Great Power Industry: You're a private company building an aircraft carrier?

The people of the East are very capable.

This bank doesn't engage in commercial activities. If you want to apply for a mortgage, you certainly wouldn't do business through this bank. It's used to formulate various monetary policies, issue instructions to various commercial banks, issue currency, and so on. Now, the emergence of a brand-new currency like Bitcoin has also attracted their attention.

With Bitcoin gaining global popularity, what policies should we formulate to respond?

Everyone expressed their opinions, and there were all sorts of different views, but... the final decision still depends on President Qin's arrival!

"Everyone, I'm here!"

Seeing Qin Chuan enter, Director Zhou finally smiled: "President Qin, welcome, welcome. What are your thoughts on the Bitcoin project?"

"This is just a scam, like many financial scams in the past," Qin Chuan said. "For example, they discover a mine, but don't have the money to mine it, so they raise funds and then run away with the money. This time it's just a different high-tech method."

Many people were shocked.

They were all very optimistic about this currency, and some even supported exchanging Bitcoin for RMB. But President Qin made the final decision: it was a scam!

"Bitcoin has no fixed issuer. On the surface, anyone can make it and it circulates all over the world, which seems great. However, it is not regulated by governments, which opens backdoors for many underground activities. For example, in the United States, black market transactions have already started to use Bitcoin."

Qin Chuan looked at everyone and said, "If we allow this thing to exist, our country will become more chaotic and financial regulation will be more difficult. Therefore, I suggest that we ban this kind of currency. Bitcoin, this kind of money-making scam, should not exist in our East!"

Yang Xue looked at Qin Chuan with a complicated expression.

This idea was proposed by Marx, who originally intended to harvest the wealth of the Western world. It's just a tool. We absolutely cannot use it domestically, so as to avoid our own financial risks. We should apply two different standards to the domestic and foreign markets!

"Ban?"

"That's right, a complete ban. Our Laiyang Group will also make a public statement to expose this Bitcoin scam. At the same time, we will strictly prohibit the use of our Loongson computers for mining!"

It's strictly prohibited domestically, but as for abroad... well, that's none of our business!

“Alright.” Director Zhou nodded. “We will seriously consider your opinion, President Qin. Does this mean we should refuse to use electronic currency?”

"No, no." Qin Chuan shook his head: "What we want to reject is Bitcoin, a kind of online virtual currency. As times develop, we should also have our own electronic currency. We can also issue a digital currency of RMB."

In later generations, when discussing electronic currency, some people will try to confuse right and wrong, saying that Bitcoin and the digital currency of RMB are the same, both being electronic currencies, and that Bitcoin also has value, etc.

These two are fundamentally different.

Bitcoin is not regulated by central banks. It is a type of currency on the computer network. Because of this currency, it can be used for transactions such as money laundering. However, the digital yuan is different. It is actually the yuan, but it saves the effort of printing. It can be used on the internet.

Each digital yuan has its corresponding value; it is a real yuan.

Bitcoin has value if you say it has value, and it's just a game of musical chairs if you say it has no value.

"A digital currency for the RMB?"

"That's right, everyone. The internet age is rapidly approaching, and industries like online shopping will flourish. If our people were to issue a currency specifically for online use, it would promote online transactions..."

If banks don't change, someone else will. After all, there needs to be an advanced online payment method. It's better to entrust your money to a bank than to let a third party profit from it—of course, if the bank doesn't have the capability…

Online shopping?

"Yes, a new era has arrived. In the future, physical stores will shrink. For example, Zhongguancun is booming now, but it will quickly decline in a few years."

Many brick-and-mortar store owners curse when they talk about online stores. Their stores used to be thriving, but since online stores came along, their business has been declining. They used to earn enough to buy a house in a year, but now they can't even earn enough to buy a bicycle!

However, that's how times are; as things develop, a group of people will always be eliminated.

Some brick-and-mortar store owners were the first to notice this change and quickly opened online stores. Those who made early moves were the first to reap the rewards online, while those who entered later could only get scraps.

Moreover, the exorbitant profits of physical stores are based on many preconditions. Take Zhongguancun for example; it is always associated with unscrupulous merchants. With the advent of online shopping, the prices of various products are readily available, leaving no room for unscrupulous merchants to survive. Of course, online stores will also encounter various problems in the later stages, but overall, they are much better than physical stores.

The development of online stores will also stimulate the progress of physical stores. Later, when physical stores offer the same prices as online stores but give away more freebies, many people will switch to physical stores again. This is a spiral process of progress and improvement.

Online shopping requires online payment methods, which were previously settled through third-party platforms. Now, with the digital yuan, payments can be made directly online, and this financial security is more guaranteed.

What Qin Chuan said was completely new to many of the people present. Listening to Qin Chuan's introduction felt like opening a new door.

"Internationally, the digital yuan also has great uses. When shopping abroad, if the country accepts our yuan for settlement, we can use the digital yuan directly, which saves customs the trouble of inspection. Our yuan will be spent abroad sooner or later..."

Promoting the internationalization of the RMB is of great significance!

Back then, international settlements were extremely cumbersome and required various systems. Now, thanks to the international internet, it's entirely possible to bypass these systems and complete cross-border settlements!

"President Qin, now that you mention it, it seems we really need to get our digital yuan going," said Director Zhou.

"Yes, the two can be combined: on the one hand, strictly ban Bitcoin, and on the other hand, launch our digital currency..."

Qin Chuan realized he had a lot to worry about! However, since he was the one who created Bitcoin, he naturally had to clean up the mess.