It is imperative to accelerate the development of digital RMB. Why should we speed up the promotion of digital currency?

The reasons for accelerating the promotion of digital currency in the country are as follows:

First, digital currency is an important part of national security. With the deepening of the internationalization of RMB, the development of digital currency will further enhance the international status of RMB, which is a strategic and fundamental issue.

Second, to develop digital currency, we can compete with the US dollar. Today's war of science and technology is terrible, but for the United States, the biggest killer is not technology but the dollar. The United States reaps the wealth of all countries in the world by printing a large number of dollars. For China, the battle of science and technology, as long as enough time is given, can eventually break the technology monopoly. No matter the past two bombs and one satellite or the present semiconductor chip, as long as it is pushed to the end of its tether, it will have a bright future and there will always be a way out. However, it is an indisputable fact that as a country, no matter what its relationship with the United States is, it has to deal with the US dollar. This is due to the Bretton Woods system established after World War II. At present, it is also an unchangeable fact, which is also the fundamental reason why we should vigorously develop digital currency.

Third, the introduction of digital currency is an inevitable trend, a world trend, and also a competitive point for the world powers to compete for the dominance of the new currency in the future. At present, many countries in the world are studying their own digital currency, and digital currency in the United States has been widely concerned, because the US dollar occupies a dominant position in the international reserve system and payment system. So our central bank must develop its own digital currency. Fortunately, the central bank recently issued an official announcement that digital currency has the conditions to land in China. This also fully shows that digital currency in China has entered the fast lane. As early as a few years ago, China's RMB has become one of the international mainstream currencies and the fifth largest currency in the payment system. The successful implementation of digital currency is directly related to the position of RMB in international finance.

Fourthly, the issuance of digital currency can effectively reduce the high cost of traditional paper money in issuance and circulation. It can effectively improve the convenience and transparency of economic transactions, reduce some illegal and criminal activities, and improve the bank's control over the supply and flow of RMB.

Although we haven't seen the true face of digital currency, I believe that digital currency in China will shine brilliantly in the world.