Can China issue digital currency
Publish: 2021-05-29 17:09:50
1. DCEP (digital currency electronic payment), the Chinese version of digital currency project, namely digital currency and electronic payment instrument, is the legal digital currency in the research of the people's Bank of China and a kind of digital currency
Digital RMB, issued by the people's Bank of China, is a controllable anonymous payment tool with value characteristics and legal compensation, which is operated by designated operating institutions and exchanged with the public. It is based on the generalized account system, supports the loose coupling function of bank accounts, and is equivalent to banknotes and coins
warm tips: the above information is for reference only
response time: December 23, 2020. Please refer to the official website of Ping An Bank for the latest business changes
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Digital RMB, issued by the people's Bank of China, is a controllable anonymous payment tool with value characteristics and legal compensation, which is operated by designated operating institutions and exchanged with the public. It is based on the generalized account system, supports the loose coupling function of bank accounts, and is equivalent to banknotes and coins
warm tips: the above information is for reference only
response time: December 23, 2020. Please refer to the official website of Ping An Bank for the latest business changes
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html
2. So far, the Central Bank of China has not officially issued digital currency. If digital currency will replace paper currency, it may take several years.
3. The Chinese version of CBDC is described as digital RMB, which is issued by the people's Bank of China, operated by designated operators and exchanged to the public. It is 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"
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
response time: October 13, 2020. Please refer to the official website of Ping An Bank for the latest business changes
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html
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
response time: October 13, 2020. Please refer to the official website of Ping An Bank for the latest business changes
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html
4. There is no established timetable for digital currency
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
in addition, Zhou Xiaochuan also mentioned that there is a lot of discussion about "51% attack" (assuming that indivials have 51% of the computing speed of the whole network, they can realize double payment, reverse transactions, paralyze the whole network, and completely lose the transfer function). More specifically, compared with the special currency, bitcoin does not need the central bank. Zhou Xiaochuan mentioned that for the digital currency controlled by the central bank, a series of technical means, mechanism design and laws and regulations will be adopted to ensure the security of the digital currency operation system, which is different from the design idea of bitcoin from the beginning
as for the digital currency timetable, Zhou Xiaochuan said that there is no established timetable. The relationship between digital currency and cash will be parallel and graally replaced for quite a long time. For reference.
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
in addition, Zhou Xiaochuan also mentioned that there is a lot of discussion about "51% attack" (assuming that indivials have 51% of the computing speed of the whole network, they can realize double payment, reverse transactions, paralyze the whole network, and completely lose the transfer function). More specifically, compared with the special currency, bitcoin does not need the central bank. Zhou Xiaochuan mentioned that for the digital currency controlled by the central bank, a series of technical means, mechanism design and laws and regulations will be adopted to ensure the security of the digital currency operation system, which is different from the design idea of bitcoin from the beginning
as for the digital currency timetable, Zhou Xiaochuan said that there is no established timetable. The relationship between digital currency and cash will be parallel and graally replaced for quite a long time. For reference.
5.
Virtual digital currency countries are allowed
according to Sohu Finance and Economics Report: the central bank recently said that the research on digital currency has achieved phased results, striving for the early issuance of digital currency
at present, major banks in many European and American countries and regions have publicly expressed their positive attitude towards the development of digital currency. If the digital currency is successfully issued, in addition to the convenience of people's living and payment, it will also bring many benefits to the country, such as improving the transparency of economic transaction activities, and the significance of cross-border e-commerce trade can not be underestimated
It is obvious that digital currency is highly expected based on its "excellent gene". Instry insiders said that once digital currency comes out, it will be applied to many fields. Although there must be an adaptation process from paper money to digital currency and the road of its reform will be very long, it can be seen that digital currency will inevitably form a development trend. Technological innovation will overcome the problems in reality. For example, if you go to a bank to do business now, if it doesn't involve cash, the lobby manager will recommend customers to ATM and other self-service equipment. This is a good proof that technological innovation has replaced labor in the past. Now mobile applications are also very simple. It can be predicted that the technology will continue to update in the future. The use of electronic channels, digital currency and other procts in the new era will become a trend, a trend that can not be reversed at present6. This problem is very professional
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
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
7. The central bank only plans to issue digital currency, and the specific time has not yet been determined. However, some relevant people said that the time for the central bank to issue digital currency is not mature, at least in ten years.
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