Kulo nyaka, ngokunwetshwa kohlelo lokuhlola i-digital renminbi, abantu abaningi ngokwengeziwe baye bathola inguqulo yokuhlola ye-digital renminbi;ezinkundleni zezimali ezinkulu, i-renminbi yedijithali nayo iyisihloko esishisayo esingenakunakwa.Kodwa-ke, i-renminbi yedijithali, njengohlobo lwemali olusemthethweni lwedijithali, inamazinga ahlukene okuqwashisa nge-renminbi yedijithali ngohulumeni, amabhizinisi, nabantu ekhaya nakwamanye amazwe ngesikhathi sokuthuthuka.I-People's Bank of China kanye nochwepheshe nezazi ezivela kuyo yonke imikhakha yempilo bayaqhubeka nokuxoxa nge-digital renminbi abantu abakhathazeke ngayo kakhulu.

Emhlanganweni wakamuva we-International Financial Forum (IFF) 2021 Spring, u-Yao Qian, umqondisi we-Science and Technology Regulatory Bureau we-China Securities Regulatory Commission, uthe ukuzalwa kwe-renminbi yedijithali kumongo wegagasi ledijithali.Kuyadingeka ukuthi ibhange elikhulu lisungule ukukhishwa kanye nokusakazwa kwethenda esemthethweni.Hlola uhlobo lwemali lwedijithali yebhange elikhulu ukuze uthuthukise umsebenzi wokukhokha wethenda esemthethweni, unciphise umthelela wamathuluzi okukhokha edijithali ayimfihlo, futhi uthuthukise isimo sethenda esemthethweni nokusebenza kwenqubomgomo yezimali.
Ukwenza ngcono isimo sethenda esemthethweni

Ngo-Ephreli 28, uSihlalo we-Fed u-Powell waphawula nge-digital renminbi: “Ukusetshenziswa kwayo kwangempela ukusiza uhulumeni abone konke okwenziwa ngesikhathi sangempela.Kuhlobene kakhulu nalokho okwenzeka ohlelweni lwabo lwezezimali kunokubhekana nokuncintisana kwamanye amazwe.”

U-Yao Qian ukholelwa ukuthi “ukusiza uhulumeni ukuthi abone konke okwenziwa ngesikhathi sangempela” akusona isisusa sokuhlolwa kwemali yedijithali yebhange elikhulu laseShayina.Izindlela zokukhokha ezingezona zemali zenkampani yangaphandle ezifana ne-Alipay ne-WeChat amaShayina abesenesikhathi eside ejwayele ukuthi abone ngobuchwepheshe ukubonakala kwazo zonke izinto ezenzeka ngesikhathi sangempela, okuphinde kwaholela ekuvikelweni kobumfihlo bedatha, ukungaziwa, ukuba yedwa, ukubeka izinto obala kokulawula nokunye. izindaba.I-RMB nayo ithuthukiselwe lezi zinkinga.

Ngokuvamile, ukuvikelwa kobumfihlo kanye nokungaziwa kwabasebenzisi nge-digital renminbi kuyinto ephezulu kakhulu phakathi kwamathuluzi okukhokha amanje.I-renminbi yedijithali yamukela idizayini “yenani elincane lokungaziwa kanye nokulandeleka kwenani elikhulu”."Ukungaziwa okulawulekayo" kuyisici esibalulekile se-digital renminbi.Ngakolunye uhlangothi, ikhombisa ukuma kwayo kwe-M0 futhi ivikela ukuthengiselana okunengqondo komphakathi okungaziwa kanye nokuvikelwa kolwazi lomuntu siqu.Ngakolunye uhlangothi, futhi kuyisidingo esihlosiwe sokuvimbela, ukulawula kanye nokulwa nokushushumbiswa kwemali, ukuxhaswa kwamaphekula, ukubalekela intela kanye nezinye izenzo ezingekho emthethweni nezobugebengu, kanye nokugcina ukuphepha kwezezimali.

