HOW TO INVEST IN DCEP COIN
Buy DCEP Coin, an advanced cash blockchain that’s enabled. Need to understand how to bring money into CHINA’s Cryptocurrency DCEP? Get to know the procedures about how to bring money into today’s Chinese cryptocurrency. About the best way to buy the DCEP coin and put money into it, we’ll split the strategies for you. Since China has literally proclaimed DCEP digital money in broad daylight, this is the ideal opportunity to contribute. Undoubtedly the race for DCEP coin buyers and financial specialists previously began on how they could leverage this new cash.
What will happen is as cHINA uncovers its own digital money – DCEP. Crypto has gone crazy with incoherent transfers from $9,000 to $11,000 ever since dispatch declaration in 2019. Last April, the world of advanced capital was surprised to see exorbitant bitcoin prices, outperforming $10,000 since March 2018.
The DCEP Coin and the Chinese government strive very quickly to help their countrymen buy and own vast quantities of capital-social currency. They can conveniently and efficiently help individuals and organizations of over a billion people find their way to liquidity to make fast transactions in a variety of methods.
This Internet wealth management has been launched by China to assist all those who have limited access to the Internet because they do not own a dedicated computer. This unique one is a good deal regarded by all other forms of black market currencies since it addresses many individuals. DCEP is based on the digital assets standard ERC20 which connects bitcoins, ether, ripple and others. The central concept is to create a system for rapid, safe and borderless transfer of money using blockchain technology. Yet the announcement has already drawn a lot of conspirators’ attention.
A website then posted a fake article after the August 1 bug in the Ethereum blockchain that suggested that crypto will be deactivated on the network. All the user received, which was done via the blockchain, is made to refund. When the blockchain was compromised and a website was shown as Ethereum, a similar story happened in August 2016. In this situation, through blockchain protection, the incident was redeemed and users won their coins back through blockchain protection. It is possible that both of these mishaps arise from a potential hack inside the blockchain, but no proof has been made available specifically for confirmation. Manipulating a tech product is really straightforward because no-one finds out before it’s too late. The Ethereum blockchain has been a victim of the hoax and hacks until now. In the meantime, DCEP can be bought in small increments, and ICO stakes can be bought on their website from an ICO platform, instead of purchasing from a virtual currency exchange or an online broker of cryptocurrencies.
A POSITIVE SIGN TO POTENTIAL INVESTORS?
The arrival of China’s announcement about its new quest has affected bitcoin’s show, but this has only animated excitement for some crypto customers who may have only expected the rapid rise in DCEP use.
China’s DCEP coin has figured out how to pick up consideration from the cryptographic money market, and because of its promising deals and interesting business opportunities, DCEP’s potential financial specialists can not sit tight for its delivery. Hypotheses have emerged on the best way to trade using computerized currency, saying that one must have the choice of having Chinese offers or buying DCEP.
DCEP accompanies cash and security provided by the legislature, not at all like the other crypto alternatives. The fascinated public will like the idea of China having its own digital cash; this campaign will not take long in view of the fact that, considering the fact that the potential premium may be massive, the benefits will not be offered to the consumers, but the PBC will monitor the premium.
These supporters can collect the cash using DCEP Investment Tokens — a system that is anything but an assortment tool. It represents votes on how to play the game. The clients’ part is to execute the tokens using them.
Envision DCEP Investment Tokens as components of a bank that acquires profit from the expected cash progression. In the case of DCEP, the revenue is the gain of the shops. The Chinese digital currency, in any case, acts like a watch that you can en-cash at the bank, but its value is not exactly the actual.
DCEP tokens can be used in a wide variety of ways to pay for services and goods. You could buy a cup of coffee with a single token, you could hire a taxi with a token, you could buy a pizza with a token, you could buy a car with a token, you could buy a house with a token, you could buy a CD with a token, you could pay for a flight with a token, you could buy a book with a token, you could buy a ticket with a token, you could buy a service with a token.
TAKE ADVANTAGE OF BITCOIN’S PERFORMANCE
Another choice is to do what everybody is doing now – buy bitcoin. Despite the fact that bitcoin does not accompany stores and government bonds, as of now, it has been proved and attempted. Then again DCEP is still fresh and needs a lot of focus before eventually giving in to the promotion.
