Central bank digital currency may be issued earlier than Libra

1. God. Block the digital currency issued by the Central Bank of China. I think the significance of China's digital currency issuance is convenient and simple.

2.

To guard against the possible risks brought by bitcoin, we know that digital currency represented by bitcoin has high risks. This kind of risk is mainly reflected in two aspects: first, the limitation of digital currency makes it used as investment goods, and the price is extremely unstable. Those who do not understand the principle of digital currency and pay too much attention to speculation are easy to suffer losses for various reasons

Secondly, national digital currency is linked to its own legal currency to a certain extent, so it effectively avoids the price volatility of bitcoin. Because the CBDC issued by our country is guaranteed by the credit of the central bank, it must be a stable currency. In today's international situation, the research and development of digital currency in China is of great significance. The introction of digital currency is not an expedient measure, it has become the development direction of China's future currency

3.

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

4. CBDC, the full name of central bank digital currencies, translated as the central bank digital currency
in its Research Report on CBDC, the Bank of England defines central bank digital currency as an electronic form of central bank currency, which can be used by households and businesses to make payments and store value
the Chinese version of CBDC is described as a controllable anonymous payment tool, which is issued by the people's Bank of China, operated by designated operating institutions and exchanged to the public, based on the generalized account system, supports the loose coupling function of bank accounts, is equivalent to banknotes and coins, and has value characteristics and legal compensation
what we call DC / EP is the Chinese version of the central bank's digital currency, translated as "digital currency and electronic payment instruments"
response time: October 27, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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5. Perhaps there is a worry that, like bitcoin, the value of the currency will be unstable and will jump up and down after it is issued, and an unstable currency will be very harmful to a country. After all, digital currency is still a "scarce commodity", and international speculators will not miss this opportunity.

6. All digital currencies are illegal in China, and there is no so-called mainstream digital currency at all.
the central bank has never issued digital currency, and now it is just studying it