Mayelana nokuthi imali yedijithali yebhange eliphakathi izobekela inselele yini isimo sedola laseMelika njengohlobo lwemali yomhlaba wonke, uPowell ukholelwa ukuthi jikelele asikho isidingo sokukhathazeka kakhulu.U-Yao Qian ukholelwa ukuthi isimo semali yamazwe ngamazwe sedola laseMelika sakhiwe ngokomlando, futhi izinkokhelo eziningi zohwebo lwamazwe ngamazwe nezeqa imingcele okwamanje zisekelwe kumadola aseMelika.Nakuba ezinye izinhlamvu zemali zomhlaba wonke, ezifana ne-Libra, zihlose ukuxazulula amaphuzu ezinhlungu ezinkokhelo eziwela umngcele, ukwenza buthaka isimo semali yamazwe ngamazwe sedola laseMelika akuwona umgomo we-CBDC.Ukwenziwa kudijithali kwezinhlobo zemali ezizimele kunomqondo wako ongokwemvelo.

"Ekuhambeni kwesikhathi, ukuvela kwemali yedijithali noma amathuluzi okukhokha edijithali kungase kuguqule iphethini ekhona, kodwa lokho kuwumphumela wokuziphendukela kwemvelo ngemva kwenqubo yokwenza idijithali nokukhethwa kwemakethe."Kusho uYao Qian.

Mayelana nokuthi i-renminbi yedijithali njengemali esemthethweni yedijithali inokuphatha okungcono nokulawula umnotho waseShayina, u-Qian Jun, umqondisi omkhulu kanye noprofesa wezezimali e-Fanhai International School of Finance yaseFudan University, utshele intatheli yethu ukuthi i-digital renminbi ngeke ngokuphelele. buyisela imali ngesikhathi esifushane., Izinguquko ezingaba khona zinkulu uma kuqhathaniswa.Esikhathini esifushane, i-China izoba namasethi amabili ezinhlelo zemali ngokuhambisana, enye iwukukhokhelana kahle kwe-renminbi yedijithali, kanti enye iyimali yamanje esakazwayo.Esikhathini esimaphakathi neside, ukwethulwa kanye nokuqanjwa okusha kobuchwepheshe uqobo nakho kudinga uguquko oluhlelekile nokuthuthukiswa kanye nokudidiyelwa kwezinhlelo ezahlukene;umthelela kunqubomgomo yezimali uzovela esikhathini esimaphakathi nesikhathi eside.
Ukugxila kwe-RMB R&D yedijithali

Emhlanganweni oshiwo ngenhla, u-Yao Qian uveze amaphuzu ayisihluthulelo ayisikhombisa okufanele ucwaningo lwemali yedijithali yebhange elikhulu nokuthuthukiswa kwawo kubhekwe.

Okokuqala, ingabe umzila wezobuchwepheshe usekelwe kuma-akhawunti noma amathokheni?

Ngokwemibiko yomphakathi, i-renminbi yedijithali ithathe umzila we-akhawunti, kuyilapho amanye amazwe ekhethe umzila wobuchwepheshe bemali ebethelwe omelwe ubuchwepheshe be-blockchain.Izindlela ezimbili zobuchwepheshe ezisuselwe ku-akhawunti kanye nezisekelwe kumathokheni akubona ubudlelwano bokuthi konke noma-lutho.Empeleni, amathokheni nawo ayi-akhawunti, kodwa uhlobo olusha lwe-akhawunti-i-akhawunti ebethelwe.Uma kuqhathaniswa nama-akhawunti endabuko, abasebenzisi banokulawula okuzimele okunamandla phezu kwama-akhawunti abethelwe.

U-Yao Qian uthe: “Ngo-2014, senza ucwaningo olunzulu ngezimali ze-crypto currencies ezibekwe phakathi nendawo, okuhlanganisa i-E-Cash ne-Bitcoin.Ngomqondo othile, ukuhlolwa kokuqala kwemali yedijithali ye-People's Bank of China kanye nombono we-cryptocurrency uyafana.Sibheke ngabomvu ukulawula ukhiye we-cryptocurrency esikhundleni sokuphambukela.”

Ngaphambilini, ibhange elikhulu lalisungule uhlelo lwemali yedijithali yebhange elimaphakathi elisezingeni elilingana nokukhiqizwa okusekelwe ohlelweni olukabili “lwebhange elimaphakathi nelebhizinisi”.Nokho, ekuhwebeni okuphindaphindiwe kokuqaliswa, ukukhetha kokugcina kwakuwukuqala ngomzila wezobuchwepheshe osuselwe kuma-akhawunti avamile.