CENTRAL BANK DIGITAL CURRENCIES ARE MORE POWERFUL THAN BITCOIN
Central bank digital currencies are perhaps one of the most transformative developments in our world financial system currently in development. CBDC are digital assets, but they are not cryptocurrencies and in fact strike at the heart of the very philosophy that brought Bitcoin into existence.
Central banks around the world are competing to be the first to release their central bank digital currencies (CBDC) as the world economy is being reshaped by the challenges of the COVID-19 pandemic. China has been the frontrunner, aggressively piloting its own DCEP (Digital Yuan) and the most powerful central banks including the Federal Reserve and the European Central Bank collaborating on research to assess the positives and negatives of CBDC implementation.
The move by central banks to create sovereign backed digital currencies have accelerated as the cryptocurrency market has matured. Ethereum is no longer the hypothetical flaccid unused base layer blockchain but instead finds itself hosting an entirely new ecosystem of decentralized finance. Bitcoin appears to have come even further, after weathering the storm of being labeled a bubble pump and dump scheme, the pioneer cryptocurrency is now being leveraged more than ever in retail use cases and particularly as an institutional hedge.
While these cryptos have been maturing, there is no doubt the real scare for central banks occurred at the announcement of the impending launch of Facebook’s Libra token. While central banks were wary of Bitcoin’s power, the reality is that with less than 5% global adoption, there remained little to fear. Facebook however was preparing to enter the world of finance with their platform already consisting of over two billion users ready to leverage Libra, which would have created a seismic shift in the global monetary system.
Making a comparison between the soon to be launched central bank digital currencies and decentralized cryptocurrency is understandable, but from what we know the core principles behind a CBDC actually run counter to the philosophy of crypto. Bitcoin itself was created as a means to escape the monolithic central banks and debasing monetary policy of the Federal Reserve in reaction to the 2008 global financial crisis. BTC and crypto are a way to escape the banks and hedge against the loss of spending power in cash. CBDC is playing for the other side, desperate to maintain the oligopoly of the world’s banking system.
DCEP Coin White Paper
This is the section of the White Paper that has been made public.
The significance of Digital Currency Electronic Payment lies in that it’s not the digitization of existing currency, but replacement of M0. It greatly reduces the dependence of the trading process on accounts, which is conducive to the circulation and internationalization of RMB. At the same time, DCEP can achieve a real-time collection of data related to money creation, bookkeeping, etc, providing a useful reference for the provision of money and the implementation of monetary policies. PBOC has been studying DCEP for five or six years, and is likely to be the first central bank in the world to launch a digital currency,” said Huang Qifan, Vice President of China Center for International Economic Exchanges, in BundSummit
The following is a translated version of the speech by Huang Qifan:
Distinguished guests and friends, I am very happy to be invited to participate in the 2019 Bund Financial Summit. Today I talk about my understanding of digitalization and how digitalization can subvert the global financial ecology.
First, the composition and subversive role of digital
Digitalization mainly includes big data, cloud computing, artificial intelligence, and blockchain technology. And the relationship between these people, if the digital platform is used to the analogy: the Internet, the mobile Internet, and the Internet of Things are like the human nervous system, big data is like the internal organs, skin, and organs, cloud computing is equivalent to the human body. The backbone. Without the network, the internal organs and the backbone can’t cooperate with each other; without cloud computing, the internal organs can’t hang up; without big data, the cloud computing is the walking dead and hollow. With the nervous system, the spine, the internal organs, the skin, and the organs, plus the artificial intelligence of the soul – the human brain and the nerve ending system, the basic digital platform has been formed. Blockchain technology, like the more advanced “genetic transformation technology”, greatly enhances brain response speed, bone robustness, and limb manipulation flexibility from the basic level. With the help of blockchain technology, the digital platform will be transformed subversively, which will have a stronger driving force for the economy and society.
