guide
On April 16, 2020, DC/EP was successively disclosed on the clients of Agricultural Bank of China and Bank of China, as well as in Xiangcheng District, Suzhou.
Summary
Summary
Topic: The launch of DC/EP, leading the arrival of the era of digital economy. Since 2014, the People's Bank of China has started the research and development of DC/EP. After 7 years of development, DC/EP has gradually matured, and its application is imminent. On April 16, 2020, DC/EP was successively disclosed in pilot projects such as Xiangcheng District, Suzhou. The issuance of DC/EP is of great significance: defending national digital sovereignty, improving the effectiveness of monetary policy, and promoting the internationalization of RMB.
Market: BTC returned to 7,000 US dollars, and the market fluctuated upward. The total market value of digital tokens this week was US$207.81 billion, an increase of US$7.53 billion or about 3.8% compared to last week; the average daily turnover rate was 62.3%, a decrease of 2.4% from last week. The current price of BTC is 7096.18 US dollars, with a weekly increase of 3.4%, and the average daily trading volume is 35.9 billion US dollars. The current price of ETH is 171.64 US dollars, a weekly increase of 8.4%, and the average daily trading volume is 16.2 billion US dollars. The BTC balance on the exchange this week was 663,000, a decrease of 161 from last week. The balance of ETH on the exchange was 14.688 million, a decrease of 290,000 from last week. Among the BICS secondary industries, the proportion of professional service industry has increased significantly.
text
Risk warning: regulatory policy risk, market trend risk
text
secondary title
1. The launch of DC/EP will lead the arrival of the era of digital economy
On April 16, 2020, DC/EP was successively disclosed on the clients of Agricultural Bank of China and Bank of China, as well as in Xiangcheng District, Suzhou.
1.1 The long-awaited DC/EP just came out
CBDC is a legal digital encrypted certificate issued by the central bank of the country and supported by national credit. It is the digital form of a country's legal currency.
DC/EP refers to the digital certificate issued by the People's Bank of China, which has national credit, is equivalent to legal tender, and has exactly the same functional attributes as banknotes. DC/EP is China's CBDC.
Since 2014, under the advocacy of then-governor Zhou Xiaochuan, the People’s Bank of China has started the research and development of DC/EP. After 7 years of development, DC/EP has gradually matured, and its application is imminent.
On April 16, 2020, the Science and Technology Innovation Board Daily reported that DC/EP will first be piloted in Xiangcheng District, Suzhou. The staff of the district-level agencies, enterprises and institutions whose salary is paid by the four major state-owned banks of China Construction Industry and Agriculture will complete the installation of the DC/EP digital wallet in April; in May, 50% of the transportation subsidy in their salary will be paid. It will be issued in the form of DC/EP.
1.2 Development history of DC/EP
In 2014, the central bank established a CBDC research group.
In 2016, the central bank established the CBDC Research Institute on the basis of the original group.
On March 9, 2018, at the press conference of the First Session of the Thirteenth National People's Congress, Zhou Xiaochuan mentioned that the central bank is studying DC/EP, which is the debut of DC/EP.
In August 2019, the central bank proposed to accelerate the pace of DC/EP research and development.
In September 2019, China Daily reported that DC/EP's "closed-loop test" had begun.
On April 3, 2020, in the "National Currency, Gold, Silver and Security Work Video Conference", the central bank stated that it would "unswervingly promote the research and development of DC/EP".
On April 10, 2020, Zhou Xuedong, Director of the General Office of the Central Bank, pointed out at the "First Quarter Financial Statistics Conference", "Regarding DC/EP, the central bank is proceeding in an orderly manner according to the original plan."
On April 14, DC/EP took the lead in the internal testing of the Agricultural Bank of China.
On April 16, the Science and Technology Innovation Board Daily reported that Xiangcheng District, Suzhou will first carry out DC/EP pilot projects, which will be issued in the form of transportation subsidies, and digital wallets will be used as payment channels.
Judging from various actions, DC/EP is continuing to advance in an orderly manner.
1.3 Significance of DC/EP issuance
Defend national digital sovereignty. In the future, digital sovereignty will constitute part of the comprehensive national strength of all countries. Digital sovereignty will be at least as important as financial sovereignty. The early launch of DC/EP is expected to give my country a first-mover advantage in the digital economy trend and be invincible.
Improve the effectiveness of monetary policy. DC/EP will provide the central bank with new monetary policy tools, or help the central bank to make more accurate calculations of money supply, structure, and velocity of circulation, which will help improve the central bank's monetary status and monetary policy effectiveness.
Today's era is a digital era, technological innovation and the overall rise of the digital economy will greatly improve the operational efficiency of the industrial chain and promote the development of the entire economy and society. The in-depth integration and transformation of traditional industries by technologies such as blockchain, artificial intelligence, cloud computing, and the Internet of Things will lead us into a new era of digital economy.