U-Yao Qian ugcizelele: “Kudingeka sibheke ukuthuthukiswa kohlobo lwemali yedijithali yebhange eliyinhloko ngombono oguquguqukayo.Ngokuthuthuka okuqhubekayo nokuvuthwa kobuchwepheshe, imali yebhange eliphakathi nayo izodonsa ubuchwepheshe obuhlukahlukene obuthuthukisiwe futhi ithuthukise ngokuqhubekayo uhlelo lwayo lwezakhiwo zobuchwepheshe.”

Okwesibili, uma kunqunywa inani lemfanelo ye-renminbi yedijithali, ingabe ibhange elikhulu linesikweletu ngokuqondile noma i-ejensi yokusebenza inesikweletu?Umehluko obalulekile phakathi kwalokhu kokubili ukukholomu yesikweletu seshidi lebhalansi yebhange elimaphakathi, elirekhoda imali yedijithali yebhange elimaphakathi lomsebenzisi noma inqolobane ye-ejensi esebenzayo.

Uma i-ejensi esebenzayo ifaka u-100% wesikhwama esibekiwe ebhange elikhulu futhi isisebenzisa njengendawo yokugcina imali ukuze ikhiphe imali yedijithali, imali yebhange elimaphakathi ibizwa ngokuthi i-CBDC yokwenziwa emhlabeni jikelele, efana nohlelo lwasebhange olukhipha amanothi e-Hong Kong. .Lo mfanekiso udale ukukhathazeka koCwaningo ezikhungweni eziningi ezihlanganisa iBhange Elikhulu LaseChina kanye ne-International Monetary Fund.Amanye amazwe asasebenzisa imodeli yezikweletu eziqondile zebhange eliphakathi.

Okwesithathu, ingabe i-architecture yokusebenza inezigaba ezimbili noma i-single-tier?

Njengamanje, ukwakheka kwezigaba ezimbili kancane kancane kwenza ukuvumelana phakathi kwamazwe.I-Digital RMB nayo isebenzisa isistimu yokusebenza enezigaba ezimbili.U-Yao Qian uthe ukusebenza kwezigaba ezimbili nokusebenza kwesigaba esisodwa akuyona enye indlela.Zombili ziyahambisana kubasebenzisi abangakhetha kuzo.

Uma imali yedijithali yebhange elikhulu isebenza ngokuqondile kumanethiwekhi e-blockchain afana ne-Ethereum ne-Diem, ibhange elikhulu lingasebenzisa izinsizakalo zalo ze-BaaS ukuze linikeze ngokuqondile imali yedijithali yebhange elikhulu kubasebenzisi ngaphandle kwesidingo sabalamuli.Ukusebenza kwesigaba esisodwa kunganika amandla imali yedijithali yebhange elikhulu ukuze kuzuze amaqembu ngaphandle kwama-akhawunti asebhange futhi kuzuze ukufakwa kwezimali.

Okwesine, ingabe i-digital renminbi inenzalo?Ukubalwa kwenzalo kungase kuholele ekudlulisweni kwezimali ezifakwa emabhange ezentengiselwano ziye ebhange eliyinhloko, okuholela ekuncipheni kwamandla esikweletu salo lonke uhlelo lwamabhange futhi kube “ibhange elincane”.

Ngokusho kokuhlaziywa kuka-Yao Qian, eminyakeni yamuva nje, amabhange amaphakathi abonakala engawesabi kangako umthelela wamabhange we-CBDC.Isibonelo, umbiko wedijithali we-euro yedijithali ye-European Central Bank uhlongoze uhlelo lokubala lenzalo olubizwa ngokuthi yi-hierarchical interest calculation, olusebenzisa izilinganiso zenzalo eziguquguqukayo ukubala inzalo kuma-euro ahlukene edijithali ukunciphisa umthelela ongaba khona we-euro yedijithali embonini yasebhange, ukuzinza kwezezimali, kanye nokudluliselwa kwenqubomgomo yezimali.I-renminbi yedijithali okwamanje ayicabangi ukubala inzuzo.

Okwesihlanu, ingabe imodeli yokukhishwa kufanele kube ukukhishwa okuqondile noma ukushintshaniswa?