The reason why digital can subvert the tradition lies in its five genes: full airspace, full process, a full scene, full resolution, and full value. The so-called “full airspace” means: breaking regional and spatial barriers, from heaven to earth, from the ground to the underwater, from the domestic to the international can be ubiquitously integrated; the so-called “full process” means: related to all human production Every point in the life process, the information is accumulated 24 hours a day. The so-called “full scene” means: across the industry sector, all the behavioral scenes of all human beings and work are opened; the so-called “full resolution” means: Through the collection, analysis, and judgment of artificial intelligence (AI), predicting all human behavior information, resulting in new cognitive, new behavior and new value different from traditional; the so-called “full value” refers to breaking the single value system Closed, penetrates all value systems, and integrates and creates an unprecedented value chain.
The combination of the five-gene gene with digitization and any traditional industrial chain will form a new economic organization, which will have a subversive impact on traditional industries. When combined with industrial manufacturing, industrial manufacturing 4.0 is formed; combined with the logistics industry, an intelligent logistics system is formed; combined with urban management, a smart city is formed; and with finance, financial technology or technology finance is formed. In the process of combining with finance, the massive information, computing power, and consensus mechanism possessed by digitalization can greatly improve the efficiency and security of financial services and reduce the operating costs, bad debts, and risks of financial institutions.
Second, the transformation brought by the combination of digitalization and finance
After the collision of the five-gene genes owned by digitalization and finance, it has reshaped the global financial ecology. Mainly reflected in the following four aspects.
1. Subverting global personal payment methods
Before the advent of the digital wave, personal payment in China was mainly done through banknotes, savings cards, and credit cards. In 2002, on the basis of the merger of the National Bank Card Information Exchange Center and 18 cities (regional) bank card network service sub-centers, China Union established the UnionPay company. After the establishment of UnionPay, it independently established a bank card interbank transaction clearing system, promoted the unified RMB bank card standard, and developed rapidly in the traditional payment field, which promoted continuous economic and social progress. However, progress has been slow in innovative payment areas such as Internet payment, mobile payment, and QR code payment.
With the advancement of technology and application in the field of mobile Internet in China, mobile phone-based payment methods have entered every corner of life, and new payments have taken the mainstream. Mobile payments represented by Alipay and WeChat payment have covered 1.4 billion people. From online to offline, from the daily water and electricity bills of the family to transportation, travel, hotels, restaurants, mobile payment, with its efficient and convenient payment experience, breaks the limitations of traditional payment methods in space and time. In 2018, China Mobile paid about US$39 trillion, compared with US$180 billion in the US, and the gap was hundreds of times. China’s electronic payment system has been leading the world. Today, there are mobile payments in places where there are Chinese. In the offline merchant stores in dozens of countries and regions in Europe, America, Japan, South Korea, Southeast Asia, etc., Alipay and WeChat payment can cover almost all kinds of eating, drinking and drinking scenes such as restaurants, supermarkets, convenience stores, theme parks and leisure.
Mobile payment makes personal fund-raising information settle down into credit data, which makes the enterprise have great innovation in the business level – separation of ownership and use rights. This is the basis for the sharing and development of shared formats such as shared bicycles and shared office. When an enterprise sells goods or services, it no longer needs to sell the ownership, but only needs to sell the right to use it at a certain time. In the future, shared forms of shared furniture, shared tools, and shared intelligence will be ushered in with greater development opportunities with the help of mobile payments.
With the gradual penetration of blockchain technology in the financial sector, the underlying technology implementation of individual cross-border transfers has also begun to be rewritten. In the past, personal cross-border transfers required cross-payment agencies, banks, and international settlement networks, and the entire process was inefficient due to serial processing. Now, blockchain technology can be used as an interface technology between payment institutions and commercial banks. Multi-party cross-border remittances transmit remittance messages to the participating parties through blockchain technology, thereby achieving multi-party collaborative information processing, parallelizing serial processing between the original organizations, and improving information transmission and processing efficiency.
However, while the new payment methods are developing at a high speed, we must also respect the selectivity of people’s payment methods. With the popularity of mobile payments, some merchants have become keen on “no cash” and the phenomenon of rejecting cash has increased. According to the “Regulations on the Administration of Renminbi of the People’s Republic of China”, no unit or individual may refuse to accept RMB in the form of format clauses, notices, statements, notices, etc. The act of rejecting cash not only harms the legitimate rights and interests of consumers, but also jeopardizes financial security in the long run. At the same time, because mobile payment is based on power facilities, data centers, and network systems, once an accident such as an earthquake, power outage, or man-made disaster causes mobile payment to be unusable, it will have serious consequences for society.
