When will digital currency be fully implemented
the DCEP issued by the central bank is a digital currency, which is very similar to Alipay and WeChat payment. But it is different from Alipay and WeChat, because it is more like paper money, and the third party can not get the information from both sides of the transaction. It is anonymous and centralization, and the endorsement of the state can be assured.
what is the use of central bank digital currency
from the perspective of the central bank, if the central bank wants to put in funds, it doesn't need these scientific and technological means to trigger conditions, and it could have done it
for users, they have one more option when paying. Users only need to download the central bank's digital currency wallet app, and then associate with their existing bank accounts to exchange the previous banknotes into the corresponding digital currency
for the current mobile payment, users are still accustomed to using Alipay and WeChat to pay. But how to say? Personally, Alipay was originally a professional payment software, but after all these years of development, the Alipay interface is extremely complex, and the user experience is not very friendly.
as for wechat payment, wechat started from social networking at first, and has evolved from professional social software to comprehensive software in recent years. To put it plainly, whether it is Alipay or WeChat, it seems that it has deviated from its original intention. This may bring opportunities to the central bank's digital currency
when will central bank digital currency become popular
according to the bank, considering that the early digital RMB is only limited to the pilot, it will not be issued in large quantities and promoted comprehensively in the short term, and the speed of currency circulation will also maintain a normal level
many people say that digital money has no effect on Alipay. I beg to differ. As Ma Yun said, sometimes it's just a document that beats you. What is the impact of the central bank's digital currency on Alipay? Let's wait and see.
China's digital currency pilot project has begun to be in a leading position in the world. This achievement shows that China's digital currency is beginning to develop continuously, and the scale is also expanding. More and more instries begin to feel the convenience it brings us through digital currency. I believe that as long as we maintain this trend well, in the next ten years, China's digital currency will be fully popularized in China, reaching a more advanced, safer and more comprehensive level{ RRRRR}
at present, China's digital currency is becoming more and more convenient and safe because of the participation of each of us. What we use digital currency brings us is the security of our property. Everyone of us should believe that in the next few years, our digital currency will be popularized and developed in an all-round way
As of November 11, 2020, China's e-money system is under development
in August 2019, the relevant person in charge of the people's Bank of China said in public that the development of digital currency system is under way and the "digital RMB era" is coming
Wang Xin, director of Central Bank Research Bureau and monetary gold and silver Bureau, said that the central bank's digital currency mainly substitutes cash to a certain extent in China, which will help optimize the central bank's monetary payment function and improve the central bank's monetary status and the effectiveness of monetary policy
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nowadays, China is still in the stage of accelerating the research and development of digital currency. For example, the central bank held a working video conference in the second half of 2019 on August 2, calling for "accelerating the pace of research and development of China's legal digital currency"
and the opinions of the CPC Central Committee and the State Council on supporting Shenzhen to build a leading demonstration zone of socialism with Chinese characteristics issued in August 2019 clearly stated that "We support the development of innovative applications such as digital currency research and mobile payment in Shenzhen"
it is understood that in the future, the central bank will not issue digital currency directly to the public, but will adopt a two-tier operation system, that is, the central bank will first convert the digital currency to banks or other operating institutions, and then these institutions will convert it to the public. In the early stage, the central bank's legal digital currency may pilot in some scenarios, and then further promote it when it is more mature. For the sake of safety, it will do a good job in the design of pilot exit mechanism
A few days ago, some media reported that in the future, once the legal digital currency really runs, the application scenarios will penetrate into all aspects of social life, but its real launch will take time
At the same time, the issuance of legal digital currency will greatly increase the number of point-to-point transactions, bypassing the original regulatory system to a certain extent, which is easy to facilitate illegal transactions. As digital currency makes it very convenient to convert deposits into cash, financial panic and financial risk will accelerate the spread once they occur, which increases the difficulty of supervision In addition, in the process of using legal digital currency, a large number of user data and transaction information will be obtained. How to store and manage these data to prevent the disclosure and illegal use of user information is also an important challenge. No matter from the perspective of technology or security, it is difficult to have a great impact on monetary policy and payment mode in the short termArticle source: bit110 network
Digital currency has been issued in some cities in China, but it will take some years for it to be popularized{ RRRRR}
3. It takes a while for digital currency to be popularized in an all-round waydigital currency is to turn paper money into a number that people can see on the Internet, which is more convenient for people to operate as long as we use the mobile phone in our daily life, we can complete a series of commodity transactions without using the Internet. At that time, it will be the real realization of a mobile phone that can travel all over the world
with the development of Internet technology and the profound changes of global payment methods, digital currency with higher operation efficiency and stronger economic adaptability is becoming a new trend of currency development in the future
in this trend, central banks and financial institutions around the world are concting research on currency digitization and related technologies. At the "fintech summit in Shenzhen, China" hosted by Shenzhen Municipal Government on December 20, more than 40 units, including Ping An Group, Weizhong bank and Dacheng Fund, announced that they would jointly initiate the preparation for the establishment of China's Shenzhen fintech digital currency alliance, and cooperate with the central bank and other financial regulatory departments to study and formulate digital currency instry standards and relevant institutional mechanisms
