What should banks do after issuing digital currency
Fourth, in terms of financial services, it mainly refers to various intermediary businesses such as collection and payment, consulting and so on. For example, the collection of water, electricity and coal is small and the number of users is huge. These companies will still entrust the bank to collect, and they still need to open an account in the bank, so the impact of digital currency issuance on financial services is small. Fifthly, the function of credit creation mainly refers to that the loan is re deposited in the bank, waiting for investment or use, resulting in derivative deposits and currency multiplier effect, which has nothing to do with the issue of digital currency
the issuance of digital currency will not rece the number of bank outlets, because the basic function of the bank is far from the payment intermediary function, as well as macroeconomic regulation, the development of deposit and loan business, as well as financial services, intermediary business, and so on. What's more, many people still insist on using cash to pay and transfer. Therefore, the issue of digital currency can not eliminate the outlets of banks. The real impact on bank outlets is the rise of Internet finance. Banking business moves from offline to online. People generally accept using mobile banking app to deal with business, and then the physical outlets of banks will be canceled
It is not currently available
at present, the Central Bank of China has not issued and approved the digital currency of issuers and investors
However, at the beginning of the year, the central bank held a seminar on digital currency, at which it made it clear that it was necessary to issue digital currency as soon as possible, and the central bank put the issue of digital currency on the agendahowever, so far, the central bank has not issued any digital currency, and Zhou Xiaochuan, the governor of the central bank, said that the time is not ripe to issue digital currency. Moreover, the digital currency issued by the central bank is different from bitcoin, Ruitai, Laite and other digital cryptocurrencies, and the digital currency issued by the central bank is not decentralized
when the central bank issues digital currency, it needs to establish a basic digital currency system. In this system, the central bank is in charge of the digital currency issuing bank, the commercial bank is in charge of the bank, and the public and indivials hold digital wallets. This is not much different from the existing monetary system in essence, but the managed currency is changed from paper money to digital cryptocurrency
in terms of issuing mechanism, there are two modes:
one is the traditional mode of "central bank commercial bank", that is, the central bank issues digital currency from the issuing bank of the central bank to the Bank of the commercial bank. When an indivial withdraws money from the commercial bank, the digital currency is transferred from the commercial bank to the personal digital wallet
another mode is the "central bank public" mode, that is, the central bank can directly issue digital currency from the currency issuing bank to the digital wallet of the public and indivials. In essence, no matter which issuing mode, money is ultimately held by the public, which is the debt of the central bank to the public
Recently, the central bank has made new progress in issuing digital currency. It is understood that the blockchain based digital bill trading platform promoted by the central bank has been successfully tested, the legal digital currency issued by the central bank has been put into trial operation on the platform, and the digital currency Research Institute of the central bank will be officially listed after the Spring Festival. 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
on January 7, 2014, Taobao announced that it would ban the sale of Internet virtual currencies such as bitcoin and lightcoin from January 14. On February 26, 2014, Democratic Senator Joe Manchin of West Virginia issued an open letter to a number of regulatory authorities of the US federal government, hoping that relevant institutions would pay attention to the current situation of bitcoin encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency. On January 11, 2017), the Shanghai headquarters of the people's Bank of China and the Shanghai Municipal Finance Office carried out on-site inspection of bitcoin China, focusing on whether the enterprise carried out credit, payment, exchange and other related businesses without permission or license; Implementation of anti money laundering system; Fund security risks, etc. On January 12, 2017, the business management department of the people's Bank of China also entered the trading platforms such as "fire coin net" and "currency bank" in Beijing
on May 12, 2017, a global outbreak of bitcoin virus madly attacked public and commercial systems! Nearly 74 countries in the world have been seriously attacked
from August 1, 2017, global bitcoin trading platform will suspend recharge and withdrawal services. Bitcoin China digital asset trading platform will stop new user registration on September 14, and all trading businesses will be stopped on September 30.
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In terms of financial services, it mainly refers to all kinds of intermediary business such as collection and payment, consulting and so on. For example, water and electricity charges are collected on behalf of a large number of users with a small amount. These companies will still entrust banks to collect them, and they still need to open an account in the bank, so the impact of digital currency issuance on financial services is small. However, it is undeniable that the issuance of digital currency will definitely bring impact on the traditional business of banks, especially the cash business and payment and settlement business, which will force the banks to make the transformation of business model. However, this crisis has been highlighted as early as the launch of Alipay WeChat. Alipay's balance and the change in WeChat's red packets are actually the rapid development of electronic money, non cash payment, and the cash and settlement business of banks has declined. However, it still has no direct impact on bank outlets. Similarly, mobile banking and online banking are already very convenient. Why do people go to banks? Because some people can't operate, and some businesses can't be handled on mobile banking and online banking. Therefore, it can be said that only when big data, artificial intelligence and cloud computing are widely used in financial technology, the continuous improvement of citizens' quality, and the full migration of offline business to online business, will the physical outlets of banks be cancelled< br />
at present, the national legal digital currency is only tested in a small range, and has not been officially used
digital currency is the same as paper RMB, which has the same legal effect. Even if it is widely used in the future, it will not affect the existing financial business, and the fixed deposit will not be affected.