Opportunities and challenges of digital currency
Publish: 2021-04-14 22:48:19
1. The widespread use of e-money has greatly reced the operating costs of banks, accelerated the circulation speed of money, and improved the service efficiency of banks. For banks, paper money and coins usually require a lot of expenses for counting, bookkeeping, storage, transportation and security, but the rapid development of e-money can greatly simplify these work, And save the high cost of handling coins and notes. With the help of computer information technology, electronic money can play the role of transaction, circulation and payment with the help of electronic information flow, which will inevitably rece the transaction cost and improve the circulation and transaction speed of money market and commodity market
it is convenient for transfer and transfer between different branches within the bank. It is concive to the development of bank card issuing business. The transformation of national economic development mode will focus on stimulating domestic demand. The development of bank credit card instry is facing a golden opportunity< In addition to the original banking business, commercial banks have also launched new businesses, such as handling deposits and withdrawals outside the counter, opening personal financial accounts such as consumption accounts, investment accounts, foreign exchange trading accounts, etc., to handle personal consumption credit, ecation investment credit, portfolio tools, etc, Actively contact with large shopping malls, supermarkets and other units that use electronic money frequently, set up POS machines in the above units, connect banks, units, governments and indivials, and form a huge service network with commercial banks as the core. With the emergence of e-money, commercial banks, other financial enterprises and non-financial enterprises have an important influence on the total circulation scale of e-money. As a result, the functions of commercial banks will undergo a major transformation. There will be fierce competition among commercial banks for the market share of e-money payment and settlement on the Internet, which will promote banks to establish the main customer-oriented marketing mode, Strive for more customers
challenges:
1. China's annual consumption of e-money has been on the rise since 2003, and the income brought by e-money consumption to its issuers has also increased significantly. If commercial banks do not strive for more e-money issuing qualifications or stay at the current e-money business service level, they will lose their share of e-money business income
2. If commercial banks issue e-money, when users purchase e-money initially, the traditional money deposits of users decrease, the e-money deposits increase, and the traditional money deposits of society also decrease. If the central bank does not draw the deposit reserve for e-money deposits of commercial banks, the total amount of e-money deposits will continue to increase with the use of e-money for payment; Correspondingly, the deposit creation process of traditional money will stop, so the total amount of traditional money deposits of commercial banks will decrease, and then the deposit reserve will decrease.
it is convenient for transfer and transfer between different branches within the bank. It is concive to the development of bank card issuing business. The transformation of national economic development mode will focus on stimulating domestic demand. The development of bank credit card instry is facing a golden opportunity< In addition to the original banking business, commercial banks have also launched new businesses, such as handling deposits and withdrawals outside the counter, opening personal financial accounts such as consumption accounts, investment accounts, foreign exchange trading accounts, etc., to handle personal consumption credit, ecation investment credit, portfolio tools, etc, Actively contact with large shopping malls, supermarkets and other units that use electronic money frequently, set up POS machines in the above units, connect banks, units, governments and indivials, and form a huge service network with commercial banks as the core. With the emergence of e-money, commercial banks, other financial enterprises and non-financial enterprises have an important influence on the total circulation scale of e-money. As a result, the functions of commercial banks will undergo a major transformation. There will be fierce competition among commercial banks for the market share of e-money payment and settlement on the Internet, which will promote banks to establish the main customer-oriented marketing mode, Strive for more customers
challenges:
1. China's annual consumption of e-money has been on the rise since 2003, and the income brought by e-money consumption to its issuers has also increased significantly. If commercial banks do not strive for more e-money issuing qualifications or stay at the current e-money business service level, they will lose their share of e-money business income
2. If commercial banks issue e-money, when users purchase e-money initially, the traditional money deposits of users decrease, the e-money deposits increase, and the traditional money deposits of society also decrease. If the central bank does not draw the deposit reserve for e-money deposits of commercial banks, the total amount of e-money deposits will continue to increase with the use of e-money for payment; Correspondingly, the deposit creation process of traditional money will stop, so the total amount of traditional money deposits of commercial banks will decrease, and then the deposit reserve will decrease.
