Bitcoin provides a reference for central banks to launch their own digital currencies

Do you remember Bitcoin two years ago? Bitcoin, which was popular all over the world at that time, was once considered a new thing and was banned by the People's Bank of China shortly after entering China.

The central bank believed that digital currencies like Bitcoin were not yet qualified for circulation in China. However, two years later, the central bank changed its mind. According to insiders, the central bank is studying the launch of its own digital currency.

A staff member who declined to be named said: The central bank issues digital currency mainly to improve the convenience and transparency of economic transaction activities and reduce illegal and criminal activities such as money laundering and tax evasion.

According to media reports, the central bank held a digital currency seminar in Beijing yesterday (January 20).

The report said that the central bank was amazed at the earth-shaking changes in payment behavior around the world. The central bank believes that this is a good opportunity and challenge brought by digital currency to currency issuance and monetary policy, which has attracted the central bank's high attention.

According to the central bank staff member mentioned above: The central bank established a research team dedicated to digital currency at the end of last year, and further strengthened the research and development team at the beginning of last year.

Industry insiders said that the central bank's research team has conducted a feasibility analysis on the digital currency issuance and business operation framework, issuance and circulation environment, key technologies, impact on the economic and financial system, the relationship between privately issued digital currency and legal digital currency, and related legal issues, and may soon release relevant research results.

Digital currency is not a new concept for China. Before the central bank announced a ban on domestic banks and payment systems from conducting Bitcoin business two years ago, China was already one of the world's largest markets for Bitcoin.