How does digital currency affect financial system

1.

At present, there are mainly two regulations about virtual currency in China. In 2013, many ministries and commissions issued the notice on prevention of bitcoin risk, giving important tips on bitcoin risk. On September 4, 2017, the central bank and other seven ministries and commissions jointly announced again that the first token issue was an unauthorized illegal financing

According to Zhao, there are various ways to launder money by using digital currency. For example, technical means may be used to transfer funds into the cryptocurrency system, and then deploy various transfer addresses, making it difficult to query its transaction path. In other words, money laundering promoted by technological progress is more and more difficult to be detected and prevented. In addition, it has cross regional characteristics, and the lack of global response mechanism exacerbates this situation

2.

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

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.

4. Digital currency exchange brings a lot of influence to the financial circle, because it is very convenient if there is no cash currency in the future.

5. There are many factors that can affect the price of digital currency, which can be summarized as follows:

1. The factor of investment supply and demand is actually not independent, and investors' demand for digital currency is also affected by various news factors. However, from the price surge of last year, in the absence of obvious policy and other news, The admission of investors and investment institutions will also promote the price growth

2. Policy factors are also important factors affecting the price of digital red packets. In the past, the implementation and formulation of policies in South Korea, Japan, the United States and China have affected the price trend of bitcoin

3. The real financial factors and the instability of the real financial world make the demand for digital assets rise from time to time. For example, the Chinese government's policy adjustment, the brexit of the UK, the setback of the global stock market at the beginning of 2018 and other events all give play to the hedging characteristics of digital currency

4. Technical factors. Although the security of digital currency has been highly respected in its development, several technical crises still occurred in its development history. For example, bitfinex, the largest bitcoin dollar exchange, was attacked by hackers and stole 120000 bitcoin, and bitcoin fell by 25% in the following six trading days

5. Good news and bad news will affect the fluctuation of currency value

6. The market trend will be affected by the actions of the leading enterprises in this field, platforms, digital currencies with large market share, leaders with great influence in the market, etc

besides, choosing a good project can avoid risks to a certain extent. For example, HNB, the next generation of decentralized blockchain economy, is a reliable project. It relies on the real economy, and at the same time uses value exchange to continuously create endogenous value. It uses blockchain to build an economy, so that everyone can participate in it and get returns through labor, instead of relying on currency speculation.

6. 1. Novice and low-grade areas of all races
damorro, twilight forest, wetland, Irvine forest, rotal, barren land, rockmodan, western wilderness, Chiji mountain, tirisfa woodland, Silverpine forest, black coast, mogare, Hillsbrad hills, gray Valley, thousand needle stone forest, bleak land, Shizhuo mountain, Yongge forest, ghost land, Miran Island, Secret blood island
65 tin mine low-grade area
Twilight forest, wetland, st and mud swamp, barren land, thorn Valley, altrank mountains, rockmodan, western wilderness, Chiji mountain, alaxi highland, silver pine forest, black coast, Hillsbrad hills, gray Valley, thousand needle stone forest, desolate land, Shizhuo mountain, ghost land, Secret blood island
Bronze Ingot 1 copper ingot + 1 tin ingot = 2 bronze ingot smelting Bronze Ingot requires mining skills (65)
75 silver mine
barren land, sad swamp, twilight forest, wetland, st swamp, barren land, thorn Valley, otalk mountains, lockmodan, western wilderness, Chiji mountain, alaxi highland, hindland, silver pine forest, black coast, Hillsbrad hills, gray Valley, Filas, Thousand needle stone forest, desolate land, stone claw mountain range, tanalis, land of the ghost, secret blood island
Silver Mine covered with mud
125 iron ore
barren land, sad swamp, twilight forest, wetland, st and mud swamp, thorn Valley, otalk mountain range, Arashi highland, sintland, scorching Canyon, Hillsbrad hills, gray Valley, firas, thousand needle stone forest, desolate land, stone claw mountain range, Tanalis
155 gold mines occur in middle and high-grade areas
barren land, curse land, sad swamp, twilight forest, wetland, st and mud swamp, Isala, West plague land, thorn Valley, otalk mountains, alaxi highland, burning plain, cintland, scorching Canyon, East plague land, Hillsbrad hills, gray Valley, firas, fewood forest, thousand needle stone forest, desolate land, Shizhua mountain range, tanalis, Angolo crater, Dongquan Valley, xilisus
Gold Mine covered with soft mud
ingot 1 iron ingot + 1 coal = 1 ingot smelting ingot requires mining skills (165)
175 there are middle and high grade areas of Mithril vein
barren land, curse land, sad swamp, st mud swamp, Isala, West plague land, thorn Valley, otank mountain range, Alaxi Highlands, burning plains, singland, scorching Canyon, east pestilence, Hillsbrad hills, firas, feywood forest, thousand needle stone forest, bleak land, stone claw mountain range, tanalis, Angolo crater, winter spring valley, silysus
mud covered secret silver mine
230 true silver ore
barren land, curse land, sadness swamp, st swamp, Isala, Pestilence of the west, thorn Valley, altrank mountains, alaxi Highlands, burning plains, cintland, scorching Canyon, pestilence of the East, Filas, feywood forest, thousand needle stone forest, desolate land, Shizhuo mountains, tanalis, Angolo crater, winter spring valley, hilisus
true silver covered by soft mud
230 black iron vein
burning plains, scorching Canyon, Blackstone abyss
250 silver ore veins
curse land, West plague land, burning plain, sintland, scorching Canyon, East plague land, Filas, feywood forest, tanalis, Angolo crater, winter spring valley, sirisus
silver ore covered with soft mud
275 Silver ore of fuser
Isala, West plague land, burning plain, East plague land, Angolo crater, Dongquan Valley, Hellfire Peninsula
fuser silver deposit covered by soft mud
source of black iron ore: Burning Plain, scorching Canyon, Blackstone abyss, heart of molten fire
learn to smelt black iron ingot: learn it in the hall of Seven Sages in Blackstone abyss (the second NPC on the right hand). Materials required: 20 gold ingots, 10 real silver ingots, 2 Ruby; You need the Blackstone abyss key - the dark furnace key (task - the legacy of black iron) to turn on and off. The key is to go through the Blackstone bar and ask the bar owner Prag to buy 6 bottles of black iron wine cups for NPC or complete the task of enchantment NPC<
300-330
mainly mined moxa veins (Hellfire Peninsula, zanga swamp)
330-355
mainly mined moxa veins and refined gold veins (nagland)
355-375
mainly mined moxa veins and refined gold veins (shadow Moon Valley, tyroca forest)