2. For ordinary people, it is more convenient for us to travel, so mobile phone should be an indispensable tool for human beings.
3. The core value of CBDC can be summarized as four points: first, the original purpose is to let the central bank better manage money creation and supply, enhance the effectiveness of monetary policy transmission mechanism and better deal with the business cycle. Second, the construction of payment and clearing infrastructure based on blockchain related technologies can rece costs and increase efficiency. digital currency can greatly rece the cost of currency issuance, circulation, use and other links, and realize banknote free transactions, which is also in line with the current trend of rapid development of electronic payment. Third, it has given the central bank stronger control over the monetary system, such as KFC, anti money laundering, anti-terrorism financing, and some targeted policies. Before the launch of Libra, the central bank attached importance to CBDC mainly for the above three purposes. But now, the significance of CBDC in promoting the internationalization of RMB has become more important than ever. This is the fourth purpose of the central bank. Judging from the current progress of RMB internationalization, there are indeed many difficulties. One is the US led encirclement and interception, and the other is the turbulence in the stock and exchange markets. In order to break the encirclement led by the United States, realize the normal development of the stock exchange market and the foreign exchange market, and realize the internationalization of RMB, it is really a good way for the central bank to issue digital currency. On the 10th anniversary of RMB internationalization, RMB internationalization has made remarkable achievements. 13 international financial institutions around the world began to pay attention to China's bond market. In the tide of interest rate rection in developed countries, negative interest rate has become a conventional means, and China's bonds are very competitive in the world. As of the second quarter of 2019, 38 countries have signed currency swap agreements with China, with a total amount of 3.67 trillion yuan. The one belt, one road, which one belt, one road to push forward, is continuously creating demand for RMB internationalization, and the export of RMB has become an important means of "one belt and one road" internationalization of RMB. In addition, RMB is one of the most active currencies in the global foreign exchange market, and London has surpassed Hong Kong as the world's largest offshore RMB foreign exchange trading center. With the steady development of China's economy, RMB assets will continue to be favored by all countries in the world< One belt, one road or other friendly country, was also shared by the Central Bank of China when it issued the CBDC. It shared some of the mint rights with br />
CBDC. How to participate? Including the following two cases, let's take Kazakhstan as an example. The first is that Kazakhstan can issue RMB denominated Kazakh government bonds. The issuer is Kazakhstan, but the RMB denominated bonds are sovereign bonds for Kazakhstan, which can also be sold to the Central Bank of China in exchange for CBDC. The second is that Kazakhstan issues treasury bonds denominated in its own currency, which are issued by Kazakhstan and priced in its own currency. This method is the easiest for Kazakhstan, because this is their own national debt, which is sold to the Central Bank of China, which gives it CBDC. The similarities between the two lie in that they both sell treasury bonds to the Central Bank of China, but the issuers of treasury bonds are not the same, and the pricing currencies of treasury bonds are not the same, so the requirements for Kazakhstan are not the same. In theory, these ways can be used as a political tool to influence and regulate the relationship between the Chinese government and Kazakhstan<
4 digital currency will become the biggest magic weapon of RMB internationalization
China is now facing the biggest challenge, in terms of currency, in fact, the internationalization of RMB. The monetary settlement system based on US dollar has brought great problems to the decision-makers outside the US dollar. The best way to rece the status of US dollar is to replace us dollar with a global digital currency to end the dominant advantage of US dollar. The Chinese version of CBDC is likely to become the biggest magic weapon to promote the internationalization of RMB and end the hegemony of US dollar. The opportunity for RMB internationalization lies in the trend of de dollarization. Therefore, we need friendly countries other than US dollars to participate in China's digital currency. Taking the lead in the use of digital currency in block trading and financial settlement to bypass the restrictions on trading in US dollar will certainly realize the development of de dollarization and form a new currency trading system dominated by China and participated by many parties. So how to achieve it? In essence, it is to transfer benefits, so that non dollarized friendly countries can participate in the issuance process of CBDC, and even share the seigniorage of RMB. It is the most effective magic weapon to embody the spirit of democratization and benefit sharing of blockchain and bitcoin in the design of sovereign currency, which is also the most practical way to realize the internationalization of RMB.
