From the digital currency, I saw the dawn of inclusive finance-Zhao Guodong commented on "Digital Currency"


Zhao Guodong, leader of the Digital Economy New Infrastructure Research Group of the National Development and Reform Commission, co-director of the Digital Economy and Governance Research Center of Renmin University, and secretary-general of the Zhongguancun Big Data Industry Alliance.

From the digital currency, I saw the dawn of inclusive finance -Zhao Guodong commented on "Digital Currency"

"Now is an era that requires theory and will certainly generate theory, and an era that requires thought will also generate ideas," Dr. Long Baitao's new book "Digital Currency" is the footnote of this era assertion.

Although many of these points of view are first seen in other literature, such as the theory of "loan to create currency", but the integration of these theories and blockchain technology can be flexibly used in the token economy, and then can be extended to the concept of "digital currency area" Yes, Dr. Dragon is none other than.

Currency phenomena are everywhere. The meal tickets printed by the cafeteria can be understood as a currency for specific purposes. There are even university cafeterias, because of the large number of students and the excellent taste of the meals, which attracts the residents around, and the meal tickets actually circulate in the hands of the surrounding small shops and residents. When you consume, the various points generated can be exchanged for some commodities, and also play a part in the function of currency. In business operations, letters of credit, manifests, and checks all have the function of currency.

But after the birth of blockchain technology, the micro-level currency phenomenon suddenly had a universal and cheap solution . Meal tickets, points, letters of credit, manifests, and checks can all be implemented using the blockchain. Digital currency can be said to arise at the historic moment.

Currency, in general, has three core functions, accounting units, payment instruments, and value storage. With the rapid development of blockchain technology, if you do not consider the needs of regulation, based on this new technology, you can actually construct a different currency and complete the three major functions of traditional currency. This is of course a great challenge to the financial order and economic laws.

In the future, different enterprises and different industries will be deeply integrated to form a type of "virtual industrial cluster". In this cluster, there will be internal circulation of currency phenomenon . Another example is the rural credit cooperative, a type of financial institution of mutual assistance nature. The cooperative's funds come from members and are used for members. In cooperatives, it is mostly a single type of production or business activity. Such local currency flows, if the bank model is adopted, are costly and often cannot be landed in practice. But digital currency seems to be born for such scenarios. Why can't a credit cooperative have its own digital currency? Especially when the funds are taken from the members and used from the members. These currencies, which limit the payment field, can at least avoid the risk of misappropriation of funds.

Similarly, in the virtual industrial cluster, if there is no digital currency, corporate liquidity often depends on bank loans. If a powerful enterprise in the virtual industrial cluster uses the bank's credit line as a guarantee to issue digital currency for internal circulation in the industrial cluster, can it greatly alleviate the problem of tight liquidity for SMEs ? This intrinsic mechanism is the application of the theory of loan creation created by Dr. Long Longcai to the virtual industry cluster. With these cutting-edge thinking, I vaguely saw the dawn of inclusive finance.

More importantly, digital currency has been tightly integrated with production, circulation, trading, and consumption, and has even become one. You can't just treat it as a tool, even the digital currency is the digital economy itself .

New book recommendation:

The new book "Digital Currency: Inheritance and Innovation from Slate Economy to Digital Economy" by Dr. Long Baitao, Executive Deputy Director of the Academic and Technical Committee of the Digital Asset Research Institute, is the first domestic academic monograph to establish a theoretical framework of digital currency finance . Zhu Jiaming, Director of the Academic and Technical Committee of the Digital Asset Research Institute (click on the preamble), Yi Xiqun, former chairman of the Beijing Holding Group (click on the preamble), and Wang Wei, chairman of the China Financial Museum (click on the preamble), jointly recommended. The electronic version of the new book has been fully launched on major domestic e-book platforms (such as the Chinese version of Kindle, palm reading, etc.), and the WeChat public account of the " Digital Economic Commune " provides online sales of paper books. Please read it.