The main characteristics of the issued digital currency are as follows: 1. Legal compensation digital currency (DC/EP) is a digital form of currency issued, which belongs to the liabilities of the central bank and has national credit. From the perspective of legal authority, no Chinese institution or individual can refuse to accept digital currency.
2. Alternative digital currencies can replace cash M0 without functional interference from M1(M0 + demand deposits) and M2(M1+ time deposits).
3. Operability constitutes a two-level relationship between the central bank, commercial banks and residents. Commercial banks provide 100% reserves to the central bank, and the central bank gives commercial banks the same amount of digital currency, and then commercial banks exchange digital currency to residents, ensuring the integrity of the infrastructure of the existing financial system.
4. Security Strict risk control technology and currency model are used to ensure the security of coin issuance and transfer.
5. Non-blockchain This time, the digital currency does not adopt the decentralized blockchain technology, but the basic technical architecture based on centralized regulation developed by the technical team of the Central bank, which ensures the seamless connection between the digital currency and the existing financial management system.
6. Off-grid digital currency has formed two modes of payment based on network and payment based on non-network, which can complete the transaction payment under the state of network and no network.
Especially in extreme conditions such as earthquake and other natural disasters caused by Internet disconnection and online banking and other payment network breakdown and other cases of use.
The function of the first-phase digital currency is basically the same as the daily payment and management function of the bank electronic account, which has four common functions: “scanning code payment”, “remittance”, “receipt and payment”, and “touch”.
8. Upgradability At present, this digital currency is a basic version. In the future, it will be continuously upgraded with the change of environmental conditions, which is also a major feature of digital currency.
The direction of the upgrade version is mainly around “feature upgrade”, “network upgrade” and “decentralized upgrade”.
9, international openness by tertiary encryption, issuing the country’s central bank master password, system formed in the random basic encryption password and its national central bank private key encryption password, building a allows other countries based on the central bank in the chain of digital currency and issue their own national digital currency open new international financial system, open source, it is the key to the China digital currency financial towards the world.
10. Financial Impact China’s digital currency will have an impact on the financial circulation system, on banks and financial institutions, on the financial regulatory system, on the monetary transmission mechanism and on the international financial system.
The outlook for the U.S. economy was downgraded, U.S. stocks suffered their worst disaster in nearly two years and oil prices plunged nearly 4 percent to a peak.
Please pay attention to the specific operation, the market is changing rapidly, investment needs to be cautious, the operation strategy is for reference only.