2. Reshaping the trade settlement system
In the digital age, not only does it need to change the way individuals pay, but the payment and settlement methods between enterprises and countries also need to be reshaped. When conducting foreign exchange settlement in international trade, enterprises will face the problem of direct payment settlement between the two countries’ currencies, or whether the US dollar is used as the intermediate price. Prior to the launch of the RMB Cross-Border Payment System (CIPS), RMB cross-border liquidation was highly dependent on the US SWIFT (Global Interbank Financial Telecommunication Association) system and CHIPS (NYSE Bank Interbank Payment System). Founded in 1973, SWIFT provides secure message exchange services and interface software for financial institutions, covering more than 200 countries and has nearly 10,000 direct and indirect members. The current settlement of SWIFT system reaches 5 trillion to 6 trillion US dollars. The annual settlement amount is about 2,000 trillion US dollars. CHIPS is one of the world’s largest private payment clearing systems. It was established in 1970 and is operated by the New York Clearing House Association. It is mainly responsible for the liquidation of multinational dollar transactions and deals with more than 90% of the global dollar transactions worldwide. SWIFT and CHIPS bring together most of the world’s banks to promote the development of world trade, accelerate global currency circulation and international financial settlement, and promote the modernization and standardization of international financial services with its efficient, reliable, low-cost and perfect services. Played a positive role.
However, there are certain risks associated with a high degree of reliance on SWIFT and CHIPS systems. First of all, SWIFT and CHIPS are gradually becoming the financial instruments for the United States to exercise global hegemony and carry out long-arm jurisdiction. Historically, the United States has launched several financial wars with the help of the SWIFT and CHIPS systems. In 2006, the US Treasury Department analyzed the SWIFT and CHIPS databases and found that European commercial banks had capital exchanges with Iran. The United States immediately used the financing of terrorism as an excuse to require more than 100 European banks to freeze the funds of Iranian customers and threatened to Banks that provide financial services to Iran are blacklisted. Subsequently, most of the world’s banks cut off all business dealings with Iranian financial institutions, and Iran’s external financial channels were almost completely cut off. In the Ukrainian crisis in 2014, the United States, in addition to joining Saudi Arabia in the price of oil, threatened to exclude Russia from the SWIFT system. The Russian ruble then depreciated sharply and the economy was seriously negatively affected. Second, SWIFT is an outdated, inefficient, and costly payment system. Since its establishment 46 years ago, SWIFT has been slow to update and its efficiency has been relatively low. International wire transfers usually take 3-5 business days to arrive. Large remittances usually require paper documents, making it difficult to effectively handle large-scale transactions. At the same time, SWIFT usually charges a fee of one ten-thousandth of the settlement amount, and has obtained huge profits by virtue of the monopoly platform.
Therefore, under the current trend of digitalization, there is no future for SWIFT and CHIPS systems that rely on slow technology updates and difficult security. Driven by big data platform and blockchain technology, building a new clearing settlement network has become the consensus of many countries. Blockchain technology has five characteristics: decentralization, information not tampering, collective maintenance, reliable database, and openness and transparency. It has the natural advantages of transparency, security and credibility in clearing settlement. At present, 24 national governments have invested in and built distributed accounting systems, and more than 90 multinational companies have joined different blockchain alliances. The European Union, Japan, Russia and other countries are studying the construction of an international cryptocurrency payment network similar to SWIFT to replace SWIFT. More and more financial institutions and blockchain platforms are testing cross-border payments through blockchains, bypassing actual actions. SWIFT and CHIPS global payment system.
3. Reforming the global currency issuance mechanism
Currency is an indispensable medium for social relations and exchanges between countries and countries, regions and regions, and between people. The primitive society has no money, and it is exchanged through scarce substances such as fur and shells, but the medium of exchange has never been unified, which restricts the development of productivity. The agricultural society began to use precious metals such as gold, silver or copper coins as currency intermediaries. After the industrial society, the value of commodities is getting larger and larger, and it is difficult to carry a huge transaction scale with precious metals such as gold as the currency, and banknotes will appear. In the 1980s, the electronicization of money became more and more developed, and electronic wallets, credit cards, vouchers, and mobile phone payments developed rapidly. Today, digital currency represented by Bitcoin, Libra, and central bank digital currency has begun to appear, and the currency has ushered in the digital age.
