CCTV Financial Commentary: China is expected to run faster on the digital currency "new track"

Various tests and preparations for my country's central bank digital currency are progressing in an orderly manner. In Shenzhen, the internal testing of digital currency is being carried out in an orderly manner; in Suzhou, some civil servants have received part of their salary in the form of digital currency; in Xiongan New District, 19 companies including McDonald's have begun to pilot digital currency. It can be expected that although it is not the same as Alipay and WeChat Pay, digital currency will be seen everywhere in the future like Alipay and WeChat Pay.

CCTV Financial Channel: Metaverse "real estate" transactions exploded, with a weekly transaction volume exceeding US$100 million: According to a report on December 10, Metaverse "real estate" transactions have exploded recently, with a transaction volume exceeding US$100 million within a week. Among them, the transaction volume of THESANDBOX platform in the past 7 days exceeded 86 million US dollars, becoming the Metaverse-related platform with the highest transaction volume. Among them, THE SANDBOX platform has a transaction volume of more than 86 million US dollars in the past 7 days, becoming the Metaverse-related platform with the highest transaction volume.

CCTV Financial Channel emphasized that similar to other virtual assets, Metaverse "real estate" also has security risks. If Metaverse declines, or the enthusiasm in the market fades, or regulatory policies are adjusted, it may bring a huge price down. pressure. [2021/12/11 7:31:51]

At present, the global central bank digital currency field is surging and competition is intensifying. According to data released by the Bank for International Settlements in January this year, 80% of the world's central banks are researching digital currencies, and 10% of central banks are about to issue their own central bank digital currencies. France, Sweden, and Thailand have begun to test digital currencies. Nearly 15% of gas stations in Venezuela have used petro coins. The attitude of the United States towards digital currencies has also changed from negative to positive.

News | CCTV Financial Channel reported on the Facebook Digital Currency Hearing: Yesterday, CCTV CCTV2 Financial Channel reported some of the situation at the scene of Libra’s first Senate hearing, pointing out that both parties at the scene discussed the jurisdiction of digital currency, how to protect data privacy, and the public’s dissatisfaction with Libra. Issues of trust etc. [2019/7/18]

As the world's second largest economy, every move in China's financial sector will affect the global nerves, and digital currency is no exception. Yi Gang, Governor of the People's Bank of China, once stated that the development and application of legal digital currency is conducive to efficiently meeting the public's demand for legal currency under the digital economy, improving the convenience, security and anti-counterfeiting level of retail payments, and boosting the my country's digital economy is developing rapidly.

Voice | CCTV Financial Channel: "Hard Fork" is the driving force behind Bitcoin's plunge: Today, in the economic information broadcast of CCTV Financial Channel, a special report was made on the recent plunge of Bitcoin. "Hard fork" is the driving force behind the plunge. Liu Xiaolei, director of the Finance Department of Peking University's Guanghua School of Management, explained the BCH fork in an interview. Li Honghan, a researcher at the International Monetary Institute of Renmin University of China, said that at present, the digital currency itself does not generate social profits, and more comes from speculation. The weakening of confidence will inevitably lead to the selling of retail investors, which will also make the digital currency market continue to fall. possible. [2018/11/22]

From the point of view of the public, the digital renminbi can be used for "dual offline payment". As long as the mobile phone has power, payment can be realized even if the entire network is disconnected. In addition, the current mobile payment must be bound to a bank card, while the central bank's digital currency does not need to be bound to any bank card, which can not only maintain the attributes and main value characteristics of cash, but also meet the requirements of portability and anonymity. In terms of financial policy formulation and wealth management, the application of digital currency will enable the financial sector to have a stronger grasp of the currency flow, the central bank's monetary policy will be more precise, and the wealth management plans of financial institutions will be more targeted.

The construction of software and hardware for digital currency applications is speeding up, but there is no timetable for the official issuance of digital renminbi. For the financial system, preventing and controlling risks is always the top priority. Internal closed pilot tests were carried out in Shenzhen, Suzhou, Xiong'an, Chengdu and future Winter Olympics scenes in order to test theoretical reliability, system stability, functional availability, process convenience, scene applicability and risk controllability.

Even if there is no timetable, it is an indisputable fact that the digital currency of China's central bank is at the forefront of the world. People have reason to believe that my country will accelerate on the "new track" of digital currency, which will bring us a higher-quality consumer experience, and will also more effectively promote the development of my country's digital economy and reduce costs for economic operations. Synergies provide one more possibility.

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