Legal digital currency issued by the central bank in February 20
As of September 2019, the central bank's digital currency has not been issued
the development history of the central bank's digital currency is as follows
in 2014, the Central Bank of China set up a special research team to conct in-depth research on the framework of digital currency issuance and business operation, key technologies of digital currency, issuance and circulation environment, and legal issues faced
in January 2017, the central bank officially established the digital currency Research Institute in Shenzhen
in September 2018, the Institute of digital currency built a trade finance blockchain platform
On July 8, 2019, at the launching ceremony of the digital finance open research program and the first academic seminar, Wang Xin, director of the Research Bureau of the people's Bank of China, disclosed that the State Council has officially approved the research and development of the central bank's digital currency, and the central bank is engaged in corresponding work in organizing market institutionson August 2, 2019, the central bank said at the second half of 2019 work video conference that it would speed up the research and development of legal digital currency
on August 10, 2019, Mu Changchun, deputy director of the payment and Settlement Department of the central bank, said at the Yichun forum of 40 people of China finance that "the central bank's digital currency can be said to be ready"
on August 18, 2019, the CPC Central Committee and the State Council issued their opinions on supporting Shenzhen to build a leading demonstration zone of socialism with Chinese characteristics, which mentioned supporting innovative applications such as digital currency research in Shenzhen
on August 21, 2019, the official micro blog of the people's Bank of China released two articles on digital currency. One is fan Yifei, vice president of the people's Bank of China, who was published in January 2018, talking about some considerations of digital currency of the people's Bank of China. The other is mu Changchun, deputy director of the Department of payment and settlement, who delivered a speech in Yichun on August 10
extended data:
practical significance
the digitalization of central bank's currency helps to optimize the central bank's monetary payment function, improve the central bank's monetary status and the effectiveness of monetary policy. The central bank's digital currency can become an interest bearing asset to meet the holder's reserve demand for safe assets, and can also become the lower limit of bank deposit interest rate
can also become a new monetary policy tool. At the same time, the central bank can affect the bank's deposit and loan interest rate by adjusting the central bank's digital currency interest rate, and help break the zero interest rate lower limit
operation system
fan Yifei, vice governor of the people's Bank of China, said in the article that the digital currency of the people's Bank of China should adopt a two-tier operation system. This model does not change the relationship between creditor's rights and debt of currency in circulation, does not change the existing money supply system and al account structure, does not constitute a competition for commercial banks' deposit currency, and does not increase commercial banks' dependence on the interbank lending market
will not affect the lending ability of commercial banks, and will not lead to the phenomenon of "financial disintermediation". At the same time, because it does not affect the existing monetary policy transmission mechanism, it will not strengthen the pro cyclical effect under the pressure environment, and it can improve the convenience and security of payment, and it also has the credit advantage of central bank endorsement
On November 9, 2019, the central bank has not launched digital currency
in 2014, the Central Bank of China set up a special research team to conct in-depth research on the framework of digital currency issuance and business operation, key technologies of digital currency, issuance and circulation environment, and legal issues
in January 2017, the central bank officially established the digital currency Research Institute in Shenzhen
in September 2018, the Institute of digital currency built a trade finance blockchain platform
On July 8, 2019, at the launching ceremony of the digital finance open research program and the first academic seminar, Wang Xin, director of the Research Bureau of the people's Bank of China, disclosed that the State Council has officially approved the research and development of the central bank's digital currency, and the central bank is engaged in corresponding work in organizing market institutions
extended data:
benefits of digital currency
the digitalization of central bank's currency helps to optimize the central bank's monetary payment function, improve the central bank's monetary status and the effectiveness of monetary policy. The central bank's digital currency can become an interest bearing asset to meet the holder's reserve demand for safe assets, and can also become the lower limit of bank deposit interest rate. It can also become a new monetary policy tool
at the same time, the central bank can affect the bank deposit and loan interest rate by adjusting the digital currency interest rate of the central bank, and help to break the zero interest rate lower limit
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
in February 2017, the central bank made new progress in issuing digital currency. The block chain based digital bill trading platform promoted by the central bank has been tested successfully. The legal digital currency issued by the central bank has been put into trial operation on the platform. After the Spring Festival, the digital currency Research Institute of the central bank will also be officially listed. This means that the people's Bank of China will be the first central bank to issue digital currency and carry out real application in the world
