The e-currency issue, triggered by Facebook's cryptocurrency Libra, is spreading to the competition of major nations trying not to lose their hegemony. Faster countries have announced that they will issue electronic money from the central bank.
At the financial forum held on the 28th, China said testing has been completed, including the design of electronic money and the establishment of standards. The Chinese government plans to phase in the use of digital currency in the pilot area.
Vice-President Vice President of People's Bank of China at the Financial Forum said, "We will complete the electronic money by setting the service area and scope while keeping safe and controllable principles."
Electronic money issued by the People's Bank replaces some of the cash currency. Anonymity is guaranteed, and it is planned to be dualized to the People's Bank and the Commercial Bank. Directly issued electronic money is expected to make the international currency of the renminbi easier.
Xi Jinping China State gov.cn
China has been sensitive to the influence of external electronic money, such as cryptocurrencies such as Bitcoin, and has made the transaction illegal. Chinese President Xi Jinping recently compared bitcoin to the illegal Ponzi fraud, saying it is not like a blockchain.
Edith Young's blockchain professional investment fund, Proof of Capital Partners, said, "China has been working on electronic money for the last few years and has not suddenly launched a plan to foster blockchain technology."
The European Union is also reportedly considering issuing electronic money. The ECB Executive Director Benoit Mulée said, "We are considering various ways to introduce electronic money." Will. "
The EU also announced its goal of introducing electronic money. "The goal is to make it possible for all people in Europe to make real-time payments at home and abroad with EU electronic money by the end of 2021," said Baldis Dombroski, vice chairman of the European Commission.
The EU's rapid progress in building electronic money is attributable to the crisis of losing its leadership in Europe to other countries. "In Europe, about two-thirds of all transactions, excluding cash, are paid by US Visa and MasterCard, and overseas payment systems such as Apple, Amazon and Alipay are expanding in Europe." Banks should start developing their own payment platforms. ”