In one article, you can read about "digital currency."

I. What exactly is data yuan?

Digital currency, also known as e-CNY, is a digital form of legal tender issued by the People's Bank of China that is exchanged for the public by a specific operator. The digital rmb is the same legal tender that is backed by national credit bitcoin mining app carry out, with mandatory and legal compensation, and can be used as a general payment instrument.

"The functions and characteristics of data currency are exactly the same as banknotes, except that its shape is digital," said Mu Changchun, director of the Central Bank's Digital Currency Research Institute.

Second, consider the importance, positioning, and responsibilities of digital currency.

The country's value of digital currency: The data economy is becoming an increasingly important driver of global economic growth. According to Yi Gang, central bank governor, the development and application of legal digital currency is beneficial to effectively meet the public's need for legal tender under digital economy standards, improve the convenience, reliability, and anti-counterfeiting level of retail payments, and promote the accelerated construction of China's digital economy.

Positioning of digital currency: it is fiat money like cash money and retains the characteristics of cash money and its main features, meets the requirements of portability and anonymity, is backed by state credit, has legal tender, and cannot be rejected by anyone.

Digital currency functions.

The function of money refers to the physical manifestation of the substance of credit money, which has five major functions: value measurement, means of circulation, means of storage, means of payment, and world currency.

(1) Digital currency has a value scale function: it can be used to consider and express the value of commodities.

(2) Digital currency has the function of circulation, which means that it can be used as a medium of exchange for goods. During the commodity antminer a10pro exchange process, the product seller can convert the product into digital rmb and then use the digital currency to purchase something. In this case, digital currency functions as both a medium of exchange and a means of circulation.

(3) Digital currency serves as a means of storage: the duty of digital currency to withdraw from circulation and be kept as a separate form of value and a general representative of material wealth is referred to as storage means. Digital currency is a general equivalent with legal value that can be used to pay for goods as well as serve as a storage medium.

(4) Digital currency serves as a payment method: This is the function that digital currency serves when paying debts, taxes, wages, rent, and other obligations. (The use of digital currency as a payment method is still in its early stages and is not widely used on a large scale.)

(5) Digital currency serves as a global currency: Because digital currency serves as a global currency, it performs the function of general equivalence in the international market. The traditional concept holds that in order to be a world currency, it must have sufficient gold and silver value, be free of regional coats of minting, and exist in the form of gold and silver nuggets. However, in today's world of bitcoin earn economic globalization and information technology, digital currency is equally responsible for the function of being a world currency. Our government and central bank will vigorously promote overseas payment and clearing of digital currency, making it more convenient and reliable. As the internationalization of digital currency progresses, perhaps, in addition to gold and silver, the legal way of virtual currency will also play a key world currency function in the future.

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