RCEP digital currency
Publish: 2021-04-25 01:52:55
1. On the issue of issuing their own digital currency, central banks are always less thunderous. Central banks around the world are considering issuing their own digital currencies to compete with cryptocurrencies such as bitcoin, but they have been unable to do so for a long time
the media's attention to the central bank's digital currency has increased significantly, especially after Zuckerberg testified in Congress on the Libra issue and Christina Lagarde acknowledged the "clear demand" for stable currency at her first media reception as president of the European Central Bank, which seems to have changed the public's view on this matter, Let many people in cryptocurrency community think that cbdcs is in sight<
according to the latest survey report released by the bank for International Settlements, central banks in the past seven years have been investigating this technology and assessing its impact. Of the 63 central banks surveyed, 55 said they were unlikely to issue cbdcs in the next three years, and only one reported that they were "highly likely to issue large-scale cbdcs in the next three to six years."
although the proportion of central banks studying cbdcs is very high, the crux of the problem is that it is mainly theoretical and investigative work. Only five central banks have concted more in-depth research and real project development or experimentation - but that still does not mean that they will necessarily issue cbdcs
through close observation, it is more and more obvious that both Libra recently released by Facebook and the new stable currency assets have had a significant impact on the central bank. Today's situation took hundreds of years to form, but it changed in a few months; Competition, the most terrifying and unfamiliar concept that has never been thought of before and penetrated into the elite society of central banks, is now knocking at the door
it can be said that the solution to the current situation is still unclear. Some people who are familiar with these things even say that they are bluffing. However, in Lagarde's own words, the slow and wait-and-see regulatory approach can no longer meet the needs
1. What is central bank digital currency<
what is the difference between central bank digital currency CBDC and other digital currencies
CBDC is a new form of currency, which is directly issued by the central bank in digital form as legal tender. The current form of legal currency is cash, reserve deposit or balance settlement< There are two main differences between CBDC and other digital currencies (including cryptocurrency and other forms of central bank currency):
1. CBDC has nothing to do with cryptoassets. They're not decentralized, they don't have to be blockchain based, and they're certainly not anonymous, they're not unlicensed, they're not censored< 2. Contrary to the current digital cash, the operation structure of CBDC will be different from other forms of central bank currency. CBDC has more powerful functions. They are programmable, can generate interest, can be cleared in near real time, and have cheaper handling charges and wider openness
when designing CBDC, the speed of central banks is different. Different central banks adopt their own approach. However, in general, there are three problems being explored: whether CBDC should be based on token or account number, whether CBDC should be batch (only open to banks) or retail (open to the public), and whether it should be based on DLT
when CBDC is to be implemented, things will become complicated, and there are many thorny problems to be considered
for example, once CBDC is launched, does it need to cancel cash? Should CBDC carry interest? Should they have face value like cash? Or linked to the total price index? What impact will this have on commercial banks? What about anonymity and privacy? All these questions need to be answered<
2. Motivation for issuing CBDC
in the 2017 staff discussion paper, the Bank of Canada gave six reasons for issuing CBDC in an article entitled "central bank digital currency: motivation and impact":
1. Ensure that the central bank provides sufficient cash to the public, and maintain the seigniorage revenue of the central bank
2, Support non-traditional monetary policy
3. Rece overall risk and improve financial stability
4. Improve payment competitiveness
5. Promote financial inclusiveness
6. Curb criminal activities
looking back at the bank for International Settlements survey we analyzed earlier, payment security and domestic efficiency are selected as the most important motives of the central bank. According to a large number of papers published by the central bank and other large financial institutions, for developed countries, the transformation into a cashless society is the main driving factor, while for developing countries, financial inclusiveness, cost rection and operational efficiency are the main motivation
throughout the rest of the reports and the literature that can be found, the fierce competition brought about by bitcoin and other innovations in the cryptocurrency instry, as well as the clear need for "one step ahead", of course, are not listed as the reasons for issuing CBDC< The advantages and potential risks of CBDC are very low.
if the central bank starts to launch CBDC and succeeds in the end, there are many potential benefits
from a technical point of view, CBDC is much better than the current form of legal currency. They can be tracked better, collect taxes more conveniently, transmit monetary policy better, have better financial inclusiveness, and rece the cost of procing physical currency
the most obvious advantage is that payment is cheaper and faster, whether it is domestic payment or cross-border payment
in addition to the design and implementation problems, a key problem of issuing CBDC is that CBDC may increase the risk of bank operation. However, this only happens when banks promise that their deposits can be converted into CBDC on demand, which is not necessarily the case, according to the Bank of England document
4. Facts on the ground
how far is it from us to see a real CBDC appear in the market? It's hard to estimate, but at present, we can sum up the current situation in one sentence: all talk but no practice
if we put aside the failed digital currencies of Ecuador, Tunisia and Venezuela, we can only do theoretical research, a small amount of experiments, and issue some feasible CBDC issuance announcements supported by the state in the future
the most famous CBDC projects in progress are: e-peso in Uruguay (the project was successfully tested in 2018), DCEP in China, "project Inthanon" in Thailand, e-krona in Sweden (still in the research stage)...
