The People's Bank of China's Digital Yuan (DCEP) FAQs Everyone Needs to Know Quickly
On the afternoon of December 10th, at the "Seeing the Future·2019 Second Capital Market Summit Forum and Golden Jubilee Awards Annual Awards Ceremony" held in Beijing, Yao Yudong, former director of the Financial Research Institute of the People's Bank of China, published "The New Currency Theory and Dacheng Four Seasons Asset Allocation" keynote speech.
Regarding the central bank's digital currency, Yao Yudong said, "Digital currency must be popular, because our effective assets are not sufficient, and we are not able to produce effective assets to meet our currency needs. Therefore, blockchain-based digital currency is very promising. I hope that the people will The DCEP developed by the bank was tested earlier, and this is still in a leading position."
Including Mu Changchun, former director of the Central Bank's Digital Currency Research Institute, said that the central bank's digital currency is "ready to come out";
Huang Qifan, vice chairman of the China International Economic Exchange Center, said that the People's Bank of China is likely to be the first central bank in the world to launch a digital currency;
Fan Yifei, deputy governor of the People's Bank of China, said that DCEP has basically completed the top-level design and standard formulation;
Subsequently, the four major banks and the three major operators entered the DCEP pilot "horse racing" mode, etc.
The country's actions against DCEP are becoming more and more frequent, what? It's about to be issued, you still don't know what DCEP is? Don't say it has nothing to do with you, you may have to pay with DCEP when you go out to buy food in the future.
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1. What is DCEP?
DCEP is the abbreviation of digital currency/electronic payment. We call DCEP the digital currency of the central bank of China. Why is it called the "new version" digital renminbi, because its positioning is to replace paper renminbi, and its function is exactly the same as paper money, but its form is digital. , and the difference between banknotes and nothing more.
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2. Is DCEP the same as Alipay/WeChat payment?
1. DCEP is different from Alipay and WeChat payment. Both Alipay and WeChat Pay are commercial activities of third-party commercial companies. And DCEP is the cash that the central bank is in debt. You can understand the meaning of the central bank's debt as the endorsement of the People's Bank of China. In other words, the state provides guarantees, and there will be absolutely no risk of bankruptcy or bankruptcy; although the bankruptcy probability of large third-party payment institutions is very small , but not impossible.
2. The legal inclusiveness is different. DCEP has unlimited legal compensation, which means that as long as DCEP is used for payment or transfer in China, no one can refuse to accept it, and it is illegal to refuse to accept it! However, third-party payment is not mandatory in the legal sense. Any merchant can choose not to accept Alipay or WeChat payment, but they cannot refuse DCEP. In the same way, DCEP has the function of cash, and any merchant must not refuse DCEP, which will be illegal.
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3. Why should I use DCEP?
As mentioned above, DCEP is our future legal RMB. With the country's vigorous investment and promotion of blockchain, DCEP will go deep into our lives (such as WeChat and Alipay now), so we must fully understand it.
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4. Can I not use it? Is it safe to use DCEP?
This is a brand new thing, promoted and promoted by the state. As mentioned above, you can not use it, but there will be legal risks in refusing to accept it. Each of us should actively embrace and respond to government policies.
In addition, using DCEP is a safer payment method, there are no counterfeit banknotes, and the security will be greater than cash.
