Former central bank vice governor Wu Xiaoling: digital currency can coexist with fiat money
On December 12~14, Sanya International Finance Forum held?, there is a quite remarkable sub forum of the conference theme, “digital money — from the information network to the value network”, which also marks the digital currency finally began to enter the mainstream view.
Today morning, to participate in the forum keynote guests former central bank vice governor, the Standing Committee of National People’s Congress Standing Committee, deputy director of the Finance Committee Wu Xiaoling, former vice president of Bank of Chinese Wang Yongli, China universal holding group vice chairman Xiao Feng, fire currency network founder and CEO Li Lin, “without the main currency: 2014 China digital currency Research Report” the author of sand money.
Vice president, former central bank is the National People’s Congress Standing Committee, deputy director of the Finance Committee Wu Xiaoling published on the digital currency view. She said:
“Monetary algorithm only to solve the credit problem, but if there is no suitable economic demand supply regulation mechanism, will not solve the fluctuation of the currency, it can become a financial product, financial assets, but can not be a good money. However, the coexistence of legal tender and private money is the norm of human society, private money can coexist with the digital form of electronic currency legal. Distributed information technology creates open source sharing information of Internet, we can also use this digital currency transfer technology, low cost and high efficiency value transfer.”
When the audience questions, block chain technology can replace the currency, Wu Xiaoling said, a country will not be allowed to be a digital currency instead of currency.
Wang Yongli, former vice president of China bank said the Internet clearing system to Internet Co gradually formed, Ali has 12 double the impact of the traditional settlement system. When it comes to exploring the super sovereign currency, Wang Yongli said, such as bitcoin, reboxetine currency such Internet monetary system needs to be verified, worth exploring, monetary development trend in the future is likely to be a super sovereign currency.
The discussion from the perspective of economic and financial theory in China Wanxiang holding group vice chairman Xiao Feng the development of digital currency, as the only one digital currency industry entrepreneurs, fire currency network founder and CEO Li Lin shows the relevant data of the industry, the current bitcoin market capitalization of about 30 billion yuan, to accept bitcoin businesses reached 10 or so, he also said that the digital currency bitcoin and technology is still in its early stages of development, a few years will be a period of the outbreak of the future. Li Lin also echoed the views of Wu Xiaoling, he believes that the encrypted digital currency is a cross age technology, traditional financial institutions worthy of attention and research, it will greatly enhance the efficiency of the traditional financial institutions.
About digital currency regulation, money from the tax on sand that the state regulation of our country at present, but new technology is unable to obtain the national protection and service.