5. The revolution has not yet been successful, and comrades still need to work hard
considering the factors mentioned above, Most of the headlines about CBDC's upcoming release are groundless. All projects scheled to be released this year have been delayed
in fact, there is still a long way to go for the birth of CBDC, and to convince the public, we need more than a statement. Given the current situation, it seems that CBDC and other cryptocurrencies may not affect each other - at least for now.
the media's attention to the central bank's digital currency has increased significantly, especially after Zuckerberg testified in Congress on the Libra issue and Christina Lagarde acknowledged the "clear demand" for stable currency at her first media reception as president of the European Central Bank, which seems to have changed the public's view on this matter, Let many people in cryptocurrency community think that cbdcs is in sight<
according to the latest survey report released by the bank for International Settlements, central banks in the past seven years have been investigating this technology and assessing its impact. Of the 63 central banks surveyed, 55 said they were unlikely to issue cbdcs in the next three years, and only one reported that they were "highly likely to issue large-scale cbdcs in the next three to six years."
although the proportion of central banks studying cbdcs is very high, the crux of the problem is that it is mainly theoretical and investigative work. Only five central banks have concted more in-depth research and real project development or experimentation - but that still does not mean that they will necessarily issue cbdcs
through close observation, it is more and more obvious that both Libra recently released by Facebook and the new stable currency assets have had a significant impact on the central bank. Today's situation took hundreds of years to form, but it changed in a few months; Competition, the most terrifying and unfamiliar concept that has never been thought of before and penetrated into the elite society of central banks, is now knocking at the door
it can be said that the solution to the current situation is still unclear. Some people who are familiar with these things even say that they are bluffing. However, in Lagarde's own words, the slow and wait-and-see regulatory approach can no longer meet the needs
1. What is central bank digital currency<
what is the difference between central bank digital currency CBDC and other digital currencies
CBDC is a new form of currency, which is directly issued by the central bank in digital form as legal tender. The current form of legal currency is cash, reserve deposit or balance settlement< There are two main differences between CBDC and other digital currencies (including cryptocurrency and other forms of central bank currency):
1. CBDC has nothing to do with cryptoassets. They're not decentralized, they don't have to be blockchain based, and they're certainly not anonymous, they're not unlicensed, they're not censored< 2. Contrary to the current digital cash, the operation structure of CBDC will be different from other forms of central bank currency. CBDC has more powerful functions. They are programmable, can generate interest, can be cleared in near real time, and have cheaper handling charges and wider openness
when designing CBDC, the speed of central banks is different. Different central banks adopt their own approach. However, in general, there are three problems being explored: whether CBDC should be based on token or account number, whether CBDC should be batch (only open to banks) or retail (open to the public), and whether it should be based on DLT
when CBDC is to be implemented, things will become complicated, and there are many thorny problems to be considered
for example, once CBDC is launched, does it need to cancel cash? Should CBDC carry interest? Should they have face value like cash? Or linked to the total price index? What impact will this have on commercial banks? What about anonymity and privacy? All these questions need to be answered<
2. Motivation for issuing CBDC
in the 2017 staff discussion paper, the Bank of Canada gave six reasons for issuing CBDC in an article entitled "central bank digital currency: motivation and impact":
1. Ensure that the central bank provides sufficient cash to the public, and maintain the seigniorage revenue of the central bank
2, Support non-traditional monetary policy
3. Rece overall risk and improve financial stability
4. Improve payment competitiveness
5. Promote financial inclusiveness
6. Curb criminal activities
looking back at the bank for International Settlements survey we analyzed earlier, payment security and domestic efficiency are selected as the most important motives of the central bank. According to a large number of papers published by the central bank and other large financial institutions, for developed countries, the transformation into a cashless society is the main driving factor, while for developing countries, financial inclusiveness, cost rection and operational efficiency are the main motivation
throughout the rest of the reports and the literature that can be found, the fierce competition brought about by bitcoin and other innovations in the cryptocurrency instry, as well as the clear need for "one step ahead", of course, are not listed as the reasons for issuing CBDC< The advantages and potential risks of CBDC are very low.