digital gold currency is an electronic currency named after the weight of gold. The typical unit of measurement for this currency is the Troy gram or troy ounces, although sometimes the golden Dinar is used. Digital gold currency is funded by gold storage without quota or decentralized quota. By January 2006, digital gold currency suppliers held more than 8.6 metric tons of gold as reserves, worth about $154 million
current situation
at present, all countries, including China, have not recognized the monetary attribute of bitcoin. Some functions of currency can be realized only in private special occasions
difference from virtual currency
digital currency can be divided into two categories: non cryptocurrency (i.e. digital gold currency, e.g. e-gold, and company issued currency, e.g. XRP) and cryptocurrency (i.e. bitcoin currency)
virtual money originally refers to non real money, but now it refers to money in network virtual economy. In the case of the connection between virtual and reality, virtual currency has its real value. Well known virtual currencies, such as online currency of Internet company, q-coin of Tencent company, q-point, roll counting of Shanda company, u-coin meter ticket launched by Sina (used for igome game), chivalrous Yuanbao (used for chivalrous road game), and grain silver (used for bixue Qingtian game)
however, digital currency does have such a thing. The so-called digital currency refers to the digitization of currency. Ordinary people can generally understand it with virtual currency, such as game currency such as Q currency, but it is not completely equivalent to virtual currency, because it is used for the exchange of actual goods and commodities. But we should pay attention to what Alipay does not mean, Alipay or RMB. Digital currency is a new kind of currency, an official legal tender
this is a bit difficult to understand because it is still under study. So this thing you said must be used to cheat your RMB<
relevant news reports (from the Internet):
in February 2017, the central bank made new progress in issuing digital currency. The block chain based digital bill trading platform promoted by the central bank has been tested successfully. The legal digital currency issued by the central bank has been put into trial operation on the platform. After the Spring Festival, the digital currency Research Institute of the central bank will also be officially listed. This means that the people's Bank of China will be the first central bank to issue digital currency and carry out real application in the world
[. But you have to believe that no pie will go white! If they have some certificates, certificates and so on, I suggest you go to some government departments to consult the authenticity
in a word, digital currency is a brand new thing, and it is inevitable that some people will cheat. At this time, we must consult the relevant government or bank.
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.
in February 2017, the central bank made new progress in issuing digital currency. The block chain based digital bill trading platform promoted by the central bank has been tested successfully. The legal digital currency issued by the central bank has been put into trial operation on the platform. After the Spring Festival, the digital currency Research Institute of the central bank will also be officially listed. This means that the people's Bank of China will be the first central bank to issue digital currency and carry out real application in the world.
The main business of the central bank is as follows:
1. Payment and clearing:
(1) providing account services. In the practice of payment and clearing of central banks in various countries, the central bank generally acts as the intermediary of inter-bank clearing, providing clearing accounts for banks, and realizing inter-bank transfer through the setting and use of clearing accounts
(2) besides providing account services, another important means for the central bank to participate in and organize inter-bank clearing is to operate and manage the important inter-bank payment and clearing system. A stable, effective and trusted payment system is indispensable to the society. The payment system operated by the central bank usually includes account system, communication network and information processing system (3) there are many kinds of private clearing organizations in many countries, and some private clearing systems are still implementing balance clearing. In order to offset the creditor's rights and debts among clearing participants, many clearing organizations are willing to use the balance clearing service provided by the central bank, which transfers the balance position through accounts, The final liquidation can be completed (4) to provide overdraft facilities, the central bank not only manages the whole payment system, but also guarantees the smooth operation of the payment system by providing credit. The large amount payment system is the focus of the central bank to provide credit, especially when the payment instructions processed by the large amount payment system are irreversible and final, the overdraft convenience of the central bank is more important On October 18, 2014, the central bank announced that it would obtain liquidity support through the standing loan facility (SLF), with a total amount of about 200 billion yuan. In addition, the CICC report predicts that the liquidity actually put in by the central bank may be higher than 200 billion yuan, reaching 300-400 billion yuanaccording to the CICC report, the central bank's delivery mode is not SLF, but PSL, which requires banks to provide bond pledge. CICC believes that this once again releases the signal of loose liquidity, especially when the real M2 growth is significantly lower than the policy target
