China’s dynamic: (1) the second batch of 16 members of the meta universe Industry Committee of China Mobile Communication Federation were announced. (2) The only “spark · chain network” super node in Northeast China has been put into trial operation in Shenyang. On January 15, the only “spark · chain network” super node (Shenyang) in Northeast China was officially put into trial operation. Industrial enterprises in Liaoning will take this “digital high-speed railway” to realize the circulation of various industrial data, so as to accelerate the digital transformation of industry. (3) Digital RMB pilot: 260 million personal wallets were opened, with a transaction volume of more than 87.5 billion. The Information Office of the State Council held a press conference on financial statistics in 2021. Zou LAN, director of the financial market department of the people’s Bank of China, said that at present, the people’s Bank of China has carried out digital RMB pilot projects in Shenzhen, Suzhou, xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian and other places and in the scene of the 2022 Beijing Winter Olympic Games, basically covering the “Yangtze River Delta“, “Pearl River Delta”, “Beijing Tianjin Hebei” Central, western, northeast, northwest and other different regions.
Overseas developments: (1) the Federal Reserve released its first digital currency white paper. The report proposes that CBDC will help speed up the electronic payment system when financial transactions around the world have been highly digitized; However, there are also some adverse problems, including financial market risk, privacy protection, cyber fraud and other illegal issues. (2) The Russian Central Bank proposed to ban the use and mining of cryptocurrency in Russia. The move is the latest global move to crack down on cryptocurrency. Governments from Asia to the United States are worried that private operation and highly volatile digital currency may undermine the authorities’ control over the financial and monetary system.
Risk tips
The implementation process of digital RMB and CBDC in various countries is less than expected; Regulatory uncertainty of blockchain application; Blockchain infrastructure construction was not as expected.
