wholesale beads jewelry from california What are the backgrounds and strategic intentions of the central bank's intended to issue digital currency (DC/EP)?

Billy

November 19, 2022 at 9:05 pm

shane company jewelry wholesale Background:
2019, on June 18, 2019, Facebook released the Libra white paper of the digital currency project, which caused the attention and discussion of central banks in the world. The global central bank has begun to release the signal of developing digital currencies intensively, and the Central Bank of China is no exception.
It China Central Bank digital currencies have been studied since 2014. It has matured in 2018, and in August 2019, LIBRA caused a heated discussion among the global central banks.
The central bank's digital currency English is referred to as "DC/EP", "DC" is the abbreviation of "Digital Currency". As an electronic payment method.

The strategic intent (shallow layer):
First: reduce cash circulation, optimize banknote management
now paper money, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins The costs of various aspects of printing, distribution, and storage are very high than digital currencies, and it is necessary to continuously invest costs for anti -counterfeiting technology research and development. At the same time, due to the development of electronic payment, the convenience of paper banknotes and coins has gradually shrunk.
Secondly: replace the cash M0, promote the digitalization of RMB
This to launch DCEP key replacement of M0 (M0 is cash), not M1 and M2. Simply put, the digitalization of paper money is achieved. In my country's current monetary system, M1 and M2 based on the commercial bank account system have realized electronic and digital, so there is no need to use another technology to conduct a digital transformation again in a short time.
m0 is risky for money laundering and terrorist financing due to transaction anonymous and falsification. With the improvement of security awareness and data protection awareness, ordinary users have a certain need of anonymous payment and anonymous transactions, but the current payment tools cannot get rid of the bank account system whether they are mobile payment or bank card payment, and they cannot meet the anonymous anonymous The demand cannot completely replace the payment of paper money. However, from the perspective of the central bank, the future digital currency must be used to protect the demand for private privacy and anonymous payment, but the social security order is also important. When encountering illegal crimes, the necessary verification methods must be retained.

. In order to solve the above problems, the central bank's digital currency must maintain the attributes and main value characteristics of paper money, but also meet the requirements of portable and anonymous. Privacy protection and cracking down on illegal crimes are found to find balance. Mu Changchun has repeatedly defined the central bank's digital currency as "valuable digital payment tools" and "digital replacement of paper banknotes".
The strategic intent (deep level):
but in addition to optimizing cash management on the surface, and promoting the digitalization of M0, behind the issuance of DCEP, there are more magnificent strategic intentions involving the internationalization of the RMB. It can be divided into the following four categories:
. Resisting US economic sanctions and maintaining the stable domestic economy. This type of country is represented by Venezuela. Due to the economic sanctions led by the United States, the country is deeply in the economic crisis. The traditional monetary system is facing collapse, inflation is severe, almost isolated from the world, and cannot receive assistance from the outside world through traditional financial means. In order to break the blockade, this kind of country has hoped that the value reserve tools such as digital currencies are regarded as the last "life -saving straw".
. Reduce dependence on the US dollar. Most of these countries use US dollars as government currencies, which are subject to the US dollar in the country and represented by the Marshall Islands. In addition, for countries that have to rely on the US dollar due to participation in international trade, the introduction of a digital currency issued by the central bank may also help reduce dependence on the US dollar, which may mean that these countries have more economic sovereignty Essence
. The pursuit of fintech development and improved the existing system. Such countries include China, Russia, Singapore, Israel, Dubai, Estonia, etc. For example, Singapore hopes to promote cross -border payment through digital currency; Israel is for domestic black markets and tax evasion phenomena. This type of economy is basically relatively stable, but in order to pursue the development of fintech, grasp the initiative of future economic development, and supplement or improve the existing currency system, you choose to join the legal digital currency research and exploration.
4. Maintaining the stable monetary system. Such countries are represented by Norway and Sweden. At this stage, these countries' currency systems have been threatened or impacted due to certain external factors. They hope to stabilize the domestic currency system through legal digital currencies and supplement them as fiat currencies to ensure the central bank's control over domestic currencies.
It, the legal digital currency of the central bank is also considered a more secure and compliant virtual digital currency:
First of all, illegal digital currency represented by Bitcoin is characterized by decentralization, but legal Digital currencies need to be clearly centralized. This type of centralized digital currency uses national credit as guarantees. Compared with digital currencies such as Bitcoin with pure technology as a credit guarantee, it can get legal guarantee.
Secondly, there are many problems that are different from illegal digital currencies, such as huge price fluctuations and difficulty definition attributes. The prices of digital currencies issued by the central bank are relatively stable and can be easily exchanged with fiat currency. Regulatory obstacles.
It, the statutory digital currency can adopt a distributed accounting method or the traditional bank account system. The advantage of using distributed ledger is that it can have the characteristics of openness and transparency, non -tampering, etc., which facilitates the cost of distribution and strengthening supervision, and cracking down on illegal crimes. But blockchain technology is not the only option.
Id data Source: 01 Blockchain
It is still in the internal test stage. You can use digital currency wallet functions in the CCB APP, open the CCB APP, and search for "digital wallet" in the top search bar. , Display "Digital money recharge" and "digital currency".
D digital wallet function of the CCB APP
The note: However, because the CCB's digital wallet app is only internal test, it may be temporarily suspended due to the end of the test. At this time, the app will pop up such a prompt. This was normal before DCEP was officially launched.
This has not officially provided services for the time being
Is my answer is useful to you, thank you:)

1 thought on “wholesale beads jewelry from california What are the backgrounds and strategic intentions of the central bank's intended to issue digital currency (DC/EP)?”