3. Net purchase of gold:
the highest authority of the International Monetary Fund (IMF) is the board of directors, which is composed of one director and one deputy director from each member country, and is generally held by the finance ministers or central bank governors of each country. A meeting is held in September every year
On December 4, 2012, South Korea said that it had reached an agreement with China on allowing banks of the two countries to borrow funds from the existing currency swap arrangement in late December, so as to encourage local currency trade settlement between the two countries. According to a statement jointly issued by the Ministry of Finance and the Bank of Korea (central bank) on the same day, the 360 billion yuan currency swap line between China and South Korea will be obtained in the form of loans to allow trading enterprises of the two countries to settle in Korean won and RMB Mei Xinyu, a researcher at the Research Institute of international trade and economic cooperation of the Ministry of Commerce, who was interviewed by our reporter on December 5, believes that this move will directly help to stabilize the exchange rate of the won against the RMB, and indirectly help to stabilize the exchange rate of the won against the US dollar, because the stability of the RMB against the US dollar is far higher than that of other currencies. He also believes that this will be of great benefit to the internationalization of the won, especially the RMB5. Digital currency:
in February 2017, the block chain based digital bill trading platform promoted by the central bank has been tested successfully, and the legal digital currency issued by the central bank has been put into trial operation on the platform. This means that the people's Bank of China will be the first central bank to issue digital currency and carry out real application in the world
extended data:
the main functions of the central bank:
1. The issuance and circulation of unified currency is the guarantee of the normal and orderly circulation of currency and the stability of currency value. Under the condition of gold standard, the right to issue currency mainly refers to the right to issue bank notes. In order to ensure the reputation of banknotes and the stability of monetary finance, banknotes must be able to be converted into gold coins at any time, and the deposit currency can be successfully converted into banknotes
therefore, the central bank must take the gold reserve as the credit basis to support the issuance and circulation of bank notes, and the quantity of gold reserve becomes the restricting factor of the issuance quantity of bank notes. The stipulated ratio between the amount of bank notes issued and the amount of gold reserves has become the main content of the guarantee system of bank notes issued
After entering the 20th century, the gold standard system disintegrated, and the currency circulation in all countries turned into the cashless paper currency circulation. The dishonoured paper money becomes the national credit currency in the pure sense. In the case of credit currency circulation, the central bank becomes a Monopoly Institution of currency issuance by virtue of state authorization and based on state credit. The central bank issues currency according to the objective needs of economic development and the requirements of currency circulation and management The issue of unified currency is the need for the central bank to adjust the money supply and maintain the stability of currency value according to the economic development in a certain period. The stability of currency value is the basic condition for the healthy operation of social economy. If there are multiple currency issuing banks, the central bank may be unable to adjust the money supply and demand in time because it is difficult to coordinate the issuing banks The issue of unified currency is the basis of the central bank's monetary policy. The issue of unified currency enables the central bank to regulate the amount of basic money in circulation through the control of the amount of money issued, so as to regulate the ability of commercial banks to create credit. Monopolizing the right to issue currency is a necessary condition for the central bank to implement financial macro-control According to the objective needs of national economic development, the central bank should timely issue money, keep the money supply basically consistent with money demand, and create a good financial environment for the stable development of national economy The central bank should control the credit scale and adjust the money supply. The central bank should properly grasp the increment of money supply and deal with the relationship between currency stability and economic growth The central bank should print and destroy the currency, allocate the treasury funds, and adjust the currency distribution and denomination ratio among regions according to the needs of currency circulation In order to ensure the safety of depositors' funds, commercial banks and other deposit institutions are required by law to deposit reserve funds with the central bank according to a certain proportion of deposits, so as to ensure the minimum payment capacity of commercial banks and other financial institutions It is helpful for the central bank to control the credit creation ability of commercial banks, so as to control the money supply To strengthen the capital strength of the central bank, deposit reserve is one of the main capital sources of the central bank To create conditions for non cash clearing between commercial banks