore, if the circulation of paper currency exceeds the quantity needed for commodity circulation, it will depreciate
for example, if the amount of gold and silver currency needed in commodity circulation remains unchanged, and the amount of paper money issued exceeds twice the amount of gold and silver currency, the unit paper money can only represent 1 / 2 of the value of the unit gold and silver currency. In this case, if the price is measured by paper money, the price will double, which is commonly known as currency devaluation. At this time, the amount of paper money in circulation is double that of gold and silver money needed in circulation, which is inflation. In macroeconomics, inflation mainly refers to the general rise of prices and wages.