What is digital currency (what is the digital currency of the central bank)

08/06/2023 17:02 • Blockchain Buzz • 107 views

What is digital currency? Digital currency is a new type of asset that uses blockchain technology and can be traded and stored. Its purpose is to provide liquidity for economic activities; It can also be considered as a means of storing value, a payment method, or an investment vehicle. The issuance process of digital currency is similar to electronic wallet services between banks or other financial institutions, but it does not have a legal status as they do not have a central management entity to maintain these settlement networks. The main characteristics of digital currency include: anonymity, scalability and security, and the absence of intermediaries; Price stability, tracking ability, and ensuring market circulation speed through technical analysis; Features such as unforgeability and strong privacy. (Chain News)

What is the digital currency of the central bank

On December 10, 2018, the Financial Times published a report stating that the central bank’s digital currency (DCEP) is a public digital currency issued by the People’s Bank of China that supports and operates an all-weather payment system. This article introduces in detail the functions of DCEP similar to the current mobile applications such as Alipay and WeChat, as well as some new functions that may be launched in the future So, why is the People’s Bank of China currently developing its own encryption technology? From this perspective, China has entered the era of digitization and is still in a stage of rapid development. So what benefits can the digital currency of the central bank bring to society? Let’s talk about this topic today. In fact, I believe it has a profound impact on the development of the entire economy, so its development prospects are very promising. But it is precisely because of this that many people from all over the world can be attracted to China’s daily life.

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What is digital currency (what is the digital currency of the central bank)

What is the digital currency of the central bank

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