Can digital currency issue without paper money

1. In theory, the central bank issues digital currency to replace paper money. However, this process is very slow, because the development of various regions in China is seriously unbalanced, and the acceptance of digital currency is also different. The digital currency trial run by the central bank is only applied to the bill market
in the future, there may be many digital currencies in China, and each digital currency will have its own application. For example, Puyin is a very interesting digital currency, which corresponds to the assets related to tea.

2. After the central bank issues the digital currency, the paper currency will continue to circulate in the market, and the paper currency will go hand in hand with the digital currency. Just like many people are using Alipay and WeChat to pay now, banknotes are still the main way of payment, and the future digital version of the central bank is also true.
the central bank's version of digital currency will first be applied to the bill market. The central bank's version of digital currency has the property of currency and has the credit endorsement of the central bank
recently, Puyin group also launched the tea based digital currency Puyin. Puyin is a high-quality Tibetan tea asset that is stored, identified, evaluated and authorized by three parties, and a standard digital currency issued by encryption and digitization.

3.

The digital RMB red envelope of 10 million yuan issued by Shenzhen city has brought the development of e-money back to the people's vision

in fact, since April 2020, small-scale pilot projects of digital RMB have been carried out in Shenzhen, Cheng, Suzhou and xiong'an, and the pilot scale will be expanded to 28 provinces and cities in August 2020

as a socially recognized "super outlet", in addition to the high investment of digital currency related enterprises, its impact on the financial market is also of great research value

Policy evolution of the development of digital RMB

as early as 2014, the central bank has concted research layout on digital RMB, and discussed the development framework of digital RMB with major international financial institutions and research institutions in the 2016 digital currency seminar

after six years of development, China has initially developed the "pbctfp blockchain platform" and continuously promoted the pilot activities of digital RMB. It can be predicted that as today's technology and policy outlet, digital RMB will have excellent development prospects and extremely fast development speed in the next few years

Figure 1: Policy Evolution of digital RMB

with the improvement of China's national strength, digital RMB provides an opportunity to establish a "new system of RMB cross border settlement", which can promote RMB payment activities around the world and realize the internationalization of RMB

4. The purpose of issuing digital currency by the central bank is to replace physical cash and rece the cost of issuing and circulating traditional paper money,... In short, the digital currency researched and issued by the central bank is index RMB, which is a kind of legal encrypted digital currency.

5. The digital currency of the central bank can't see any influence now. Let's take another look

6. It is impossible for paper money to disappear in decades

7.

To solve the following problems, the elimination of paper currency is not a problem:

1. the security of digital currency. Including the use of security and value-added security

2. the circulation of digital currency. The digital currency circulation security and supervision of enterprises and indivials in various countries

3. blockchain and integration of digital currency. Digital currency should be hedged, derived, prevented and traded with each other in the form of currency exchange rate of similar countries

4. whether economic globalization has been successfully replaced by digital currency globalization

5. solve the financial operation of digital currency and commodity futures, trade and so on, and whether there is a common digital currency as the benchmark currency in the global circulation. For example, the role of the US dollar as an international currency

6. whether e-commerce is popular enough. There are more comprehensive electronic transactions, digital currency trading terminal is the foundation of everything< br />