CBDC. How to participate? Including the following two cases, let's take Kazakhstan as an example. The first is that Kazakhstan can issue RMB denominated Kazakh government bonds. The issuer is Kazakhstan, but the RMB denominated bonds are sovereign bonds for Kazakhstan, which can also be sold to the Central Bank of China in exchange for CBDC. The second is that Kazakhstan issues treasury bonds denominated in its own currency, which are issued by Kazakhstan and priced in its own currency. This method is the easiest for Kazakhstan, because this is their own national debt, which is sold to the Central Bank of China, which gives it CBDC. The similarities between the two lie in that they both sell treasury bonds to the Central Bank of China, but the issuers of treasury bonds are not the same, and the pricing currencies of treasury bonds are not the same, so the requirements for Kazakhstan are not the same. In theory, these ways can be used as a political tool to influence and regulate the relationship between the Chinese government and Kazakhstan<
4 digital currency will become the biggest magic weapon of RMB internationalization
China is now facing the biggest challenge, in terms of currency, in fact, the internationalization of RMB. The monetary settlement system based on US dollar has brought great problems to the decision-makers outside the US dollar. The best way to rece the status of US dollar is to replace us dollar with a global digital currency to end the dominant advantage of US dollar. The Chinese version of CBDC is likely to become the biggest magic weapon to promote the internationalization of RMB and end the hegemony of US dollar. The opportunity for RMB internationalization lies in the trend of de dollarization. Therefore, we need friendly countries other than US dollars to participate in China's digital currency. Taking the lead in the use of digital currency in block trading and financial settlement to bypass the restrictions on trading in US dollar will certainly realize the development of de dollarization and form a new currency trading system dominated by China and participated by many parties. So how to achieve it? In essence, it is to transfer benefits, so that non dollarized friendly countries can participate in the issuance process of CBDC, and even share the seigniorage of RMB. It is the most effective magic weapon to embody the spirit of democratization and benefit sharing of blockchain and bitcoin in the design of sovereign currency, which is also the most practical way to realize the internationalization of RMB.
4. The opportunity and challenge I am facing now is that I am doing part-time work, and I have to answer many questions every day. Although it is comfortable to do it at home and I don't need to run around in the sun, the amount of questions is really large, which makes me feel very tired, and the work and rest time is irregular. But if I do full two months, there will be internship proof, for me or more attractive, let me very tangled.
5. In the era of big data, China can complete the visualization analysis of data according to its own big data, so as to make the rational allocation and use of resources. The challenge is that it will also face the international standard of resources, and foreign enterprises will also analyze it, aggravating our competition.
6.
1、 Opportunities:
1. The development of high technology provides China with opportunities for technological leapfrogging
It is an advantage of the socialist system to concentrate on major tasks. With the rapid development of high technology, our country can concentrate the whole country's efforts to achieve technological leapfrogging in some fields with the policy of "doing something, not doing something", and thus bring about the leapfrogging of economic development. From the comprehensive analysis, China has the possibility of technological leapfrogging in the fields of information technology and nanotechnology The development of high technology provides an opportunity to narrow the gap between science and technology With the rapid development of high technology, the level of science and technology in the world will be greatly improved, and there will be a phenomenon of correlation and radiation. Through active technology introction, digestion, absorption and innovation, China can quickly narrow the objective gap between science and technology and developed countries, improve its innovation ability, and lay a foundation for economic takeoff and social development in the new century The development of high technology provides an opportunity for China to speed up the instrialization of high technology Under the background of the global competition for the development of high-tech instry, China can deeply explore the operation steps of "developing high technology and realizing instrialization", actively create conditions in all aspects, strengthen the construction of hard environment and soft environment, speed up the process of high-tech instrialization, and constantly add vitality to economic development The development of high technology provides an opportunity for our country to strengthen the ability of scientific and technological innovation Under the stimulation of high-tech international competition and intellectual property constraints, China must strive to improve the ability of scientific and technological innovation to create and apply scientific and technological knowledge, especially to strengthen the original research and development with independent intellectual property rights; Otherwise, it will be at a disadvantage in the future international competition The development of high technology provides opportunities for China to speed up the process of modernization With the rapid development of high technology and the important influence of instry, China can make full use of the impetus of high technology to speed up the transformation of traditional instries, the development of the western region, the process of urbanization, the progress of poverty alleviation, the adjustment of instrial structure and the pace of development Second, challenge:1. The development of high technology makes China face the challenge of development speed
