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The long-rumored digital currency has been getting closer and closer to us. Since the last time the CCB launched the digital currency menu and started testing, the majority of netizens have paid close attention to the progress of the digital currency test. It can be said that everything is ready and only owes the central bank’s order. under.
On September 14, Fan Yifei, deputy governor of the central bank, published an article “Analysis of Policy Implications for the Positioning of Digital RMB M0” in the Financial Times.
The article said: “The central bank establishes a free digital RMB value transfer system and financial infrastructure, and does not charge exchange and circulation service fees from the issuing layer, and commercial banks do not charge individual customers for digital RMB exchange and redemption service fees.” Say: Digital currency does not accrue interest .
Netizens’ soul torture:
No interest? Must not be rejected? Then why not call it “digital cash”?
In real life, there are generally three payment methods:
One is traditional cash payment ;
The second is to pay with bank media such as credit cards/bank cards;
The third is to use online payment channels to pay.
For consumers and merchants, no matter how the payment method changes, the ultimate goal and pursuit is to make payment and settlement more convenient. Take online payment as an example: merchants only need to place the payment QR code on the counter, and no longer need to receive payment. For cash, change and deposit in the bank, consumers only need to scan the QR code with mobile phones and other tools, and no longer need to bring cash and bank cards to go out.
The “digital currency” to be issued by the central bank this time, according to the official interpretation of the central bank, is a kind of “operating agencies participate in operations and exchange them with the public, based on the broad account system, supporting the loose coupling function of bank accounts, and with banknotes and coins, etc. Price, with value characteristics and legal compensation, supports controllable anonymity.”
To put it bluntly, it is “digital cash” because it is M0 and does not accrue interest. That is to say, even if a certain amount of “digital currency” is stored in the user’s mobile phone, its meaning is the same as that of cash, but more It is safe, because it uses “blockchain” technology for consumption or transfer, so it is “traceable” wherever it goes.
Netizens soul torture PLUS:
Why use digital currency, deposit bank card and then pay to get interest, is it not fragrant?
Yes, this is the tricky issue in the implementation of digital currency.
With the rapid development of electronic payment, especially mobile payment, it has better met the needs of economic development and has also cultivated the habit of the public to use electronic payment tools. However, this electronic payment tool based on commercial bank deposit currency, based on the tightly coupled account model, still has a lot of room for improvement in application scenario coverage, inclusive finance, payment efficiency, user privacy protection, and anonymous payment.
The digital currency is different. Digital currency is essentially “legal currency”. Unlike electronic payment currency, it has the essential attribute of “value scale or accounting unit function”, that is to say, digital currency It is the boss of “electronic payment currency”.
In addition, from the perspective of business development and currency flow risks of financial institutions, although digital currency has no interest, it is the safest medium. Each currency has a string of “digital ID cards” (similar to the current serial number of RMB ), which can effectively prevent currency theft and money laundering, and users do not have to worry about currency loss.
Regarding the fact that digital currency has no interest, I believe that with the efforts of thousands of banks across the country, although the market has gradually matured, now there is interest in cash in banks, and in the future, digital currency will also have interest in banks. #Digital RMB#