In the past year, more than 60 countries have developed digital currency. What's the level of China?

In recent years, China has steadily promoted the development of digital currency under the premise of ensuring controllable risks, and has made great progress, but it also faces many challenges. The development of China digital currency started in private digital currency. The increase of demand and the expansion of market scale in private digital currency promoted the development of private digital currency market. In addition to bitcoin, the transaction scale of some virtual currencies has gradually increased. Due to the lack of corresponding regulatory policies and measures, the development of non-governmental digital currency is out of order, and some risk events have occurred, which has caused some investors to suffer heavy losses and impacted the stability of the financial system to some extent. In this regard, the People's Bank of China and other relevant regulatory authorities have introduced strict rectification measures, and imposed strict restrictions on the issuance and market transactions of private digital currency. At the same time, the People's Bank of China actively promoted the research and development of digital RMB and other related work, and the role of government departments in the development of digital currency in China was further enhanced.

On the basis of a lot of in-depth research in the early stage, China officially launched the pilot project of digital RMB in 2020. According to the data of the People's Bank of China, by the end of August 2020, there were more than 6,700 pilot scenarios of digital RMB landing in China, covering transportation, shopping, government services and other fields. A total of 1 1.33 million personal wallets and 8,859 corporate wallets were opened, and the transaction amount exceeded 1 1 billion yuan. By the end of June 2020, 1 1, the number of pilot cities in China has reached 10. Second, the statutory R&D work in digital currency has achieved tangible results. As of April 2020, China has filed 30 patent applications 130 for the statutory digital currency and its related contents, covering the whole process of the issuance, circulation and application of the statutory digital currency.

Digital currency, the central bank of China, is called DC/EP (digital currency and Electronic Payment). Digital currency and electronic payment tools? What is the official definition? Digital payment tools with value characteristics? . At present, the economic society is a highly developed credit economy, and it is difficult for the non-statutory digital currency with defective currency issuance and management functions to take on a big responsibility. The core problem is that it is difficult for such transferable digital assets to build their own value support system. From the essence of money, only the state can exercise the supreme power to issue money. For sovereign countries, the best way to exercise the right to issue money is for the government and the central bank to issue sovereign digital currency. The launch of digital currency by the Bank of China is of great breakthrough significance.