Central bank digital currency backed by 5000 tons of gold

1. digital currency is an alternative currency in the form of electronic currency. It is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of a specific virtual community. It is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currencies, such as bitcoin, lightcoin and ppcoin, are electronic currencies created, issued and circulated by means of check sum cryptography
definition of currency
digital gold currency is a form of electronic currency named after the weight of gold. The typical unit of measurement for this currency is the Troy gram or troy ounces, although sometimes the golden Dinar is used. Digital gold currency is funded by gold storage without quota or decentralized quota. By January 2006, digital gold currency suppliers held more than 8.6 metric tons of gold as reserves, worth about $154 million

future trend
in November 2016, the central bank prepared digital currency, and it is likely that cash will not exist in ten years

in November 2016, China digital currency Research Institute was established to cultivate high-level talents of digital currency, carry out digital currency research, consultation, development planning and related activities. It is a non-profit unit with legal license approved by relevant ministries and commissions, and is committed to promoting the integrated development of scientific research and practice of digital currency instry

up to now, Hangzhou, Shenzhen and Guizhou have become three hot areas for the central bank's digital currency pilot. It is reported that Hangzhou is actively promoting the planning and construction of Qiantang River financial harbor, including the blockchain instry. Hangzhou will build the first blockchain Instrial Park in China, which is located in the Internet Finance town of Xihu District, surrounded by ant financial services, e-commerce bank, Zhejiang University and its science and Technology Park and other well-known enterprises and parks

in February 2020, digital currency was selected by MIT Technology Review as one of the top ten breakthrough technologies in the world in 2020

2. No, China doesn't have so much gold. It is endorsed by national sovereign credit.

3. Can gold digital currency be invested? I think gold, digital currency, can be invested. For many years, gold has been increasing in value. So I think we can invest.

4.

Generally, the excellent digital currencies are mostly imported procts, such as bitcoin, Leyte coin, ether coin and so on. However, the domestic Yuanbao coin, Ruitai coin, bitcoin and the tokens of different crowdfunding projects of European crowdfunding are excellent digital currencies

< H2 > development materials

digital currency (English: digital currency) is an alternative currency in the form of electronic currency. At present, no central bank of any government has indicated that it will issue digital currency, and digital currency does not have to have a benchmark currency and a central bank

it is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currency, such as bitcoin, lightcoin and ppcoin, is an electronic currency created, issued and circulated by check sum cryptography

5. Far away is king, can the sky drop pie? Can it be your turn when pie falls from the sky?

6.

The functions of the central bank are as follows:

1. The function of issuing bank: it means that the central bank monopolizes the currency issuing power and is the only authorized currency issuing institution of a country or a monetary union. The central bank should print and destroy the currency, allocate the treasury funds, and adjust the currency distribution and denomination ratio among regions according to the needs of currency circulation

Banking functions of banks: the central bank acts as the lender of last resort of commercial banks and other financial institutions. The function of bank reflects that the central bank is a special financial institution, which is the basic condition for the central bank to be the core of the financial system. Through this function, the central bank exerts influence on the activities of commercial banks and other financial institutions to achieve the purpose of macroeconomic regulation and control

The banking function of the government refers to the central bank providing services for the government, which is the specialized agency for the government to manage the national finance. The state revenue and expenditure generally does not set up another organization to handle specific business, but is entrusted to the central bank, which mainly includes collecting treasury funds, allocating fiscal expenditure and reflecting the implementation of budget revenue and expenditure to the financial department according to the requirements of the state budget

Regulatory function: to formulate relevant financial policies and regulations as the criteria for financial activities and the basis and means for the central bank to supervise. According to law, we should make overall plans for the establishment of various financial institutions, examine and approve the establishment, business scope and other important matters of commercial banks and other financial institutions. To supervise the business activities of commercial banks and other financial institutions

Regulatory function: the central bank, as the national monetary policy maker and executor, regulates and controls the national monetary and credit activities purposefully and purposefully through financial means, so as to influence the national macro-economy, promote the healthy development of the national economy and achieve its expected monetary policy objectives

extended information:

the objects of the central bank's supervision function are commercial banks and other financial institutions. In addition, the central bank also needs to supervise and manage the setting, business activities and operation mechanism of the financial market. With the acceleration of the nationalization process of the central bank, the central bank is responsible for the state. The banking laws of many countries clearly stipulate the identity of the central bank as the government agent, thus realizing the transformation from the central bank to the government bank

In the middle of the 20th century, the central bank did not compete with ordinary commercial banks for interests, exercised the function of managing ordinary banks and became the central institution of the financial system, which marked its transformation into a bank of banks. The central bank's monetary policy is inseparable from the overall goal of a country's economic development. In the specific application, it greatly strengthens and pays attention to its comprehensive function, that is, from the past general application to the comprehensive matching application

7.

It can not be said to be a fraud, but there are certain risks, because digital gold currency is a form of physical currency, and its deposits are measured in gold rather than legal currency. Therefore, the purchasing power fluctuation of digital gold currency is related to the gold price. If the price of gold goes up, it becomes more valuable. If the price of gold goes down, it loses value

since there is no specific financial regulation to regulate digital gold money suppliers, they operate in a self-regulation way. Digital gold money suppliers are not banks, so banking regulations are not applicable

extended data

to explore the connotation of digital currency, we must clarify some concepts of model lake. For example, is it legal digital currency dominated by the central bank or illegal private fixed digital currency; Encryption of digital currency or electronic currency; Is it "selling dog meat with sheep's head"; "Bad money"

new technology does make the conceptual boundary of money more blurred. Theoretically speaking, the new monetary economics points out the possibility of the disappearance of money, that is, legal paper money is no longer the only medium of transaction, and is eventually replaced by financial assets issued by the private sector that generate monetary income

in reality, although the status of fiat money is still unshakable, there have been various local scenes of private money in history, such as the universal warra system in Germany in the 1920s. Now the digital currency with the characteristics of decentralization makes the challenge of private currency increasingly prominent< br />

8. If there is no gold as the backing for the printing of banknotes, then banknotes are rampant. That means inflation and devaluation of banknotes must be controlled. Gold is the best contract proct. The rarity of gold makes it very precious, and the stability of gold makes it easy to preserve. Therefore, gold has not only become the material wealth of mankind, Moreover, it has become an important means for human beings to store wealth, so gold is particularly favored by human beings
Marx said: "money is gold and silver naturally, and gold and silver are not money naturally." Just as gold played the monetary function before the gold standard system, the non monetization of gold at the institutional level does not mean that gold has completely lost its monetary function:
- gold is no longer used in foreign trade settlement, but gold is still an acceptable settlement method for both sides of the trade when the final balance of payments is made
- the non monetization of gold does not stipulate the whereabouts of the huge gold reserves of various countries. Even the International Monetary Fund, which holds high the banner of non monetization of gold, only stipulates to dispose of one sixth of the gold reserves, while retaining most of the gold reserves, obviously leaving a tail of monetary gold for itself
- the euro monetary system, which came into being in the late 1990s, clearly states that gold accounts for 15% of the monetary reserves of the system. This is the return of gold monetization
- gold is still the fifth most acceptable international settlement currency after US dollar, euro, British pound and Japanese yen. Keynes, the great economist, revealed the secret of monetary gold. He pointed out: "gold plays an important role in our system. It serves as the last guard and a reserve for emergency needs, and nothing else can replace it. " Now gold can be regarded as a quasi currency

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