Billy
November 19, 2022 at 9:05 pm

shane company jewelry wholesale Background:
2019, on June 18, 2019, Facebook released the Libra white paper of the digital currency project, which caused the attention and discussion of central banks in the world. The global central bank has begun to release the signal of developing digital currencies intensively, and the Central Bank of China is no exception.
It China Central Bank digital currencies have been studied since 2014. It has matured in 2018, and in August 2019, LIBRA caused a heated discussion among the global central banks.
The central bank's digital currency English is referred to as "DC/EP", "DC" is the abbreviation of "Digital Currency". As an electronic payment method.

The strategic intent (shallow layer):
First: reduce cash circulation, optimize banknote management
now paper money, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins, coins The costs of various aspects of printing, distribution, and storage are very high than digital currencies, and it is necessary to continuously invest costs for anti -counterfeiting technology research and development. At the same time, due to the development of electronic payment, the convenience of paper banknotes and coins has gradually shrunk.
Secondly: replace the cash M0, promote the digitalization of RMB
This to launch DCEP key replacement of M0 (M0 is cash), not M1 and M2. Simply put, the digitalization of paper money is achieved. In my country's current monetary system, M1 and M2 based on the commercial bank account system have realized electronic and digital, so there is no need to use another technology to conduct a digital transformation again in a short time.
m0 is risky for money laundering and terrorist financing due to transaction anonymous and falsification. With the improvement of security awareness and data protection awareness, ordinary users have a certain need of anonymous payment and anonymous transactions, but the current payment tools cannot get rid of the bank account system whether they are mobile payment or bank card payment, and they cannot meet the anonymous anonymous The demand cannot completely replace the payment of paper money. However, from the perspective of the central bank, the future digital currency must be used to protect the demand for private privacy and anonymous payment, but the social security order is also important. When encountering illegal crimes, the necessary verification methods must be retained.

. In order to solve the above problems, the central bank's digital currency must maintain the attributes and main value characteristics of paper money, but also meet the requirements of portable and anonymous. Privacy protection and cracking down on illegal crimes are found to find balance. Mu Changchun has repeatedly defined the central bank's digital currency as "valuable digital payment tools" and "digital replacement of paper banknotes".
The strategic intent (deep level):
but in addition to optimizing cash management on the surface, and promoting the digitalization of M0, behind the issuance of DCEP, there are more magnificent strategic intentions involving the internationalization of the RMB. It can be divided into the following four categories:
. Resisting US economic sanctions and maintaining the stable domestic economy. This type of country is represented by Venezuela. Due to the economic sanctions led by the United States, the country is deeply in the economic crisis. The traditional monetary system is facing collapse, inflation is severe, almost isolated from the world, and cannot receive assistance from the outside world through traditional financial means. In order to break the blockade, this kind of country has hoped that the value reserve tools such as digital currencies are regarded as the last "life -saving straw".
. Reduce dependence on the US dollar. Most of these countries use US dollars as government currencies, which are subject to the US dollar in the country and represented by the Marshall Islands. In addition, for countries that have to rely on the US dollar due to participation in international trade, the introduction of a digital currency issued by the central bank may also help reduce dependence on the US dollar, which may mean that these countries have more economic sovereignty Essence
. The pursuit of fintech development and improved the existing system. Such countries include China, Russia, Singapore, Israel, Dubai, Estonia, etc. For example, Singapore hopes to promote cross -border payment through digital currency; Israel is for domestic black markets and tax evasion phenomena. This type of economy is basically relatively stable, but in order to pursue the development of fintech, grasp the initiative of future economic development, and supplement or improve the existing currency system, you choose to join the legal digital currency research and exploration.
4. Maintaining the stable monetary system. Such countries are represented by Norway and Sweden. At this stage, these countries' currency systems have been threatened or impacted due to certain external factors. They hope to stabilize the domestic currency system through legal digital currencies and supplement them as fiat currencies to ensure the central bank's control over domestic currencies.
It, the legal digital currency of the central bank is also considered a more secure and compliant virtual digital currency:
First of all, illegal digital currency represented by Bitcoin is characterized by decentralization, but legal Digital currencies need to be clearly centralized. This type of centralized digital currency uses national credit as guarantees. Compared with digital currencies such as Bitcoin with pure technology as a credit guarantee, it can get legal guarantee.
Secondly, there are many problems that are different from illegal digital currencies, such as huge price fluctuations and difficulty definition attributes. The prices of digital currencies issued by the central bank are relatively stable and can be easily exchanged with fiat currency. Regulatory obstacles.
It, the statutory digital currency can adopt a distributed accounting method or the traditional bank account system. The advantage of using distributed ledger is that it can have the characteristics of openness and transparency, non -tampering, etc., which facilitates the cost of distribution and strengthening supervision, and cracking down on illegal crimes. But blockchain technology is not the only option.
Id data Source: 01 Blockchain
It is still in the internal test stage. You can use digital currency wallet functions in the CCB APP, open the CCB APP, and search for "digital wallet" in the top search bar. , Display "Digital money recharge" and "digital currency".
D digital wallet function of the CCB APP
The note: However, because the CCB's digital wallet app is only internal test, it may be temporarily suspended due to the end of the test. At this time, the app will pop up such a prompt. This was normal before DCEP was officially launched.
This has not officially provided services for the time being
Is my answer is useful to you, thank you:)

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