What is the digital currency issued by the country (the issuance of central bank digital currency is a national strategic behavior)

08/15/2023 21:06 • Digital Disruptors • 53 views

What is the digital currency issued by the country? Digital currency is a payment method that can be used for circulation and use under specific economic conditions. What is the digital currency issued by the country?

The country is a financial regulatory agency responsible for supervising and managing various aspects of the financial field (such as anti-money laundering, counter-terrorism financing), as well as various other types of issues.

Bitcoin, as a type of encrypted asset, has received support from governments around the world and is considered to have the function of storing value. However, due to its anonymity, it is difficult to trace and trade. Although many central banks in different countries have announced the launch of their own legal digital currencies, it is currently in the development stage and no decision has been made on whether to launch the currency.

If we want to understand this issue, we need to first clarify what currencies the country issues or which countries can issue these tokens. For example, on March 10th of this year, the People’s Bank of China officially announced the “Notice on Carrying out Digital RMB Pilot Work”, which clearly requires Shenzhen and other places to take the lead in exploring the application scenarios of digital RMB based on blockchain technology and accelerate the development process of digital RMB. (Phoenix Financial)

The issuance of central bank digital currency is a national strategic behavior

On November 18th, the People’s Bank of China released the “China Digital Currency Development Report (2021)”. It pointed out that the issuance of central bank digital currency will be a national strategic behavior.

From a technical perspective, one of the considerations of the central bank in issuing the DCEP is its circulation efficiency, cost, and reliability; in addition, it must also have the stability and security characteristics of the payment system; finally, its issuance is also a national strategic behavior. The attitude of the central bank towards CBDC is also very important because it is a fundamental project or system engineering. (Caixin Network)

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