The obvious gap of science and technology between China and developed countries has exerted great pressure on us, and in the new round of international competition, China and developed countries are not on the same starting line. This means that China must always adhere to the guiding ideology of "development is the absolute principle" and develop at a faster speed, otherwise the gap in science and technology may widen, which will lead to a widening gap in development The development of high technology makes our country face the challenge of science and technology innovationthe development of high technology is based on scientific and technological innovation. At present, China's scientific and technological innovation system, environment and ability can not meet the requirements of scientific and technological development, which is ultimately reflected in the lack of original inventions with independent intellectual property rights and international competitiveness
The development of high technology makes our country face the challenge of science and technology security The rapid development of high technology and the gap between science and technology in our country, together with the weak innovation ability of science and technology in our country, make us have to introce the world's advanced technology and trade the market for technology, which may lead to technology dependence and threaten the security of science and technology in our country. According to the patent applications in the late 1990s in China, most of the patents in the high-tech field were applied by foreign countries The development of high technology makes our country face the challenge of ecation The rapid development of high technology puts forward new and higher requirements for China's ecation. Although our country can achieve leapfrogging in some technical fields, it can't in ecation. We need to strengthen quality ecation and create ecational foundation. In particular, we must adapt to the requirements of the high-tech era and increase the content of modern science and technology in ecation The development of high technology makes China face the challenge of science and technology investment High technology has the characteristics of high investment and high added value, only high investment can have high return. Due to the limitation of national strength, China's investment in science and technology has been at a low level in the world for a long time. In terms of the proportion of R & D investment in GDP, China is only 1 / 3-1 / 4 of that of developed countries, which is also lower than that of many developing countries 
extended materials:
the development trend of China's high technology:
1. The rapid development of high technology will greatly deepen human's scientific understanding
The cross integration of different fields of high technology will proce the overall effect that the system is greater than the sum of parts, which will greatly advance the scientific understanding of human beings. Mankind's scientific understanding of the material structure, the origin and evolution of life, the origin and evolution of the earth, the origin and evolution of the universe and other major basic issues will reach an unprecedented new height The rapid development of high technology will promote the development of knowledge economyaccording to the OECD's concept of knowledge economy, the knowledge involved in knowledge economy is all the knowledge created so far by human beings, among which the most important are scientific and technological knowledge, management knowledge and behavioral science knowledge. Whether from the proction and distribution of knowledge, or from the use of knowledge, high-tech and its instries are the important support of knowledge economy, which helps to establish the position of knowledge economy as the leading economic form in the 21st century
The accelerating development of high technology will proce chain reaction of science and technologythe major breakthrough of high technology will greatly promote human's understanding of the unknown world, and also provide an effective means for the self-development of science and technology, so that all disciplines of science and technology are faced with innovation opportunities. The great breakthrough of high technology is bound to have an important impact on the humanities and Social Sciences, especially the urgent demand for sociology, philosophy, ethics, law and so on, so as to stimulate the innovation of Humanities and social sciences
The rapid development of high technology will have an unprecedented impact on the proction of human society As the first proctive force of modern society, high technology has a profound impact on the proction of human society. For example, nanotechnology in the ascendant is a high-tech technology that manipulates atoms and molecules to construct procts with specific functions in the space scale of 0.1-100 nm. Its many uses in social proction are incredible. Scientists believe that the technological revolution brought by nanotechnology will far exceed the impact of electronic technology on human beingsHot content