Summary of the central bank’s digital money system report From Bank for International Settlements

The following is the Summary of the central bank’s digital money system report From Bank for International Settlements recommended by recordtrend.com. And this article belongs to the classification: Investment & Economy.

In order to be effective, the CBDC (central bank digital currency) system needs the cooperation of public and private participants to ensure interoperability and coexistence with the broader payment system.

Many central banks around the world predict that any CBDC ecosystem needs to balance the public and private sectors to achieve the expected policy results and achieve innovation to meet the changing payment needs of users.

For CBDC systems, domestic interoperability must be sufficient to enable funds to access other payment systems and maintain convenience.

Regardless of the design, the development and operation of CBDC system will be a major task for the central bank.

Obtaining and processing payment data will play an important role in any ecosystem design.

The participation of public and private participants will also help CBDC predict the needs of future users and incorporate relevant innovations.

The adoption of CBDC may be determined by its future usefulness to users and the acceptance of merchants.

CBDC needs to predict the needs of future users and combine relevant innovations. The central bank can adapt to the changing needs of users by designing flexible core systems, and support a diversified ecosystem of intermediaries that choose, compete and innovate.

The strategy of adopting CBDC needs to be adjusted according to the different economic structure and payment environment of each jurisdiction, but experience has shown that there are some common factors.

In the rapidly changing payment environment, the adoption strategy of CBDC needs to balance the needs of most consumers and cover a small part of the population.

To help maintain security and stability, CBDC needs to be carefully designed and implemented to give the existing financial system time to adjust and flexibly use safeguard measures.

CBDC will have an impact on financial intermediation, which needs to be carefully designed and implemented; However, the analysis shows that for the banking industry, the impact on bank disintermediation and lending is controllable.

The financial system is dynamic and evolving. Over the years, it has successfully passed the period of structural change.

The central bank is exploring safeguard measures that can be incorporated into any central bank business center to deal with financial stability risks; Although these measures may require careful consideration before use. More reading: Bank for International Settlements: in 2013, RMB became the top ten currencies in terms of daily average trading volume. Bank for International Settlements: 2020 global annual macroeconomic report (attached) Bank for International Settlements: in Q3 2017, the proportion of household debt in GDP in South Korea reached 94.4%, creating a grand scene of green investment in the 13th five year plan. In 2013, the global debt hit 100trillion. Bank for International Settlements: be wary of the impact of US dollar liquidity tightening on China’s foreign exchange credit market bis: in Q1 2013, cross-border loans to emerging markets reached $3.4 trillion, an increase of 8.4%. Moody’s: Quarterly monitoring report on China’s shadow banking (download attached) Guojin Securities: reconstruction of the world financial technology system after 500 years when fintech encounters blockchain (report attached), Deloitte | global change, regional promotion of 2016 Asia Pacific regulatory theme financial observation | complex handling of China’s foreign exchange management business The bank for International Settlements (BIS) is facing many problems, such as incomplete management. Before the Federal Reserve raised interest rates, the “market is restless and quiet”. The integration path of American Internet Finance and traditional finance draws lessons from P2P practitioners: no license, regulatory CrunchBase: in 2018, Chinese start-ups have won US $93.8 billion in investment

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