Japan accelerates preparation of digital currency

1. It is reported that the Central Bank of China is testing the digital currency based on blockchain
according to media reports, the people's Bank of China has completed a test on December 15, which shows how to conct transactions and clearing in the distributed ledger system
it is reported that this test was concted jointly with China's mainstream commercial banks, including ICBC, Bank of China and Weizhong bank< The report reads: "the people's Bank of China believes that digital currency can not only rece circulation costs, but also increase transparency, inhibit money laundering and tax evasion."
the report even suggests that Shanghai bill exchange pilot digital currency and set up a national bank bill transaction. At the same time, the people's Bank of China will also establish a digital currency Research Center, and is recruiting experts in big data, cryptography and blockchain technology< The report comes after Zhou Xiaochuan, the governor of the people's Bank of China, issued a statement in February in which he hinted that the people's Bank of China was considering using blockchain to issue digital currency
moreover, this test was concted at the time when the people's Bank of China launched an investigation into China's bitcoin exchange, which started early this month and has led to many changes in trading policies
as the world's first standard digital currency, Puyin takes 1 billion Tibetan tea as the primary standard asset, writes 1 billion Tibetan tea assets into the blockchain through digital encryption technology, and records the identification, evaluation and right confirmation of Tibetan tea.

2. This policy will boost the crime rate. All kinds of theft, fraud and disputes caused by digital currency will explode and grow.

3. Really? On the morning of August 2, the people's Bank of China held a working video conference for the second half of 2019, proposing to accelerate the pace of research and development of legal digital currency in China in the second half of the year, track and study the development trend of virtual currency at home and abroad, and continue to strengthen the regulation of Internet financial risks
in fact, the country has been studying the field of digital currency, and digital currency and blockchain are the future development trend. As for when to issue, we can only say that when the time comes, it will be issued naturally. We need to ensure the steady operation of the financial economy.

4. Don't listen to others any more. I've experienced it myself. Fortunately, I have to go back. Don't worry

5. It's necessary. It's a real proct of value. Similar to the early reborn, Ethereum, wave field.

6. This is a alarmist statement. The disappearance of paper money is feasible in theory, but it is not feasible in China, at least in the last decade. In some small European countries with developed economy and perfect infrastructure, it is very difficult for Norway, Finland, Luxembourg and Belgium to realize paperless transactions, not to mention China, a country with different levels of development
it is the general trend for the central bank to prepare digital currency, and it is feasible to replace cash transaction with digital transaction in theory and practice. In fact, it is the same. In the future, we will use digital currency more than cash, and digital currency payment will become the mainstream. However, bitcoin, lightcoin and other mainstream cryptocurrencies will be marginalized. There will be more digital currency asset certificates similar to those launched by European crowdfunding, but the service life will not be too long.

7. The central bank's preparation for the establishment of the digital currency Research Institute is only a study, and there is no conflict with the current paper currency. The function of this research is to study feasible schemes. The central bank has been paying attention to digital currency for a long time, and has started the work related to digital currency
however, when the digital currency scheme is implemented in the future, cash can still be used universally, because it is determined by China's national conditions. Bitcoin, Leyte, decent and other digital currencies may only exist as an asset class in the future.

8.

According to a report provided by the Japan credit association, in 2015, less than 20% of the transaction volume in Japan's credit card, debit card and e-money market. Because cash is widely used, people have little incentive to change this situation

"the biggest obstacle to the popularity of digital currency is that other people don't find cash inconvenient, so they won't download a digital currency app." Kawai, 53, said, "so far, the cash supply has been in demand, and our task is to keep it going", even if it increases the cost of the bank

Kawai also talked about the current hot bitcoin market. She said that even with the development of bitcoin technology, it is difficult for this digital currency to become a settlement method. Kawai said bitcoin had become a commodity for speculation. Kawai's view is seen as a supplement to last year's speech by Haruhiko Kuroda, governor of the Bank of Japan. Mr Kuroda said last year that the BoJ had no specific plan to launch a digital currency and that it was unlikely to change this situation in a short time

According to Kawai, the BoJ's current position is faced with a big risk, that is, because of its failure to fully use digital currency, other countries that make use of technology and financial technology may take the lead. If Japan can't provide convenient services for foreign tourists, their spending in Japan may decline. "If we keep the status quo, foreigners' spending in Japan will decline." Kawai said