China’s digital currency is ready to go.

星日日报| China's central bank is about to launch a centrally managed digital currency; blockchain electronic invoices will exceed 6 million a year

Editor’s note: This article comes from the strategic cooperation blockchain media “Odaily Planet Daily” (Public ID: o-daily, < a href="https://download.odaily.com/">APP Download)

Headline

Central Bank Mu Changchun: The central bank’s digital currency is on the horizon, and we must adhere to a centralized management model

Mu Changchun, deputy director of the Payment and Settlement Department of the People’s Bank of China, said at the China Financial Forty Forum that the central bank’s digital currency is about to be launched and will adopt a two-tier operating system. Under the two-tier operating system arrangement, we still have to adhere to the center. Management model. Everyone knows about cryptographic assets, and its natural attributes are decentralization. The DC/EP must adhere to a centralized management model for the following reasons: First, the central bank’s digital currency remains the central bank’s liability to the public. This creditor-debtor relationship has not changed with changes in currency patterns. Therefore, it is still necessary to ensure the central position of the central bank in the process of launching. Second, in order to ensure and strengthen the macro-prudential and monetary control functions of the central bank, it is necessary to continue to adhere to the centralized management model. Third, the second-tier designated operating agencies to carry out The exchange of currency should be centralized and avoid the over-issuance of designated operating institutions. Finally, because the dual account system has not been changed during the entire redemption process, the original monetary policy transmission method should be maintained. The status of central bank management.

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