The influence of virtual currency on the function of central ban

1. The Chinese currency can not attract the attention of the central bank. Its influence is too small. If it attracts the attention of the central bank, it is certain to ban it. This kind of currency is direct selling currency without any physical support and application scenarios. There are many such currencies in China. Most players who don't know much about digital currency can make money. This kind of coin can only survive for about three months to six months
bitcoin, Ruitai coin, Laite coin and Qianjin card are only high-risk and high-yield investment procts in China. There is no such thing as "only rising but not falling" in the digital currency circle. If there is, it must be a pyramid scheme or artificial control.

2. At the Boao Forum for Asia held in April this year, Zhou Xiaochuan, governor of the central bank, said that since digital currency is not the currency initiated and approved by the central bank, it is impossible to ban it. Digital currency belongs to digital assets, which can be freely traded between indivials. Therefore, digital currency is not MLM, not capital disk, but a kind of financial investment

3. The main purposes are as follows:

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4. Protect the property rights and interests of the public, protect the legal tender status of RMB, prevent the risk of money laundering and maintain financial stability
5. Avoid excessive speculation in the name of "virtual currency" for virtual commodities such as bitcoin, which will damage the public interest and the legal tender status of RMB.

4.

The influence of virtual currency on the function of central bank

[tutor] Xing Tiancai

[basic information of the author] Northeast University of Finance and economics, finance, 2010, master

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5.

Hangzhou AISI blockchain Technology Co., Ltd. is a limited liability company (invested or controlled by natural person) registered in Jianggan District, Hangzhou City, Zhejiang Province on June 12, 2018, with its registered address at room 1424, Ding business building, No. 122, Yuzhang Road, Jianqiao street, Jianggan District, Hangzhou City, Zhejiang Province

the unified social credit code / registration number of Hangzhou AISI blockchain Technology Co., Ltd. is 91330104ma2cceqy9n, and the enterprise legal person is Fang xuchu

Hangzhou AISI blockchain Technology Co., Ltd. has a general registered capital within the province

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6. The traditional currency is "currency", that is, it can exchange any commodity, and its use is unrestricted. Because it does not carry information, it is difficult to trace. If the traditional currency expands with the growth of data, it will lose the function of value measurement, that is, it will become waste paper. However, digital currency is different. Although it is also "currency", it can carry information, so it has stability and can be used as the "anchor" of data assets rather than being "carried away" by data assets
in fact, the core attribute of bitcoin, which was the first to practice the concept of digital currency, is that the total amount of bitcoin can be controlled, so it can be used to measure the value of other commodities rather than being determined by other commodities. Of course, in terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market
therefore, from a strategic perspective, under the background that informatization and digitization have become one of the main trends of economic development, the issuance of sovereign digital currency is the general trend.

7.

The impact of e-money:

1. As e-money appears on the Internet in a virtual form, users can change the conversion between cash and savings, current and fixed at any time through their own instructions. Therefore, e to the decrease of e-money, the advantages of money supply with clear connotation and extension will be lost

2. The impact of e-money on base money. Base money is a special monetary level in which the central bank implements the legal provision system to control deposit expansion and money creation. With the continuous improvement and maturity of e-money, when e-cash can become a new form of cash currency and join the ranks of base currency, it may make the base currency virtual. The development of e-money will rece the cash in circulation. At the same time, if e-money replaces bank deposits, because the laws of various countries have not yet stipulated that e-money should pay reserves, it will rece the deposit reserves of commercial banks and the base money

3. Make the main body of money supply bigger. Under the condition that electronic money does not need reserve and market access, many financial organizations and even enterprises have joined in the issuance of electronic money. From the functions and characteristics of e-money, the occurrence and subject of e-money, we can see that after entering the era of e-money, the issuing right of money will tend to be decentralized

extended data:

the impact of e-money on money demand is mainly reflected in the fact that e-money partially replaces cash in circulation, accelerates the speed of money circulation, and thus reces the demand for money. In addition, e-money has the function of credit creation, which also makes the demand for money in an unstable state, leading to the fluctuation of interest rate, which in turn leads to the instability of money demand. As the fluctuation of money demand increases, interest rate will be reced as the transmission mechanism of monetary policy