if the central bank starts to launch CBDC and succeeds in the end, there are many potential benefits
from a technical point of view, CBDC is much better than the current form of legal currency. They can be tracked better, collect taxes more conveniently, transmit monetary policy better, have better financial inclusiveness, and rece the cost of procing physical currency
the most obvious advantage is that payment is cheaper and faster, whether it is domestic payment or cross-border payment
in addition to the design and implementation problems, a key problem of issuing CBDC is that CBDC may increase the risk of bank operation. However, this only happens when banks promise that their deposits can be converted into CBDC on demand, which is not necessarily the case, according to the Bank of England document
4. Facts on the ground
how far is it from us to see a real CBDC appear in the market? It's hard to estimate, but at present, we can sum up the current situation in one sentence: all talk but no practice
if we put aside the failed digital currencies of Ecuador, Tunisia and Venezuela, we can only do theoretical research, a small amount of experiments, and issue some feasible CBDC issuance announcements supported by the state in the future
the most famous CBDC projects in progress are: e-peso in Uruguay (the project was successfully tested in 2018), DCEP in China, "project Inthanon" in Thailand, e-krona in Sweden (still in the research stage)...
5. The revolution has not yet been successful, and comrades still need to work hard
considering the factors mentioned above, Most of the headlines about CBDC's upcoming release are groundless. All projects scheled to be released this year have been delayed
in fact, there is still a long way to go for the birth of CBDC, and to convince the public, we need more than a statement. Given the current situation, it seems that CBDC and other cryptocurrencies may not affect each other - at least for now.
2. I've been using the red blade assistant for a long time,
in terms of function, the main line task can be smooth from level 0 to level 100. After level 100, it's a bit stuck. Daily tasks can be completed smoothly and time limited tasks can also be completed. Basically, it can be said that unattended tasks can be completed automatically,
as for whether this game can move bricks, I think it's OK. There's a great demand for blue diamonds, No amount of blue diamonds is enough.
in terms of function, the main line task can be smooth from level 0 to level 100. After level 100, it's a bit stuck. Daily tasks can be completed smoothly and time limited tasks can also be completed. Basically, it can be said that unattended tasks can be completed automatically,
as for whether this game can move bricks, I think it's OK. There's a great demand for blue diamonds, No amount of blue diamonds is enough.
3. About 1 million
4.
Thousands to tens of thousands, even hundreds of thousands, according to your specific needs and choose what kind of development methods to set the price
1. Template development is the most cost-effective way, which is about 3000 yuan. It is very suitable for small white businesses. The development time is fast, and it can be successfully used online in a week
Second, the price of customized development is the most expensive. The development company develops one by one according to your needs, which will take a long time. From a few weeks to a few months, the price is generally 30000, which is suitable for businesses with complex needs and abundant funds5. The value of the micro official website
depends on the page design of the official website
content classification
and later maintenance
according to different instries or functional needs, different effects are made, and the price is different.
the price of private customization
is higher, and the price of using template to find someone to maintain
is more affordable.
depends on the page design of the official website
content classification
and later maintenance
according to different instries or functional needs, different effects are made, and the price is different.
the price of private customization
is higher, and the price of using template to find someone to maintain
is more affordable.
6. This is really not easy to calculate. Now he just wants to explain that the score of words, vocabulary and grammar is 60, that of reading is 60, and that of listening is 60. You may have a look at how many questions there are each time. In the past, it was generally calculated according to the percentage of the correct points. For example, words, vocabulary and grammar is 40 questions, if you are right 20 questions is 30 points.