distribution of world of Warcraft ore occurrences

black coast: copper, tin, copper, copper, copper, copper, copper, copper, copper, copper, copper, copper, copper, copper, tin, copper, copper, copper, copper, copper, copper, copper, copper, copper, tin, copper, copper, copper, copper, copper Silver mine
damolo: Copper Mine
lota: Copper Mine
locomodan: copper mine, tin mine
mogaorei: Copper Mine
wetland: copper mine, tin mine, silver mine, iron mine
barren land: copper mine, tin mine, silver mine, iron mine
Irvine forest: Copper Mine
Shizhuo mountain: copper mine, tin mine, silver mine, iron mine, Mitsui
western wilderness: copper mine Tin, silver
ash Valley: copper, tin, silver, iron
chijishan: copper, tin
thousand needle Stone Forest: copper, tin, silver, iron, silver
Twilight forest: copper, tin, iron, gold
desolate place: copper, tin, silver, iron, silver Gold mine
tirisfalin: Copper Mine
st mud swamp: copper mine, tin mine, iron mine, gold mine, silver mine
Yinsong forest: copper mine, tin mine, silver mine
tanalis: Iron Mine, gold mine, silver mine, silver mine
Hillsbrad hills: copper mine, tin mine, silver mine, iron mine
Filas: Iron Mine, gold mine, silver mine, silver mine Selin
altrank Mountains: copper, tin, iron ore, gold, Mithril
Isala: gold, Mithril, true silver, Selin, Fortier silver
arahi highlands: tin, silver, iron ore, Mithril
fewood forest: gold, Mithril, true silver, Selin
thorn Valley: tin, silver, iron ore, gold, Mithril True silver
angoro crater: gold, Mithril, true silver, sehril, fuhril
barren land: silver, iron ore, gold, Mithril, true silver
sirisus: Mithril, true silver, sehril, fuhril
sad swamp: iron, Mithril
Dongquan Valley: gold, Mithril, true silver, sehril, fuhril
scorching Canyon: iron, Mithril, sehril, fuhril Black iron
tedasher: there are no ore spots at present
sintland: silver mine, iron mine, gold mine, secret silver, true silver, Se silver
moonlight woodland: there are no ore spots at present
curse land: gold mine, secret Silver, true silver, Se silver
Burning Plain: gold mine, secret silver, true silver, black iron, Se silver, Fu se silver
West plague land: gold mine, secret silver, true silver, Se silver Fuser silver
East plague land: gold mine, secret silver, true silver, Se silver, fuser Silver