Securities Times Network: A possible framework for the research and development of China's central bank digital currency is gradually revealed

On August 8, the Securities Times published the article "The central bank will talk about the legal digital currency blockchain industry is expected to benefit." The article pointed out that according to Zhou Xiaochuan, former president of the central bank, Yao Qian, former director of the Central Bank Digital Currency Research Institute, and Wang Xinhe, director of the Research Bureau of the People's Bank of China and the director of the Monetary and Financial Bureau, and his inauguration, a possible central bank digital currency research and development The framework gradually revealed that the Central Bank Digital Money Research Institute is co-organizing distributed R&D with the industry and relying on the market to cooperate in the development of digital currency; the preliminary definition of China's legal digital currency is dominated by the central bank, issued while maintaining physical cash issuance to encrypt The algorithm-based digital currency, that is, part of M0 is composed of digital currency; China's central bank digital currency may adopt the “one currency, two banks and three centers” structure; the blockchain is expected to be applied to the generation, circulation and inventory of Chinese legal digital currency. Check and annihilate the entire process to establish a centralized registration/distribution bookkeeping registration center.