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Digital Currency Will Be Used In China At First Possiblly

   Release date: 2019-10-30     Hits: 82     Comment: 0    
Note: Digital currency can be described as a mountain full of rain. The Chinese government has a positive attitude towards dig

Digital currency can be described as a mountain full of rain. The Chinese government has a positive attitude towards digital currency.

On August 10th, at the 3rd China Finance 40th Yichun Forum, Mu Changchun, deputy director of the Payment and Settlement Department of the People's Bank of China, introduced the central bank's legal digital currency DC/EP (DC, digital currency, EP, Practice of electronic payment, electronic payment).

Mu Changchun said that from 2014 to the present, the research on the central bank digital currency DC/EP has been carried out for five years. Since last year, the relevant personnel of the Digital Money Institute has been “996”, and related system development, central bank figures Money can now be said to be coming out.

According to him, the central bank digital currency DC/EP adopts a two-tier operating system. The single-tier operating system refers to the direct issuance of digital currency by the People's Bank of China. The People's Bank of China first converts digital currency to banks or other operating agencies, and then converts them to the public. This is a two-tier operating system.

In contrast, Libra, which is dominated by the Internet social giant Facebook, has yet to launch a “crowding” of global regulation.

On June 18, 2019, Facebook announced plans to launch a new digital currency, Libra, with 27 multinationals such as Visa, MasterCard and Uber, which will be linked to existing sovereign currencies and securities.

digital currency

Digital currency can buy anything except for Oranges

However, Libra has received negative comments from US President Trump, US Treasury Secretary Mnuchin, French Finance Minister Bruno Le Maire and others, and has been reviewed by the US Congress and the European Commission.

In the government's doubts about money laundering, personal privacy, national security, etc., seven founding members of payment giants PayPal, Visa, Mastercard, Stripe, and eBay announced their withdrawal from the Libracoin project.

On October 23, local time, Facebook CEO Mark Zuckerberg testified separately in the House Financial Services Committee. The hearing lasted about six hours, and Libra is one of the important issues. When asked why these members quit, Zuckerberg said: "This is a risky project and will be subject to a lot of scrutiny."

"Digital currency is not something special, just a form of money. Digital currency should be convenient for the people. How the government controls, let the digital currency develop healthily and orderly, and improve relevant legislation." gmtlight, Mr. Niu


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