DCEP Showcase & Discussion

[Internet.Domains]

China has introduced DCEP (digital currency electronic payment).

Showcase & Discussion


https://u.today/just-in-chinese-central-bank-to-launch-digital-currency-called-dcep


https://twitter.com/i/status/1188833882298183680

 

[JimmySun]

Do they even need or want English Domains anymore?

I’m not sure if the Chinese will ever dance to anyone else’s tune ever again.

That is unless the U.S pull a Rabbit out of a hat and give them some competition. Which after the embarrassment the US Congress made of themselves as they cross examined Zuckerberg last week is looking increasingly unlikely.

However, there is hope. Mark Carney, the Bank of England governor, has said that the world’s reliance on the US dollar “won’t hold” and needs to be replaced by a new international monetary and financial system based on many more global currencies.

There’s something going on for sure as US regulators (CFTC, FDIC, and the SEC) have just team up with The U.K’s top watchdog’s global financial technology sandbox. In a joint release, the regulators announced that they had joined the Global Financial Innovation Network (GFIN) seeking to identify the opportunities, challenges and risks facing the fintech industry.

They had just better get their skates on.

If China successfully spread out the DCEP for those countries that need "made in China" import and export using it then it's the global things, not just for Chinese end-users, to get over the USD is China's main priority.

 

[Furquan]

Dcep.co.in

It was in my cart right after Cz_Binance shared it. But then I passed.

Good luck anyway.

 

[JimmySun]

The Chinese biggest search engine the "Baidu wiki" you can see they've already definate the meaning of DCEP on Oct 28th, in official news they call it "world currency".

 

[Blitzpotz]

"Baidu wiki"

Interesting! I should start to learn Chinese. Before I do that , can you translate what your screenshot says to Libra, please?

 

[JimmySun]

Interesting! I should start to learn Chinese. Before I do that , can you translate what your screenshot says to Libra, please?

DCEP has everything you need to be a world currency. The difference is that DCEP, while retaining the advantages of Libra, offers a nearly perfect answer to the Libra's design flaw:
(1) DCEP and RMB are 1:1 convertible, supporting connection with the central bank; (2) DCEP adopts the two-tier system of commercial bank and central bank to adapt to the existing monetary system of sovereign countries in the world, the first layer is people bank to commercial bank, the second layer is commercial bank or commercial organization to public. (3) DCEP is a sovereign currency and an alternative to RMB, which can ensure that the existing monetary system still plays its role. The central bank's digital currency held by the public is still the central bank's liability, guaranteed by the central bank's credit, with unlimited legal compensation.

More info:
What are the features of DCEP?
1. The value of DCEP is only linked to RMB. Unlike Libra's currency owned by facebook, DCEP is directly linked to the RMB.
2. DCEP has unlimited compensation. This means no matter how large the amount of payment, the other side can not refuse to accept.
3. DCEP can transfer without an account. DCEP does not need to be connected to the Internet. It can complete the transfer by installing DCEP digital wallet and touching each other's phones.
4. High security of assets. DCEP is issued directly by the central bank, and there is no problem of commercial Banks and enterprises failing.

 

[zibero]

DcepBank .org
DcepWallet .org

 

[Blitzpotz]

Thank you very much @Jimmysun

I was not aware that this is so much text. Otherwise I would not have asked.

A bit astonishing that China may see Libra as a competitor. No comparison with existing cryptocurrencies, no word about USD, EURO etc.

 

[Internet.Domains]

no word about USD, EURO

This much we do know, they (USD, EURO) are far behind. FedNow (USD) was recently introduced as a real time payment solution and it won't be ready until 2023-2024. In addition, FedNow does not have all the attributes that DCEP has. China wants to replace the dollar and DCEP is its opportunity, at least that is what China is thinking.

Disclaimer: I have been translating piles of Chinese sources.

 

[JimmySun]

Thank you very much @Jimmysun

I was not aware that this is so much text. Otherwise I would not have asked.

A bit astonishing that China may see Libra as a competitor. No comparison with existing cryptocurrencies, no word about USD, EURO etc.

No problem at all, yeah it's amazing they compare with Libra, maybe because Zuckerberg is a Jew and they knew he is a member of the biggest authority. The terrible thing is when China's authority announces something that the Chinese public has to achieve that means things will go faster than you think because of only one political party, like Alipay which only spent 1-2 years almost all the old people in China know how to use it.

 

[alienbaba]

Registered

dcep.移动

I assume it'll somehow be integrated into WeChat so this may be a useful domain..

 

[Tunababa8v]

The whitepaper says it is based on blockchain, so if it goes the way of bitcoin maybe this will do

DcepFaucet. com
DcepCoins .org

 

[Levi_charlz]

China will be followed by other nations embracing blockchain: Binance's CZ

https://eng.ambcrypto.com/china-will-be-followed-by-other-nations-embracing-blockchain-binances-cz

 

[Winfluence]

Anyone know if DCEP will have the ability to do smart contracts, dapps? It's not decentralized, but it is using a blockchain, so just curious

 

[Internet.Domains]

Anyone know if DCEP will have the ability to do smart contracts, dapps? It's not decentralized, but it is using a blockchain, so just curious

I believe smart contracts and dapps will be possible in the second layer of the two-tier distribution network. Although, much of the information out there seems to be unconfirmed as details remain elusive.

 

[Levi_charlz]

Very thorough article on the future of digital money.

https://en.bankenverband.de/newsroom/comments/programmable-digital-euro/

 

[illumy]

DCEP.com

 

[Internet.Domains]

DCEP.com

Is that yours? Tell us more.

 

[Tunababa8v]

DCEP.com

Have you been receiving big offers for this?

 

[illumy]

Have you been receiving big offers for this?

Depends on how you justify big.

 

[JimmySun]

Anyone know if DCEP will have the ability to do smart contracts, dapps? It's not decentralized, but it is using a blockchain, so just curious

I don’t think they will announce the public chain function because too many dapps out there couldn’t define whether it is legal but I do believe when dcep have been matured they will provide dcep foundation made by their own.