Launch time of central bank's virtual currency
Publish: 2021-04-19 10:11:22
1. After the people's Bank of China announced the launch of digital currency as soon as possible in January this year, Zhou Xiaochuan, governor of the people's Bank of China, recently gave a detailed description of the development of digital currency in an interview with Caixin weekly
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
it is certain that the digital currency issued by the central bank can never be the same as bitcoin, Ruitai, Qianjin card and other digital currencies. The digital currency issued by the central bank is just the digital currency.
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
it is certain that the digital currency issued by the central bank can never be the same as bitcoin, Ruitai, Qianjin card and other digital currencies. The digital currency issued by the central bank is just the digital currency.
2. There is no established timetable for digital currency
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
in addition, Zhou Xiaochuan also mentioned that there is a lot of discussion about "51% attack" (assuming that indivials have 51% of the computing speed of the whole network, they can realize double payment, reverse transactions, paralyze the whole network, and completely lose the transfer function). More specifically, compared with the special currency, bitcoin does not need the central bank. Zhou Xiaochuan mentioned that for the digital currency controlled by the central bank, a series of technical means, mechanism design and laws and regulations will be adopted to ensure the security of the digital currency operation system, which is different from the design idea of bitcoin from the beginning
as for the digital currency timetable, Zhou Xiaochuan said that there is no established timetable. The relationship between digital currency and cash will be parallel and graally replaced for quite a long time. For reference.
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
in addition, Zhou Xiaochuan also mentioned that there is a lot of discussion about "51% attack" (assuming that indivials have 51% of the computing speed of the whole network, they can realize double payment, reverse transactions, paralyze the whole network, and completely lose the transfer function). More specifically, compared with the special currency, bitcoin does not need the central bank. Zhou Xiaochuan mentioned that for the digital currency controlled by the central bank, a series of technical means, mechanism design and laws and regulations will be adopted to ensure the security of the digital currency operation system, which is different from the design idea of bitcoin from the beginning
as for the digital currency timetable, Zhou Xiaochuan said that there is no established timetable. The relationship between digital currency and cash will be parallel and graally replaced for quite a long time. For reference.
3. Recently, the central bank has made new progress in issuing digital currency. It is understood that the blockchain based digital bill trading platform promoted by the central bank has been successfully tested, the legal digital currency issued by the central bank has been put into trial operation on the platform, and the digital currency Research Institute of the central bank will be officially listed after the Spring Festival.
4. The specific time can not be confirmed, and research is being carried out with the instry
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 recent action is to jointly organize step-by-step R & D with the instry and cooperate with the market. What the central bank develops is actually electronic payment. What it pays is digital, not paper money. Digital money also has monetary properties. 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 central bank's version of digital currency is inspired by bitcoin, bitcoin cash, wikilink and other digital currencies, and adopts the underlying technology blockchain of bitcoin.
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 recent action is to jointly organize step-by-step R & D with the instry and cooperate with the market. What the central bank develops is actually electronic payment. What it pays is digital, not paper money. Digital money also has monetary properties. 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 central bank's version of digital currency is inspired by bitcoin, bitcoin cash, wikilink and other digital currencies, and adopts the underlying technology blockchain of bitcoin.
5. 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.
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.
6. First, most of the virtual coins issued today are decentralized, but in this regard, the virtual coins issued by the central bank must not be able to do so. It must be centralized and easy to adjust
Second, the value of money must be stable in a certain period of time, and it will not be as high as virtual currency such as BTC. The main purpose of the central bank's issuing virtual currency is to replace the current paper currency to a certain extent. That is to say, if a virtual currency assumes a fixed value of one yuan, it will be one yuan for a long time, It will not and will not be allowed that a virtual currency will rise to 100 or even more than 1000
thirdly, the most conservative estimate is that once issued, domestic enterprises or banks can choose whether to pay virtual currency or cash currency (RMB) when they pay wages or withdraw money. To a certain extent, cash will exist for a long time, instead of being issued all at once, all of them will be replaced by virtual currency, and all cash will be invalid, It's not realistic. It can only be said that it will be replaced graally
Fourth, the purpose of the central bank to issue virtual currency is to replace the current paper currency. Therefore, there must be a lot of similarities between this kind of virtual currency and the current paper currency. You can also directly replace the paper currency with the virtual currency, so you can have a good understanding of the nature of the virtual currency issued by the central bank. Therefore, the central bank's virtual currency is absolutely not allowed to appear, and the currency price is falsely high
therefore, it can be seen from the above points that the central bank's virtual currency is a new type of RMB, but it used to be physical, but now it is electronic and virtual. This is just like the use of real gold and silver in ancient times, and the appearance of "Jiaozi", that is, paper money, is only a kind of progress of the times. Other things are meaningless, just for the convenience of transaction, portability or personal property security. If you want to make money by investing in currency speculation, you can give up the idea. It's meaningless. If you just want to experience the freshness brought by the new currency, just wait quietly. Come out early, come out late, come out sooner or later. But then again, I'm looking forward to it.
