龙海| 武进| 双流| 长春| 汾阳| 托克逊| 忻城| 蕲春| 天山天池| 柘荣| 朝阳县| 都兰| 绥化| 称多| 汉寿| 新洲| 五寨| 图木舒克| 赣州| 门头沟| 洋山港| 咸丰| 大方| 湖口| 临潼| 晴隆| 长武| 韶关| 霍城| 凤庆| 柳河| 滴道| 鸡东| 揭阳| 绍兴县| 洪洞| 江山| 浮山| 郾城| 江达| 青龙| 阜南| 韶山| 留坝| 建湖| 汨罗| 八达岭| 乐亭| 庆安| 秀山| 阳泉| 交口| 依兰| 镇巴| 马鞍山| 琼山| 梅河口| 莲花| 郑州| 鞍山| 洮南| 泾川| 准格尔旗| 富拉尔基| 巫溪| 樟树| 洞头| 靖边| 察哈尔右翼后旗| 北辰| 天峻| 峨眉山| 绥宁| 上高| 库尔勒| 那坡| 邛崃| 台中县| 大同区| 抚顺县| 安化| 合江| 会同| 哈密| 昔阳| 确山| 永春| 昂仁| 如皋| 荔波| 通州| 吐鲁番| 灵璧| 临洮| 宜丰| 泰兴| 宿松| 户县| 额尔古纳| 双流| 五寨| 沿滩| 辉县| 杜尔伯特| 北票| 始兴| 九龙| 华安| 达州| 兴山| 灵璧| 日喀则| 成都| 桦川| 焉耆| 牙克石| 九江县| 宁化| 相城| 阿勒泰| 新乐| 丘北| 长岭| 永平| 海城| 株洲县| 大渡口| 南海镇| 淮安| 张家口| 定西| 莎车| 新源| 永春| 临潭| 罗平| 牡丹江| 抚松| 耒阳| 获嘉| 贞丰| 昌都| 呈贡| 绥芬河| 西昌| 施甸| 延津| 温宿| 九龙| 澧县| 泊头| 施甸| 西峰| 夏津| 汝州| 红古| 泽州| 砀山| 纳溪| 凤山| 铁山港| 陇西| 安陆| 桂林| 澧县| 和布克塞尔| 厦门| 巍山| 铜梁| 巴楚| 台前| 本溪市| 宁南| 望都| 淮滨| 海伦| 余江| 胶州| 山阴| 洪洞| 鸡东| 阳信| 遵化| 西青| 盐津| 乐清| 抚远| 珠海| 融安| 青冈| 屯留| 谢通门| 三原| 和林格尔| 海安| 石阡| 丹凤| 万安| 任丘| 安龙| 巴彦| 张掖| 即墨| 涞水| 天等| 宁河| 秀屿| 泗洪| 叶城| 黄岛| 兴山| 陇西| 金山屯| 防城区| 带岭| 宣化县| 五莲| 洞口| 大同区| 阿瓦提| 新余| 丹阳| 高县| 图们| 巨鹿| 辰溪| 阜阳| 冕宁| 东胜| 阿鲁科尔沁旗| 苏尼特左旗| 兴山| 南召| 湘东| 新密| 江油| 谢通门| 纳溪| 江华| 合水| 泾川| 通州| 阜康| 宣威| 泸州| 乌拉特前旗| 清河门| 会同| 麻城| 罗甸| 绛县| 乌当| 济宁| 加格达奇| 上街| 麻栗坡| 桦甸| 珠穆朗玛峰| 东胜| 甘谷| 威信| 辽阳县| 金昌| 鄯善| 百度
Global EditionASIA 中文双语Fran?ais
Business
Home / Business / Finance

Nation's digital currency may be world's first

By Chen Jia | China Daily | Updated: 2019-09-17 06:56
Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, Oct 8, 2018. [Photo/IC]
百度 根据谈判情况,他可能去喀布尔,也可能回国。 百度   降水预报:7日08时至8日08时,黑龙江中东部、吉林中东部、辽宁中东部等地的部分地区有大到暴雨,其中辽宁东部局地有大暴雨(100~150毫米)。 百度 中国空军将以本次联训为新的起点,更深层次、更宽领域、更高水平推动中巴两国空军友好、交流、合作。 百度 六合 百度 龙凤花园 百度 烂泥

CBDC could be put into e-wallets for direct and peer-to-peer transactions

As the time is approaching when the digital currency from China's central bank is set to be unveiled, which may be the world's first, more experts are discussing the attributes of the new type of money based on details leaked by the authorized designer.

Central bank digital currency, or the CBDC, is a new form of money issued digitally by the central bank and to serve as legal tender-a country's sovereign currency. It has no physical form like cash, but is backed by the reserves of valuable assets that commercial institutions deposit in the central bank.

Like a token, the upcoming CBDC could be put into electronic wallets, supporting direct and peer-to-peer transactions. The "wallet" could be an app on a handheld device, such as a mobile phone, but the final design has not yet been settled, according to Mu Changchun, deputy director of the central bank's payments department.

"If China successfully issued the world's first CBDC, it will promote other countries to accelerate relevant studies and join the competition of creating CBDC," said Huang Yiping, director of the Institute of Digital Finance at Peking University.

Experts said, the announcement of Facebook's "Libra", the global social network's digital currency, has accelerated the PBOC's plan to issue its own digital money. And the Libra's designing scheme might have sparked new ideas among Chinese financial regulators.

Zhang Zhijun, lead security architect of the World Bank, told China Daily in an interview that some countries have undertaken pilots and explored some basic technology. "It still needs time to watch who will actually implement the digital currency plan, or in which specific form."

Fan Yifei, a vice-governor of the PBOC, wrote in an earlier article that the issuance system of Chinese CBDC will have two tiers-the central bank offers CBDC to authorized commercial institutions, and then the public can exchange it for digital currency from institutions.

The "double-tier structure" of the Chinese CBDC is practical and reasonable, which could play a leading role and provide some reference for other countries, said Zhang.

In terms of the cross-border usage, it could be a challenge for other countries' monetary authorities to accept Chinese CBDC. And it is a relatively difficult issue, which requires communication with foreign financial regulators, he added.

The CBDC could be seen as residents' deposits in the central bank's account, said Peng Wensheng, global chief economist with Everbright Securities.

As PBOC officials reiterated, the CBDC will replace bank notes and coins, or the cash in circulation (M0), and it is designed for retail payments at the early stage.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
丰乐村路口 康家巷子 金湖 信鸿花园 景谷傣族彝族自治县 赵墩镇 京西旅游 下坑村 高烈
天山庙 东清河头村委会 三水湾小区 东方金座 青浦镇 安富寨村 良平乡 富春山居 色满乡
玉田县 交警中心 宛平城老庄子社区 大外廊营 南白石 浙江宁海县深圳镇 霍林郭勒 万柳中路北口 长安航天科技产业园 绿化
https://www.whr.cc/bbsitemap.htm