Digital currency issuance scale

1.

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

2. It shows that the total amount of this kind of digital currency is relatively large, and the total amount of many digital currencies is as high as 10 billion. The circulation of some MLM coins is not constant and can be increased or split at will. Moreover, there are many different digital currencies in the world, and the number of each digital currency is very considerable
the well-known digital currencies in the currency circle include bitcoin, Ruitai coin, Laite coin, doggy coin, etc.

3. Chinese digital currency should refer to Chinese currency, the specific amount of this currency is not clear. However, many things of this kind of coin are fabricated, not real. And its related companies are mostly forged. Now the Chinese currency has basically disappeared, it is estimated that it should be dead

is it a reliable currency? Just compare it with the mainstream currencies such as bitcoin, Leyte, decent and ether.

4. At present, these currencies are all classified as MLM currencies in China, so it is not recommended to participate in them.

5. The total amount of money in DCEP is not constant

why

let's take a look at the current definition of DCEP

Digital legal tender

in addition to being different from legal paper money in carrier, it has the same function as paper money: value scale, circulation means, payment means and value storage

this is also the function of paper money

the issuance of DCEP is based on 100% reserve and will circulate with cash currency, that is, M0 issuance

although the central bank's digital currency was slowly launched after the rise of blockchain technology, it is not pure blockchain technology, but only uses some technologies related to blockchain

we all know that the commercial application of block chain technology still faces many problems, such as concurrency, data storage and so on

a country with a large population like ours, if we use blockchain technology in a strict sense, it will not be able to carry it at present<

Wanxiang blockchain analysis:

from the information disclosed by the people's Bank of China, DC / EP does not use the real blockchain like Libra

although digital currency is not a token in the blockchain, it is similar to the token in the blockchain in the key features of non double flower, anonymity, unforgeability, security, transitivity, separability and programmability

therefore, DC / EP still belongs to token paradigm rather than account paradigm

the central bank is responsible for the maintenance of the DC / EP issuance registration subsystem, which is centralized and does not need to run consensus algorithm, so it will not be subject to the performance bottleneck of the blockchain

in DC / EP, blockchain is used to confirm the right registration of digital currency and plays an auxiliary role

each country's base currency issuance is increasing every year

therefore, the central bank's digital currency improves the bearing property of money. Paper money is naturally suitable for the atomic world, and digital currency is more suitable for the consumption scenarios in the bit world

the supply is definitely the same as that of the previous monetary system, increasing every year.

6.

According to Article 224 of the criminal law of the people's Republic of China, whoever lures or coerces participants to continue to develop pyramid selling activities involving others, swindles property or disturbs economic and social order shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined

If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined. Generally speaking, ordinary people who participate in pyramid selling are not dealt with as illegal business operation crime. This crime only deals with leading elements and main members

in the name of marketing goods and providing services, the organization and leaders require the participants to obtain the qualification by paying fees or purchasing goods and services, and form a hierarchy according to a certain order, and directly or indirectly use the number of development personnel as the basis for remuneration or rebate

According to the Seventh Amendment to the criminal law, it should be dealt with as the crime of illegal business operation: those who organize or lead pyramid schemes, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, and shall also be fined

the following personnel can be identified as the organizers and leaders of MLM activities:

(1) personnel who play the role of initiation, planning and manipulation in MLM activities

(2) personnel who are responsible for management and coordination in MLM activities

(3) the personnel who are responsible for propaganda and training in MLM activities

(4) those who have received criminal punishment for organizing or leading pyramid selling activities, or administrative punishment for organizing or leading pyramid selling activities within one year, and who have directly or indirectly developed pyramid selling activities with more than 15 participants and at least three levels

(5) other personnel who play a key role in the implementation of MLM activities, the establishment and expansion of MLM organizations

if the crime of organizing and leading pyramid selling activities is committed in the name of the unit, the personnel appointed by the unit who are only engaged in labor work will not be investigated for criminal responsibility