So what is the basis of currency issuance? In the past, the currency relied on precious metals such as gold and silver as anchors. After the collapse of the Bretton Woods system in the 1970s, the foundation of currency issuance became a national credit linked to national sovereignty, GDP, and fiscal revenue. With a strong military and economic power, the United States has monopolized the global oil dollar settlement and most international trade settlements through the US dollar, and the US dollar has become the de facto “global currency.”
However, the currency that relies on sovereign credit is also facing problems such as currency overshoot. Before the Bretton Woods system was disintegrated in 1970, the global base currency (the central bank’s total assets) was less than $100 billion; in 1980, it was about $350 billion; in 1990, that number was about $700 billion; In 2000, this figure was about $1.5 trillion; in 2008, that number became $4 trillion; by the end of 2017, that figure was $21 trillion. In particular, in the past 10 years, in order to get rid of the financial crisis, the United States has stimulated economic development by issuing money through national debt. As a result, the total amount of government debt has risen from 9 trillion US dollars in 2007 to 22 trillion US dollars in 2019, which has exceeded the US GDP. If US debt continues to rise, debts and interest consumption are full of fiscal revenue, the United States does not have credit to re-issuance bonds, financing capacity will be weakened, and a new global financial crisis will be inevitable.
How to change the situation of currency overshoot? After the collapse of the gold standard, countries around the world have not solved this problem very well. Although some scholars have called for a return to the gold standard, it is not realistic to return to the gold standard due to gold reserves. In the digital age, some companies try to challenge sovereign currency by issuing bitcoin and Libra. This decentralized currency based on blockchain is separated from sovereign credit. The issue base cannot be guaranteed, the value of the currency cannot be stabilized, and it is difficult to form social wealth. I don’t believe Libra will succeed. For sovereign states, the best way to practice the distribution rights of monetary countries is to issue sovereign digital currencies by the government and the central bank. In the process of issuing sovereign digital currency by the global central bank, in addition to improving convenience and security, it is necessary to formulate a new rule that enables digital currency to be linked to sovereign credit, with national GDP, fiscal revenue, and gold. Reserves establish appropriate proportional relationships and, through some mechanism, curb the situation of spamming.
At present, the digital currency (DCEP) launched by China’s central bank is a new encrypted electronic money system based on blockchain technology. DCEP will adopt a two-tier operating system, that is, the People’s Bank will first convert DCEP to banks or other financial institutions, which will then be redeemed to the public. The significance of DCEP is that it is not a digitization of the existing currency, but an alternative to M0. It makes the transaction link greatly reduced to the account, which is conducive to the circulation and internationalization of the RMB. At the same time, DCEP can realize real-time collection of data such as currency creation, accounting, and flow, and provide useful reference for the formulation of money and the formulation and implementation of monetary policy. The People’s Bank of China has been studying DCEP for five or six years, and I think it has matured. The People’s Bank of China is likely to be the first central bank in the world to introduce digital currency.
4. Improve the efficiency of industrial chain operation
In the 5G era, in addition to consumer electronics such as mobile phones, tablets, and notebook computers, smart homes, automobiles, and industrial manufacturing equipment can be intelligent and connected to the Internet. The digital platform will further evolve into the Internet of Everything platform, which will drive the human Internet industry to evolve from the To-C consumer Internet to the To-B industrial Internet. Among them, technology finance can connect data platform, financial enterprise, upstream and downstream of the industrial chain to help all parties optimize resource allocation, improve operational efficiency and reduce operating costs.
There are two forms of development of technology finance. One is “Internet + Finance”, a conditional digital platform company that builds non-bank financial institutions around its own industrial chain and independently develops financial business. The other is “finance + internet”, and financial enterprises build digital platforms based on the needs of industrial chain development. In the past few years, the economy has been somewhat falsified. Many industrial and commercial enterprises and non-financial companies are keen to cross-border operations and apply for various types of financial licenses. Various financial institutions are keen on grouping and full licenses.