currency digitization is the general trend
in a global science and technology innovation survey released by KPMG, digital currency, 3D printing, Internet of things and biotechnology are listed as the most promising technologies in the next three years. At present, many countries in the world are promoting the research of currency digitization
at the beginning of this year, the Bank of England announced a new research report that the combination of digital currency and mobile technology may completely change the shopping habits of British people, and the Bank of England is considering using this technology to release official digital currency. Sweden's central bank is considering issuing its own digital currency, ekrona, in response to a sharp decline in the country's cash use
in 2014, the Central Bank of China set up a special research group to demonstrate the feasibility of issuing legal digital currency. At the beginning of this year, the central bank held a seminar on digital currency to further clarify the strategic objectives of the central bank in issuing digital currency. In November, the 2017 annual personnel recruitment plan of the printing Science Research Institute, a unit directly under the central bank's official website, showed that six professionals with master's or doctor's degrees would be recruited for digital currency research and development< In an interview with the media a few days ago, Yao / > deputy director of the science and Technology Department of the central bank and head of the preparatory group of the digital currency Research Institute, said that the prototype scheme for the central bank to issue legal digital currency has completed two rounds of revision, and is expected to be tested in relatively closed application scenarios such as the bill market in the future, but there is no clear timetable for the launch of legal digital currency in China<
Third Party Payment institutions may disappear
at the first "China Shenzhen fintech (Financial Technology) summit" held on December 20, the reporter of daily economic news learned that, under the guidance of Shenzhen municipal government, Ping An Group, China Merchants Bank, Weizhong bank More than 40 units, including Dacheng Fund, will jointly initiate the preparation for the establishment of China's Shenzhen fintech digital currency union and fintech Research Institute
according to Yao Yudong, chief economist of Dacheng Fund, the alliance will cooperate with the central bank and other financial regulatory departments to study and formulate the digital currency instry standards and mechanisms. The Research Institute will comprehensively carry out the research on fintech infrastructure and innovative business, and explore and promote the application of big data, cloud computing, artificial intelligence blockchain and other technologies
as one of the sponsors of the alliance, Li Lin, founder and chairman of fire coin, pointed out that when it comes to digital currency, it should be made clear that there is an essential difference between the digitization of legal currency and digital currency. The essence of encrypted digital currency represented by bitcoin is a standardized digital asset. However, because the digitization of legal currency may choose to use the underlying technology of encrypted digital currency blockchain as one of the core implementation technologies, there is a close relationship between the two
Li Lin said that blockchain has outstanding technical advantages in security attributes such as non repeatable transaction, non forgery and non tampering. Digital currency represented by bitcoin has the characteristics of disintermediation, openness, transparency and traceability, which will have a profound impact on the future circulation of sovereign digital currency
"in the global cryptocurrency operation and circulation system, there is a unified and open protocol, and different institutions follow the standard protocol, which provides the basis for the cross platform circulation of currency accounts. There is no need for third-party payment companies to provide services to connect with different banks. " Li Lin gave an example. In his view, in the future, if the sovereign digital currency uses the unified and open blockchain agreement or other agreements, and only provides technical services of cross bank agreement, the third-party payment company will disappear
at the same time, Li Lin pointed out that the structural system of encrypted digital currency under the decentralized structure has brought great problems to government supervision, so there will be some changes in the sovereign digital currency system. For example, anonymity is controllable anonymity, unlike complete anonymity in the bitcoin network.
the DCEP issued by the central bank is a digital currency, which is very similar to Alipay and WeChat payment. But it is different from Alipay and WeChat, because it is more like paper money, and the third party can not get the information from both sides of the transaction. It is anonymous and centralization, and the endorsement of the state can be assured.
what is the use of central bank digital currency
from the perspective of the central bank, if the central bank wants to put in funds, it doesn't need these scientific and technological means to trigger conditions at all, it could have done it
for users, they have one more option when paying. Users only need to download the central bank's digital currency wallet app, and then associate with their existing bank accounts to exchange the previous banknotes into the corresponding digital currency
for the current mobile payment, users are still accustomed to using Alipay and WeChat to pay. But how to say? Personally, Alipay was originally a professional payment software, but after all these years of development, the Alipay interface is extremely complex, and the user experience is not very friendly.
as for wechat payment, wechat started from social networking at first, and has evolved from professional social software to comprehensive software in recent years. To put it plainly, whether it is Alipay or WeChat, it seems that it has deviated from its original intention. This may bring opportunities to the central bank's digital currency
when will central bank digital currency become popular
according to the bank, considering that the early digital RMB is only limited to the pilot, it will not be issued in large quantities and promoted comprehensively in the short term, and the speed of currency circulation will also maintain a normal level
many people say that digital money has no effect on Alipay. I beg to differ. As Ma Yun said, sometimes it's just a document that beats you. What is the impact of the central bank's digital currency on Alipay? Let's wait and see.