Digital currency is in full swing, and experts believe that it will significantly improve the effectiveness of supervision

A few days ago, "digital renminbi" has once again become the focus of public opinion. On August 29, some users discovered in the CCB App that it had added two sub-menus of "Digital Wallet Recharge" and "Digital Currency". The digital currency interface shows that after users create digital currency, they are expected to complete operations such as payment, collection, scanning and transfer. This news instantly triggered heated discussions in the market: Has the digital currency been officially launched?

the answer is negative. On the afternoon of August 29th, China Construction Bank closed this function, and the relevant page showed that "this function has not officially provided services to the outside world, so stay tuned." In response to this move, China Construction Bank responded on the interactive platform on September 1 that it is participating in the pilot work of digital renminbi research and development. On the evening of August 28, relevant function tests were carried out in the mobile banking system, and the tests have now ended. Previously, the online information was the test content-ethexc in the process of technology research and development, and it did not mean that the digital renminbi was officially issued. The current closed test of digital renminbi will not affect the commercial operation of listed institutions, nor will it affect the renminbi issuance and circulation system, financial market and social economy outside the test environment.

The digital currency sector fluctuated and strengthened. Hengbao shares hit the daily limit and the amplitude was nearly 20%. According to news on February 17, GEM stocks Qitian Technology rose by the daily limit, Sifang Jingchuang rose by more than 10%, and Hengbao shares hit the daily limit. The amplitude was nearly 20%. Ao Technology, Xiongdi Technology, Dongfang Guoxin, etc. followed suit. (Financial Associated Press) [2022/2/17 9:57:39]

In fact, as early as April this year, pictures of the internal test of the Agricultural Bank of China’s DC/EP wallet were circulating on the Internet. According to the screenshots, the Agricultural Bank of China DC/EP wallet supports functions such as digital asset exchange, digital wallet management, digital currency transaction record query, wallet attachment (associated account), code scanning payment, remittance, payment receipt and other functions. The Agricultural Bank did not respond to this.

The vice president of ICBC said at the bank's mid-term results conference on August 31 that the research and development of legal digital currency in my country is steadily advancing, and ICBC is actively carrying out research on digital currency in accordance with the unified requirements of the People's Bank of China.

Julong shares: The company did not directly participate in the research and development of the central bank's digital currency: Julong shares announced at noon that the company's main business has been providing business solutions for the central bank and commercial banks around financial security smart terminals and digital services, and issuing digital currency to the central bank Keep a close eye on your work and be sensitive to digital currency-related technologies. However, as of now, no digital currency products or technological achievements in the company's income structure have generated direct business income, and the company has not directly participated in the research and development of the central bank's digital currency. [2020/4/17]

Although the digital renminbi has not officially landed, there is no doubt that the research and development of digital renminbi is steadily advancing. At the end of 2017, with the approval of the State Council, the central bank organized some powerful commercial banks and relevant institutions to jointly develop the digital RMB system, which is the so-called DC/EP research and development. Regarding the current research and development progress, Sun Guofeng, director of the Monetary Policy Department of the Central Bank, stated at the State Council’s regular policy briefing that at present, the research and development of digital renminbi is following the principles of “stable, safe, controllable, innovative, and practical”. Xiongan, Chengdu, and future Winter Olympics scenarios will conduct internal closed pilot tests to test theoretical reliability, system stability, functional availability, process convenience, scenario applicability, and risk controllability. Therefore, the digital renminbi is still in the stage of internal closed pilot testing and has not been officially launched. In the next step, the People's Bank of China will continue to steadily promote the research and development of digital renminbi, and there is no timetable for the official launch of digital renminbi.

Quotes | Of the 22 concept sectors of digital currency, 18 rose and 4 fell: According to non-small data, 18 of the 22 concept sectors rose and 4 fell. The data economy ranks first in terms of average increase, with an average increase of 4.70%, among which MDT leads the increase, with an increase of 32.96%. %; the third place in the average increase is the market forecast, with an average increase of 4.14%, of which GNO led the rise with an increase of 17.10%. In addition, the top three decliners were based on DAG, platform currency and stable currency, with an average decline of 1.94%, 0.19% and 0.14% respectively. [2019/2/23]

Pan Helin, executive director of the Digital Economy Research Institute of Zhongnan University of Economics and Law, said in an interview with a reporter from the Securities Daily that my country’s central bank began to participate in digital currency research earlier in the world. In 2014, it began to systematically research and develop RMB digital currency. Especially in the past one or two years, it has developed rapidly, and has been using different scenarios for testing, and has gradually become a leading level in the world's digital currency research and development. But objectively speaking, the function of digital currency will not make a big leap in the short term, and it needs to be further developed as an investment function, which will also be a process of dynamic adjustment.

For ordinary people, the most concerned thing about digital currency is what changes it will bring? Xia Ping, executive director of Yifan Digital Economy Research Institute, said in an interview with a reporter from Securities Daily that the construction of digital currency is a long-term process, and it is hard to say whether substantial progress can be seen in 3 to 5 years. Digital currency is different from Alipay and WeChat. In addition to the different financial nature, it also requires a new financial infrastructure, which is not a simple matter. The impact on the future is far-reaching, and it is too early to predict what the impact will be.

"The emergence of digital currency is a product driven by technological progress. Compared with traditional banknotes, digital currency can reduce the cost of currency issuance and affect the existing payment and settlement system. It can not only effectively reduce the cost of currency issuance and circulation, but also improve the convenience of economic transactions. and transparency. At the same time, because its capital flow can be traced and transaction information can be permanently retained, it can significantly improve regulatory effectiveness and improve the efficiency and accuracy of anti-money laundering, anti-terrorism and other regulatory work.” Pan Helin believes that due to the digital currency With the upgrading of payment methods, people do not need to rely on bank accounts and payment accounts, and can complete payments in a non-network and high-security environment, thus bringing real convenience to ordinary people's real life.

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