중국 인민 은행의 블록체인 기술 및 다가오는 CBDC 보고서

By NewsBTC - 2년 전 - 읽는 시간: 4분

중국 인민 은행의 블록체인 기술 및 다가오는 CBDC 보고서

분명히 중국 인민 은행은 디지털 위안 CBDC에 전력을 공급하기 위해 블록체인 기술을 사용하는 것을 고려하고 있습니다. 디지털 인민폐 또는 디지털 RMB라고도 하는 이 코인은 현재 베타 테스트 중입니다. 그러나 중국 인민 은행의 디지털 통화 연구소 부국장인 Di Gang은 최근 블록체인 기술에 대한 광범위한 보고서를 발표했습니다. 18월 5일 열린 '제XNUMX차 국제금융포럼(IFF) 글로벌 회의'에서 중국 언론인 콜린 우가 우리가 분석할 요점을 번역했다. 

Related Reading | How Samsung Will Help The Bank Of Korea With CBDC Development

Before we do that, let’s consider this. Their CBDC is a completely centralized affair. Why would the People’s Bank Of China use a blockchain? In other words, why would China need a blockchain for its CBDC if its aim is not decentralization or censorship resistance? A centralized database is orders of magnitude more efficient than a blockchain. And it doesn’t need mining to validate transactions, nor PoW or PoS to reach consensus. Let’s dive into the report and see if we can find answers to these questions.

What Does The People’s Bank Of China Think About Blockchain Tech?

The report begins with stats and a survey’s results:

“According to Di Gang, 2021, the results of blockchain research conducted by relevant consulting organizations for ten countries, including the United States, the United Kingdom, Singapore, Germany, China and Japan, show that 81% of the institutions surveyed believe that blockchain technology is widely scalable and is being adopted by the mainstream, with the percentage of financial institutions agreeing with it being as high as 84%, and all the global financial institutions surveyed have made blockchain an an imperative strategic priority.” 

Notice that they talk about belief and about making blockchain a priority, but not about actual usage among traditional financial institutions. The report does go on to say that “A research institute in September 2021, research on the use of blockchain by the global TOP 100 listed institutions shows that 81 institutions are using blockchain technology,” but no source is given. Where are those projects? Are they still in development?

Then, Di Gang claims: 

“Blockchain landing achievements are increasing and playing more and more value advantages; on the other hand, blockchain technology has realized landing in cross-border payment, supply chain finance, agricultural finance, trade finance, inclusive finance, social city, “three rural areas”, people’s livelihood, etc.”

Are these crypto-projects, government-related, or traditional finance projects? The report doesn’t specify, so we can’t know their characteristics. Then, Di Gang says “Some large international financial institutions are also actively expanding blockchain application scenarios, including trade finance, information sharing, foreign exchange trading, equity trading, etc.” Why do those institutions need a blockchain to do all that?

Does The Digital RMB Or Digital Yuan Need a Blockchain?

Apparently, it does. And the Numerical Research Institute is already working on an implementation:

“First, a unified distributed ledger was built in the digital RMB system based on blockchain technology. The central bank acts as a trusted institution to upload the transaction data onto the chain to guarantee the authenticity and reliability of the data, and the operating institutions can conduct cross-institutional reconciliation, collective maintenance of the ledger, multi-point backup, etc.”

The Institute wants to build a “blockchain platform for trade finance, with the goal of penetratable information, transferable trust and shareable credit, and to complete the construction of a blockchain-based trade finance ecosystem.”

FXCM을 통한 미국 달러와 중국 위안의 관계 | 출처: TradingView.com의 USD/CNH 블록체인 기술의 기술적 과제

The People’s Bank Of China identified the following difficulties with blockchain technology:

성능 및 확장성 문제. 개인 정보 보호가 충분하지 않습니다. Di Gang은 "이론적 수준의 혁신과 엔지니어링 기술의 혁신이 여전히 필요합니다."라고 말했습니다. "보안 기술 혁신을 더욱 강화"해야 합니다. “규제 감사의 관점에서 Di Gang은 블록체인 내부에 분산화로 감독하기 어려운 익명화되고 밀집된 노드가 여전히 많이 있다고 믿습니다.” 블록체인 기술과 기존 기술 사이에는 기술적 마찰이 있습니다. 누군가는 상호 운용성 표준 시스템을 구축해야 합니다.

So, essentially the same problems every crypto company already identified plus one, “regulatory auditing” which is “difficult to supervise by decentralization.” Is it fair to say that this is what this report is really about? 

Related Reading | Central Bank of France Tests Blockchain-Backed CBDC Targeting Debt Market

The People’s Bank Of China Will Release Their CBDC For The Winter Olympic Games

Apparently, the PBOC’s plan to further test the Digital RMB during the Winter Olympic Games is still a go. Di Gang said:

“The digital RMB has been piloted since the end of 2019 and is now being piloted in 10 regions and the 2022 Beijing Winter Olympic Games scenario, and in July this year, the PBoC released the White Paper on the Progress of R&D of China’s Digital RMB, and as an important part of the digital RMB R&D pilot and the Winter Olympic Games preparation, the pilot of the digital RMB Beijing Winter Olympic Games scenario is also is advancing in a steady and orderly manner.”

And that’s where China currently stands regarding blockchain technology and their CBDC.

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