The latest development of digital currency issuance

1. The Chinese version of CBDC is described as digital RMB, which is issued by the people's Bank of China, operated by designated operators and exchanged to the public. It is based on the generalized account system, supports the loose coupling function of bank accounts, is equivalent to banknotes and coins, and has value characteristics and legal compensation
what we call DC / EP is the Chinese version of the central bank's digital currency, translated as "digital currency and electronic payment instruments"
the center for International Settlements (BIS) and the Committee on payment and market infrastructure (CPMI), two authoritative international organizations, jointly concted two questionnaires on more than 60 central banks in 2018 and 2019. The content of the questionnaire includes the work progress of central banks on digital currency, the motivation of studying digital currency and the possibility of issuing digital currency. 70% of central banks said they are (or will be) involved in the research of digital currency
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2.

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 agenda

however, 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

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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

3. The news that the Central Bank of China will issue digital currency has been reported in authoritative media such as NetEase Finance, Phoenix, Sina and Sohu. This is very big news for the digital currency circle, but the impact on the currency circle is very limited. The price fluctuation of bitcoin and counterfeit currency is small
because the digital currency to be issued by the central bank will be ten years later at the earliest, and the design concepts of this digital currency are different from those of bitcoin, Ruitai, Laite and Weimeng.

4. According to media reports, before the Spring Festival, the blockchain based digital bill trading platform promoted by the people's Bank of China has been successfully tested. 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 become the first central bank to study digital currency and its real application
the central bank's version of digital currency will first be applied to the bill market. The central bank's version of digital currency is different from the traditional digital currency. The central bank's version of digital currency has monetary attributes.

5. Wealth theory is an economic object theory with the earliest age, the longest history and the largest number of holders^ A the economic thought of ancient Greek and Roman scholars. Most economists before neoclassical economics have this kind of object theory
Xenophon, an ancient Greek and Roman thinker, wrote the book "on economy", which studies family wealth and its growth. Mercantilists are more enthusiastic about the study of wealth than their predecessors. Focusing on wealth, they studied the form of wealth (gold and silver), the generation (circulation field) and the way of growth (gold and silver mining and foreign trade)
the research object of classical economists is wealth theory. In his works, William Petty, a British classical economist, takes how to increase the national tax revenue and how to increase the national wealth as the research object. In his (tax theory), he puts forward the famous conclusion that "land is the mother of wealth, while labor is the father of wealth". Adam Smith, the great master of classical economics, wrote on the wealth of Nations & gt; In China, it is to study the nature and causes of national wealth and the way of wealth growth. David Ricardo follows Smith's wealth object theory, but pays special attention to the distribution of wealth. He takes the distribution of wealth as the research object of political economy
in his book introction to political economy (1803), the French economist said that political economics is a science that "clarifies how wealth is proced, distributed and consumed"
based on this, he divided political economy into three parts: proction, distribution and consumption, and established the trichotomy. James Mill in his & lt; In the outline of political economy, the author inherits and develops sayI's three division method and puts forward the object theory of four division method, that is to say, the research object of economics comes down to the general principles of wealth proction, distribution, exchange and consumption.