Umehluko phakathi kokukhishwa kohlobo lwemali nokuhwebelana ukuthi eyokuqala iqalwa yibhange elikhulu futhi ingeyokuhlinzeka ngokusebenza okusebenzayo;lena yakamuva iqalwa ngabasebenzisi bemali futhi ishintshisana ngokufunwa.

Ingabe ukukhiqizwa kwemali yedijithali yebhange elimaphakathi kukhishwa noma kuyahwetshwa?Kuncike ekumeni kwayo nasezidingweni zenqubomgomo yezimali.Uma kungukushintshwa kwe-M0 kuphela, kusho ukuthi kuyafana nokheshi, okushintshaniswa ngokufunwa;uma ibhange elikhulu likhipha izimali zedijithali ezimakethe ngokuthengwa kwempahla ukuze kufinyelelwe izinhloso zenqubomgomo yezimali, kungukukhishwa kwesilinganiso esinwetshiwe.Ukukhishwa okunwetshiwe kufanele kuchaze izinhlobo zezimpahla ezifanelekayo futhi kusebenze ngamanani afanele nezintengo.

Okwesithupha, ingabe izinkontileka ezihlakaniphile zizowuthinta umsebenzi wesinxephezelo esisemthethweni?

Amaphrojekthi ocwaningo lwemali yedijithali yebhange elimaphakathi olwenziwa yi-Canada, Singapore, European Central Bank, kanye neBhange LaseJapan wonke azame ngezinkontileka ezihlakaniphile.

U-Yao Qian uthe imali yedijithali ngeke nje ibe ukulingiswa okulula kwemali ebonakalayo, futhi uma izinzuzo "zedijithali" zizosetshenziswa, imali yedijithali yesikhathi esizayo izodlulela emalini ehlakaniphile.Izimo zangaphambilini zezinhlekelele zesistimu ezidalwe ukuba sengozini kwezokuvikela kuzinkontileka ezihlakaniphile zibonisa ukuthi ukuvuthwa kobuchwepheshe kudinga ukuthuthukiswa.Ngakho-ke, imali yedijithali yebhange eliphakathi kufanele iqale ngezinkontileka ezihlakaniphile ezilula futhi kancane kancane yandise amandla ayo ngesisekelo sokucatshangelwa ngokugcwele kwezokuphepha.

Okwesikhombisa, ukucatshangelwa kokulawula kudinga ukulinganisa phakathi kokuvikela ubumfihlo nokuhambisana nomthetho.

Ngakolunye uhlangothi, i-KYC, ukulwa nokushushumbisa imali, ukuxhasa ngezimali amaphekula, kanye nokugwema intela kuyiziqondiso eziyisisekelo okufanele zilandelwe yimali yedijithali yebhange elikhulu.Ngakolunye uhlangothi, kuyadingeka ukucabangela ngokugcwele ukuvikelwa kobumfihlo bomuntu siqu babasebenzisi.Imiphumela yokubonisana nomphakathi kwe-European Central Bank mayelana ne-euro yedijithali iphinde ibonise ukuthi izakhamuzi nezingcweti ezihilelekile ekuboniseni bakholelwa ukuthi ubumfihlo buyisici esibaluleke kakhulu somklamo we-euro yedijithali.

U-Yao Qian ugcizelele ukuthi emhlabeni wedijithali, ubuqiniso bobunikazi bedijithali, izindaba zobumfihlo, izinkinga zokuphepha noma iziphakamiso ezinkulu zokuphatha umphakathi zidinga ukuthi senze ucwaningo olujulile.

U-Yao Qian uphinde waveza ukuthi ucwaningo nokuthuthukiswa kwemali yedijithali yebhange eliphakathi kuyiprojekthi eyinkimbinkimbi yesistimu, engeyona nje inkinga emkhakheni wezobuchwepheshe, kodwa futhi ihilela imithetho neziqondiso, ukuzinza kwezezimali, inqubomgomo yezimali, ukuqondiswa kwezezimali, ezezimali zamazwe ngamazwe kanye eminye imikhakha ebanzi.Idola lamanje ledijithali, i-euro yedijithali, ne-yen yedijithali kubonakala kudlondlobala.Uma kuqhathaniswa nazo, ukuncintisana kwe-renminbi yedijithali kudinga ukucatshangelwa okwengeziwe.