Second, the value of money must be stable in a certain period of time, and it will not be as high as virtual currency such as BTC. The main purpose of the central bank's issuing virtual currency is to replace the current paper currency to a certain extent. That is to say, if a virtual currency assumes a fixed value of one yuan, it will be one yuan for a long time, It will not and will not be allowed that a virtual currency will rise to 100 or even more than 1000
thirdly, the most conservative estimate is that once issued, domestic enterprises or banks can choose whether to pay virtual currency or cash currency (RMB) when they pay wages or withdraw money. To a certain extent, cash will exist for a long time, instead of being issued all at once, all of them will be replaced by virtual currency, and all cash will be invalid, It's not realistic. It can only be said that it will be replaced graally
Fourth, the purpose of the central bank to issue virtual currency is to replace the current paper currency. Therefore, there must be a lot of similarities between this kind of virtual currency and the current paper currency. You can also directly replace the paper currency with the virtual currency, so you can have a good understanding of the nature of the virtual currency issued by the central bank. Therefore, the central bank's virtual currency is absolutely not allowed to appear, and the currency price is falsely high
therefore, it can be seen from the above points that the central bank's virtual currency is a new type of RMB, but it used to be physical, but now it is electronic and virtual. This is just like the use of real gold and silver in ancient times, and the appearance of "Jiaozi", that is, paper money, is only a kind of progress of the times. Other things are meaningless, just for the convenience of transaction, portability or personal property security. If you want to make money by investing in currency speculation, you can give up the idea. It's meaningless. If you just want to experience the freshness brought by the new currency, just wait quietly. Come out early, come out late, come out sooner or later. But then again, I'm looking forward to it.
7. CBDC, the full name of central bank digital currencies, translated as the central bank digital currency
in its Research Report on CBDC, the Bank of England defines central bank digital currency as an electronic form of central bank currency, which can be used by households and businesses to make payments and store value
the Chinese version of CBDC is described as a controllable anonymous payment tool, which is issued by the people's Bank of China, operated by designated operating institutions and exchanged to the public, based on the generalized account system, supports the loose coupling function of bank accounts, is equivalent to banknotes and coins, and has value characteristics and legal compensation
what we call DC / EP is the Chinese version of the central bank's digital currency, translated as "digital currency and electronic payment instruments"
response time: October 27, 2020. Please refer to the official website of Ping An Bank for the latest business changes
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html
in its Research Report on CBDC, the Bank of England defines central bank digital currency as an electronic form of central bank currency, which can be used by households and businesses to make payments and store value
the Chinese version of CBDC is described as a controllable anonymous payment tool, which is issued by the people's Bank of China, operated by designated operating institutions and exchanged to the public, based on the generalized account system, supports the loose coupling function of bank accounts, is equivalent to banknotes and coins, and has value characteristics and legal compensation
what we call DC / EP is the Chinese version of the central bank's digital currency, translated as "digital currency and electronic payment instruments"
response time: October 27, 2020. Please refer to the official website of Ping An Bank for the latest business changes
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html
8. More convenient and fast, the central bank plans to issue more digital currency for payment, Ruitai currency. Unlike bitcoin, which can replace paper money, vitality money and Wright money, it is impossible to trade freely in the market instead of hyping the central bank's virtual currency, which is just the digitization of RMB
Hot content