Digital currency clearing

1.

1、 Different definitions:

1. Electronic currency:

refers to the currency paid by electronic means

2. digital currency:

is a virtual currency based on node network and digital encryption algorithm

Electronic currency: Based on computer technology, it can be widely used in the fields of proction, exchange, distribution and consumption. It has many functions such as financial savings, credit and non cash settlement

2. Digital currency:

e to some open algorithms, digital currency has no issuers, so no one or institution can control its issuance; Because the number of algorithm solutions is fixed, the total amount of digital currency is fixed, which fundamentally eliminates the possibility of inflation caused by the overuse of virtual currency; Because the transaction process needs the approval of each node in the network, the transaction process of digital currency is safe enough

Third, the same point:

the circulation mode of e-money and digital money is two-way circulation

extended data

e-money is the virtualization of the value scale of real money and the function of payment means. It is a kind of money without monetary entity. Electronic currency is an invisible currency based on highly developed electronic technology

the value of e-money is transferred from the consumer to the seller through the sales terminal, and then the seller redeems the money. The e-money held by the merchant is sent to the e-money issuer to redeem the money, or to the bank. The bank debits the corresponding amount on its account, and then the bank settles with the issuer through the clearing institution

electronic money can transfer money value directly among the holders. It does not require the intervention of third parties, such as banks. This is also the essential difference between electronic money and traditional cash card and transfer card. p>

2.

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

3. Digital currency trading platforms include bithum, bitmex, okex, coin security, Huo coin, hitbtc, digifinex, ZB, etc

warm tips:
1. The above explanations are for reference only, without any suggestions
2. Before investing, it is recommended that you first understand the risks existing in the project, and clearly understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
response time: October 20, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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4.

Digital currency is a kind of legal tender, which must be issued by the central bank. Both digital gold coin and cryptocurrency belong to digital currency, which is not a network virtual currency, because it is not limited to virtual space, but is often used for real goods and services transactions, such as bitcoin, Wright coin, bitstock, etc. at present, there are thousands of digital currencies issued around the world

extended data:

1. Impact on financial infrastructure

the decentralized mechanism of value exchange based on distributed ledger technology has changed the basic settings of gross and net settlement on which financial market infrastructure depends. The use of distributed ledgers also poses challenges to trading, clearing and settlement, as it promotes the disintermediation of traditional service providers in different markets and infrastructures. These changes may have potential impacts on market infrastructure other than retail payment systems, such as large payment systems, securities settlement systems or trading databases

If digital currency and distributed ledger based technology are widely used, it will bring challenges to the intermediary role of financial system participants, especially banks. As a financial intermediary, banks perform the ties of acting supervisors and supervise borrowers on behalf of depositors. Usually, banks also carry out liquidity and maturity conversion business to realize the financing from depositors to borrowers. If digital currency and distributed ledger are widely used, any subsequent disintermediation may have an impact on savings or credit evaluation mechanisms

5.

With the rapid development of cross-border settlement of digital RMB, digital currency will become more and more convenient in the future

With the development of science and technology, network technology has been applied to many fields. The payment methods of WeChat and Alipay are more and more convenient and convenient. In terms of cross-border settlement, the speed has also achieved rapid progress and development. I believe that in the future development, our RMB payment will appear more technology, bring more convenience to people's lives. In some places, face brushing payment has been realized when paying. When paying, there is no need to enter the password and verification, and the payment is directly made by face, which can be faster when consumers pay the bill{ RRRRR}

the development of science and technology has driven the development of many fields. I believe that with the development of science and technology, our digital RMB will make greater breakthroughs and progress in application, and bring more convenience to people's lives

6.

There is no consistent definition of direct banking in China. In general, direct banking is a way that banks break the traditional counter business and can directly handle business on the Internet in order to attract more users and facilitate the use of customers. Users can handle business through web pages, mobile terminals, etc, Save a lot of waiting time for both sides. The business philosophy of this mode is to develop towards faster and more convenient business processing, which greatly reces the time and energy spent by users in banking business processing. Compared with the traditional banks in the past, direct banks mainly have the advantages of strong network dependence, accurate business procts, low cost, convenient and fast, but the relative strong network dependence is also a major factor hindering the development of direct banks. These characteristics make the transaction process of direct bank very simple, operation time is short, the staff is reced a lot, the use of fixed equipment and original procts is reced a lot, and the cost is greatly reced, which is an innovation for the bank to survive in the increasingly fierce competition

There are four trends in the development of direct banking

Technology enables the development of direct banking. The application of cloud computing, big data, artificial intelligence, blockchain and other new generation information technology will fundamentally change the operation mode of direct banking, improve service efficiency and level, and rece service cost. The specific ways are mainly reflected in the following aspects. One is to further improve user experience and service efficiency by introcing new technologies such as machine learning, virtual reality and biometrics; Second, through cloud computing, distributed architecture and other solutions, reconstruct the infrastructure deployment mode, rece operating costs, and build the ability to serve a large number of customers; The third is to use big data to improve the level of risk control, anti fraud, proct pricing, precision marketing, intelligent investment consulting, etc. In addition, blockchain and other technologies can provide strong support for the new financial transaction mode

In the process of using financial technology, on the one hand, direct banks should grasp the development trend of financial technology, and lay out the field of financial technology by strengthening talent reserve and technology accumulation, and communicating and cooperating with third parties. In the process of continuously enhancing the ability of self-control of core technologies and optimizing and improving the efficiency of the overall science and technology system, we should carry out learning and Research on emerging frontier technologies, apply innovation, cultivate data thinking, establish cooperation mechanisms between internal and external parties, and strengthen mutually beneficial cooperation with frontier high-tech enterprises in big data, cloud computing, artificial intelligence, blockchain, etc, Innovative laboratories such as intelligent risk control and precision marketing can be set up in the form of joint construction, and innovative projects can be researched and implemented to build an intelligent financial technology system with strong cloud computing and big data processing capabilities. On the other hand, it is necessary to build a standardized open business platform, formulate standardized cooperation docking process, build a standardized merchant cooperation platform system integrating docking, joint debugging, testing, online and operation management, quickly and efficiently promote technology docking and financial services standardized output, and use scientific and technological means to improve business capacity

