The realization of digital currency of central bank

1.

The digital currency of the central bank is DCEP

the name of the digital currency developed by the central bank is DCEP (digital currency electronic payment). DC is digital currency. EP is electronic payment. Payment transmits digital things through a certain way, not paper currency. Therefore, electronic payment itself has the attribute of digital currency

The characteristics of digital currency are: low transaction cost; Fast trading speed; Highly anonymous

extended data

Application of digital currency

I. fast, economic and safe payment and settlement

cross border payment helps RMB internationalization. In 2015, the settlement volume of cross-border payment involving current account is about 8 trillion yuan. To accelerate the internationalization of RMB, cross-border payment and settlement procts and solutions with low cost, high efficiency and low risk are needed

At present, there are still a lot of repetitive human work in the bank's electronic loan process and processing process, and as the basic support of loan issuance, many of the collateral has the situation of false pricing or multiple or even no collateral. We can consider using digital currency to price and track bank collateral:

3. Bill finance and supply chain finance

in recent years, various bill market businesses based on commercial bills have grown rapidly, and bill financing procts have become a hot area of Internet financing. However, about 70% of the current bill businesses in China are still paper transactions, Supply chain finance is also highly dependent on labor costs

reference materials

network digital currency

2. It is very clear in the speech of the central bank that the digital currency is M0. What is M0? M0 is cash. We speculate that the basic framework for the central bank to issue digital currency in the future should be a two-tier structure. The core is the database of the central bank, and the periphery is the blockchain of different instries, regions and third parties. Why? Only by using a decentralized system in the second layer can you ensure that the money is controlled by the users themselves and that the digital currency really becomes M0

we speculate that once the central bank issues digital currency in the future, the periphery of the structure must be a decentralized system. At present, blockchain is the best choice

when talking about digital currency, the central bank also mentioned another concept, which is called programmable currency. How to understand? For the computer, it has a certain internal self-control function. Take the early object-oriented language as an example, it requires at least two functions, one is the constructor, the other is the destructor. You have to solve the problem of its creation as well as its extinction

through programming, the central bank can control the whole life cycle of money creation, circulation and withdrawal

in the absence of digital currency and programmable currency, the currency issued by the central bank circulates freely in the society. How to return to the cage in the end? One is the return of derivative currency of commercial banks, the other is the return of basic currency of central bank. The former is controlled by the central bank through deposit reserve and other policies, while the latter is controlled by the tax system. If we go up to programmable digital currency in the future, the central bank will have much more control. Even in circulation, control can be increased. That's why central banks are very interested in blockchain technology.

3. The specific time has not been determined, but it has been concerned for three years
more than three years ago, the people's Bank of China started to organize a seminar on digital currency, and then set up the digital currency Research Institute of the central bank. The latest action is to jointly organize distributed R & D with the instry and cooperate with the market

the name of R & D used by the central bank is DCEP, which is actually electronic payment. What is paid is digital, not paper money. Digital money also has monetary attributes. The study of digital currency is not to realize the application of a certain technical solution, but to pursue the convenience and low cost of retail payment system, as well as security and privacy protection
the digital currencies of bitcoin, wikilink and Ethereum provide some reference for the digital currencies issued by the central bank, especially blockchain.

4. The issue of digital currency has many benefits and is imperative. According to the central bank, digital money and paper money will coexist for a long time to come. When people go to the bank to withdraw money, they can not only withdraw cash directly, but also exchange it into digital currency. In Xiaobian's opinion, the establishment and issuance of digital currency system can not only make people's transactions more convenient and safe, but also graally weaken the proportion of paper money in the real circulation, which will also have a positive impact on the electronic disk of postal money card
when people are used to digital currency, paper money will graally withdraw from the circulation market and enter the collection field. In the new environment of payment and circulation, the traditional paper money will become a symbol of an era and a memory of people. The paper money that used to circulate in the market will also become a kind of cultural and artistic investment goods, active on the electronic disk of the post money card. And those earlier and even rarer coins will also stimulate their prices to rise in this situation. It can be seen that the central bank's graal promotion of digital currency will have a profound impact on people's living habits and investment and financial management, which is worth looking forward to Sohu)
however, digital currency does not have to be used for payment. Some domestic application-oriented digital currencies have begun to find another shortcut and come out with a different truth. For example, coin Ying China crowdfunding project token; Puyin group launched the tea based digital currency Puyin.

5.

On October 8, Shenzhen Municipal People's government and the people's Bank of China jointly launched a pilot project of digital RMB red envelope

after the news was sent out, it has aroused warm repercussions from all walks of life across the country. At this stage, people are most concerned about the impact of digital RMB on our daily life? Will it replace Alipay and WeChat? Due to the lack of introction and promotion of digital RMB by authoritative institutions, the citizens and businesses participating in the activities also have many questions about digital RMB. According to the official announcement, the red envelope activity of digital RMB is a routine test in the process of digital RMB research and development. It can be seen that there is still a certain distance from the official implementation of digital RMB