Today's era is a digital era, technological innovation and the overall rise of the digital economy will greatly improve the operational efficiency of the industrial chain and promote the development of the entire economy and society. The in-depth integration and transformation of traditional industries by technologies such as blockchain, artificial intelligence, cloud computing, and the Internet of Things will lead us into a new era of digital economy.
secondary title
2. Market: BTC returned to 7,000 US dollars, the market fluctuated upward
2.1 The overall market: BTC returned to 7,000 US dollars, the market fluctuated upward
This week, the ChaiNext Digital Asset 100 Index closed at 646.57 points, up 3.1%. The ChaiNext Digital Asset 100X Index closed at 1753.9 points, up 4.5%.
The total market value of digital tokens this week was US$207.81 billion, an increase of US$7.53 billion or about 3.8% compared to last week.
The average daily turnover of the digital token market was US$125.95 billion, a decrease of 5.6% from last week, and the average daily turnover rate was 62.3%, a decrease of 2.4% from last week.
The BTC balance on the exchange this week was 663,000, a decrease of 161 from last week. The balance of ETH on the exchange was 14.688 million, a decrease of 290,000 from last week.
The market value of USDT is 6.37 billion US dollars, an increase of 189 million US dollars from last week, and the premium rate of USDT relative to the US dollar has increased.
2.2 Core tokens: BTC returns to $7,000, the market fluctuates upwards
The current price of BTC is 7096.18 US dollars, with a weekly increase of 3.4% and a monthly increase of 35.5%. The average daily turnover is 35.9 billion US dollars, and the average daily turnover rate is 28.3%.
The current price of ETH is $171.64, with a weekly increase of 8.4% and a monthly increase of 49.5%. The average daily turnover is 16.2 billion US dollars, and the average daily turnover rate is 90.6%.
The current price of EOS is $2.64, with a weekly increase of 5.6% and a monthly increase of 35.4%. The average daily turnover is 3.05 billion US dollars, and the average daily turnover rate is 130.9%.
The current price of BCH is 233.62 US dollars, with a weekly increase of 0.2% and a monthly increase of 30.4%. The average daily turnover is 3.51 billion US dollars, and the average daily turnover rate is 83.4%.
This week, the monthly volatility of major tokens has dropped significantly, and price fluctuations have plummeted.
2.3 BICS industry: the proportion of project service industry has increased significantly
Among the top five BICS (Blockchain Industry Classification Standard, Blockchain Industry Classification Standard) secondary industries, the market value of professional services has increased significantly; the market value of performance optimization industry has decreased significantly.
The BICS secondary industries with a relatively obvious increase in the number of tokens this week are media content and retail e-commerce, while non-bank financial and stable tokens have experienced a significant decline.
2.4 Market view: BTC returns to 7000, the bottom of the structure may be completed
The market is volatile, and we still need to pay attention to controlling positions. The BTC halving market is approaching, and the recent volatile market has provided investors with a more suitable price. It is still a good time to invest in digital assets such as BTC. Long-term currency holders may consider regular investment or bargain hunting.
secondary title
3. Output and popularity: BTC computing power and difficulty tend to be stable,
This week, according to Google Trends, the search popularity of the term Bitcoin is 13, and that of Ethereum is 9.
secondary title
4. Industry news: blockchain enters the fast lane
4.1 Libra Releases White Paper Version 2.0: Introduces a single-currency stable pass and abandons the transition to a permissionless system
Libra, a stable token project launched by Facebook, released version 2.0 of its white paper. This is the biggest update since the release of the Libra white paper in June last year. It mainly includes four key changes, responding to the most difficult regulatory issues before: 1. In addition to multiple In addition to the currency stable token system, new single currency stable token support is added; 2. Improve the security of the Libra payment system with a robust compliance framework; 3. Abandon the transition to a permissionless system in the future while maintaining its main economic attributes 4. Build stronger safeguards into the design of the Libra Reserve.
4.2 Lendf.Me was attacked, dForce locked value plummeted to $6
On April 19, the DeFi loan agreement Lendf.Me was attacked today. DeFi Pulse data shows that in the past 24 hours, the dollar value of dForce locked assets fell by 100% to $6, while the previous total locked value exceeded $24.9 million.
Note:
Note:
Due to some reasons, some nouns in this article are not very accurate, mainly such as: general certificate, digital certificate, digital currency, currency, token, crowdsale, etc. If readers have any questions, they can call or write to discuss together.
Due to some reasons, some nouns in this article are not very accurate, mainly such as: general certificate, digital certificate, digital currency, currency, token, crowdsale, etc. If readers have any questions, they can call or write to discuss together.