2. The development strategy of platform will become the priority of direct banks in the future. In recent years, platform economy is rising rapidly. Among the top 10 companies with global market value in 2017, platform enterprises occupy as many as six seats, namely apple, Google, Facebook, Amazon, Alibaba and Tencent. Platform economy has become a worldwide trend business model and a new economic development paradigm, which has promoted the major changes in proction and lifestyle, and has increasingly become an important part of social economy

for commercial banks, the rapid development of platform economy has brought both opportunities and challenges. Platform enterprises gather a large number of merchants and customers. Merchants and customers have financial service needs. The platform has financial cross-border cooperation, data commercialization, business compliance and other needs, which puts forward new requirements for the traditional customer acquisition and service mode of commercial banks. The platform has rich resources such as business flow, logistics and capital flow, and is an important customer group of commercial banks

direct banking service platform will become the future trend. Through the construction of financial service intermediary platform, the direct bank realizes the integration of basic procts and services of the bank, interbank, non interbank and other institutions in the proct end, and creates the financial cloud of wealth management, network financing, payment and settlement, big data services. In terms of customer service, it will realize the integration of platform enterprises, small and medium-sized enterprises on the platform, small and medium-sized enterprises on the platform Comprehensive and comprehensive services for consumers on the platform

in the face of different platforms in the fields of consumption, instry and government affairs, the strategies of financial intermediary service platform constructed by banks are also different, which can be built according to three modes

(1) for those related fields that have not yet formed a platform for aggregation and specialization, direct banks can integrate internal and external resources, open up key nodes through self construction, M & A, investment and other forms, and build an in-house financial intermediary service platform to cover the whole scene of subdivided instries. Taking the acquisition of auto home by Ping An Trust in 2016 as an example, auto home, as a domestic auto vertical professional media, will not only obtain strong support from Ping An Group in terms of capital, but also become an important part of building an all-round auto service ecosystem for Ping An group. To build a platform model, it is generally necessary to rely on the resources of the group or parent bank to form a synergy of public and retail business; In addition, banks need to define their own service boundary, avoid large and comprehensive platform, resulting in excessive resource investment, and it is difficult to meet the personalized needs

(2) if a specialized platform has been formed in relevant fields, or the platform has not extended to the financial field e to regulatory requirements, direct banks can export financial procts and services through docking with such platforms

(3) the relevant fields have formed monopolistic resource integrators, and the services have been extended to the financial field, so it is difficult for banks to build their own platform to let the participants settle in. The relatively feasible solution for direct banks is to provide funds and financial services to the platform

3. Service scenario. In the future, direct banking procts will be a standardized proct that can be easily embedded into various financial scenarios. According to the view of a bank's senior financial practitioners, it is financial media. In the future, Internet banking and direct banking will become media tools for a bank to carry out mobile financial transformation. In the Internet dimension space, Internet banking and direct banking will become media tools, As a medium like air, it permeates into various scenes of financial services

4. Independent organizational structure. Most foreign direct banks adopt the independent legal person business model, and China's direct banks will graally develop in the direction of independence. With the official opening of Baixin bank, the first independent legal person direct bank in China, several independent legal person direct banks may be approved. The independent organizational structure of direct bank will have a positive impact on proct innovation, risk isolation from parent bank, mobilization of team enthusiasm, cost accounting, customer management, science and technology development mechanism, etc

In the process of independent corporatization of direct banking, the introction of external strategic investors will become one of the options. Through the introction of strategic investors, the capital strength can be improved. At the same time, through the docking with shareholders' resources, technology, scene, etc., the construction and development ability of direct banking ecology can be rapidly improved, and the coordination and win-win between direct banking and shareholders can be realized

7. Legal digital currency is different from digital currency in issuing mode and supervision mechanism
1. Legal digital currency: in essence, it is still the debt issued by the central bank to the public, which belongs to a form of digital currency. Legal digital currency should be the digital currency with legal status, which is the main body responsible for the issuance of national sovereignty.
2. Digital currency: virtual currency is represented by bitcoin and ether currency, which is not issued by central institutions, It has the characteristics of anonymity. It is not under the existing legislation, so it can not be recognized as money and has no monetary value.

8.

When people still think that digital currency is a joke in the virtual world of the Internet, Mu Changchun, deputy director general of the payment and Settlement Department of the people's Bank of China, said at the third Yichun community forum of CF40 on August 10,

digital currency

Second, to avoid hype before, people criticized the digital currency because it became a grey Swan after being hyped. Wearing the packaging of blockchain applications, digital currencies such as BTC are virtual currencies created on the basis of blockchain applications

Thirdly, we should assiously integrate into the digital currency era from the perspective of improving the availability and the application intention of the masses, the central bank's selling of digital currency adopts a two-tier business framework,

the decision-making adopts a two-tier framework, which is also to make full use of the resources, talents and technical advantages of commercial institutions, promote independent innovation and market competition

the era of digital currency has come, so don't go against the development trend. The use of digital currency is an inevitable trend. In this situation, we should assiously integrate the authenticity of digital currency. Although it is virtual,

is exchanged by commercial institutions for everyone, it is also very missing, which is real gold and silver. At this time, it seems that the new pattern and new trend are very critical. Try to do something that meets the long-term trend opportunities and integrate into the overall upward opportunities of the sales market