7. The first part of the text questions: two points for five or six questions, one point for all others, three points for the second question after reading 63 questions, and two points for the first one "because it's difficult at the back, so we should do what's in front, and have a good look at what's behind". The third one is 1 point for listening comprehension, and all others are 2 points
8. Our company has this software for arbitrage investors
if you are a fund investor, you will have the most favorable way to buy and increase your income
the fund in your hand, no matter which agent distribution channel (bank, fund company or securities company) you originally bought, no matter whether you opened the base, sealed the base or lof; ETF, transferred to custody, our securities business department can get one thousandth of the reward (the minimum is 50 yuan). That is to say, no matter where you used to buy, as long as transferred to us, the handling charge must be one thousandth lower than others. This part of the award can also be awarded to the introcer or the operator of institutional investors
if you apply for OTC funds here, the handling fee is the lowest in China
the advantages of transferring open-end funds from banks or fund companies to securities companies are: the time of redemption to account is greatly shortened, and there are arbitrage opportunities. The redemption time varies from t + 5 to t + 7 in bank channels, and below T + 3 in securities companies channels. The arbitrage operation increases the income by about 3% each time. The more the operation, the more the income. The arbitrage income plus the fund income is your total income (for example, the average annual income of a fund is 30%, the average annual income of arbitrage operation is 17%, and the average annual investment income of the two items is 47%, which is far higher than the income level of the Chinese market. It should be noted that e to the fluctuation of the underlying market, the fund return is not positive every year, but the arbitrage return is always positive. Because the trading price and net value of listed funds (mainly lof and ETF) are inconsistent, if there is still room for the price difference after decting the necessary fees, cross market arbitrage can be implemented. In addition, the initial raising, lof raising and daily subscription of some closed-end funds may be implemented in the OTC sales agencies. If the fund shares want to be transferred to the secondary market, it all involves the cross system re custody of the fund. Transferring funds from outside the market to inside the market, or from inside the market to outside the market, is a necessary step for fund Arbitrage (some securities companies can directly implement it inside the market, but because of the high handling charges inside the market, there is generally no arbitrage space). Not all securities companies are qualified to do this business, and not all qualified securities companies are willing to accept this business. Our company warmly welcome all investors to transfer the fund from outside the market to inside trading of our company. Investors in need can contact me to start this business. In order to support investors' arbitrage, our company will give a great discount to the purchase fees of OTC funds (guarantee the cheapest in the country, and there will be awards for transferred fund shares).
if you are a fund investor, you will have the most favorable way to buy and increase your income
the fund in your hand, no matter which agent distribution channel (bank, fund company or securities company) you originally bought, no matter whether you opened the base, sealed the base or lof; ETF, transferred to custody, our securities business department can get one thousandth of the reward (the minimum is 50 yuan). That is to say, no matter where you used to buy, as long as transferred to us, the handling charge must be one thousandth lower than others. This part of the award can also be awarded to the introcer or the operator of institutional investors
if you apply for OTC funds here, the handling fee is the lowest in China
the advantages of transferring open-end funds from banks or fund companies to securities companies are: the time of redemption to account is greatly shortened, and there are arbitrage opportunities. The redemption time varies from t + 5 to t + 7 in bank channels, and below T + 3 in securities companies channels. The arbitrage operation increases the income by about 3% each time. The more the operation, the more the income. The arbitrage income plus the fund income is your total income (for example, the average annual income of a fund is 30%, the average annual income of arbitrage operation is 17%, and the average annual investment income of the two items is 47%, which is far higher than the income level of the Chinese market. It should be noted that e to the fluctuation of the underlying market, the fund return is not positive every year, but the arbitrage return is always positive. Because the trading price and net value of listed funds (mainly lof and ETF) are inconsistent, if there is still room for the price difference after decting the necessary fees, cross market arbitrage can be implemented. In addition, the initial raising, lof raising and daily subscription of some closed-end funds may be implemented in the OTC sales agencies. If the fund shares want to be transferred to the secondary market, it all involves the cross system re custody of the fund. Transferring funds from outside the market to inside the market, or from inside the market to outside the market, is a necessary step for fund Arbitrage (some securities companies can directly implement it inside the market, but because of the high handling charges inside the market, there is generally no arbitrage space). Not all securities companies are qualified to do this business, and not all qualified securities companies are willing to accept this business. Our company warmly welcome all investors to transfer the fund from outside the market to inside trading of our company. Investors in need can contact me to start this business. In order to support investors' arbitrage, our company will give a great discount to the purchase fees of OTC funds (guarantee the cheapest in the country, and there will be awards for transferred fund shares).
9. Some securities companies provide them free of charge, such as Huatai, Yinhe and Changjiang, which are comprehensive trading platforms for the headquarters. They can operate at home
but the market is fleeting, so they can only do delayed arbitrage
the ETF 159903, which has the smallest demand for funds, also needs 310000, so the landlord is really rich
but the market is fleeting, so they can only do delayed arbitrage
the ETF 159903, which has the smallest demand for funds, also needs 310000, so the landlord is really rich
10. Great wisdom, flush can be
the quotation software downloaded from the website of the securities company you open an account with can also be used.
the quotation software downloaded from the website of the securities company you open an account with can also be used.
Hot content