People’s Bank of China Takes Lead in the Launch of Digital Currencies
Despite worldwide controversy, the current of technological innovation has pushed digital currencies into the spotlight. At present, in the field of digital currency, the main competitors are the central banks of different countries, and the People’s Bank of China may become a leading player. After three years of silence, China’s central bank has quietly accelerated the development of fiat digital currencies. Some scholars believe that China’s central bank is likely to become the pioneer in digital currencies. The People’s Bank of China has been studying DCEP since 2014 and the system is almost ready to go.
DCEP (Digital Currency Electronic Payment) is an electronic currency developed by the People’s Bank of China. It is a type of DIGICCY. Led by the People’s Bank of China, the four major state-owned commercial banks in China, and the three major telecommunications operators all jointly participated in the central bank’s legal digital currency pilot projects, which may be carried out in Shenzhen and Suzhou. Obviously, the trial is only the first step. There is still a lot of work to be done in the future, and there will be challenges. But in the era of global digital currency, China is becoming a leader.
P2P Lending Platforms in Crisis
Recently, the Chinese capital market has been very turbulent, and various P2P lending platforms have continued to collapse, and yet these crises are far from over. As of December 5, the number and amount of bond defaults in 2019 reached new historical highs. Against the background of slowing economic growth, a large number of listed companies have experienced a decline in performance and their capital chains have broken. A person in charge of financing at a listed company said the difficulties faced by private enterprises are more serious than people imagine, and the collapse of P2P lending platforms will continue in the future.
Even good stocks that have been widely favored have fallen into crisis and turmoil. There are different reasons for the collapse of various types of P2P platforms, but the underlying cause is the tightening of liquidity and the slowdown of economic development. Overnight, the situation changed drastically. The liquidity crisis of listed companies requires debt restructuring and bailout funds to relieve them in the short term, but the crisis ultimately needs to be resolved in the capital market in the medium and long term.
E-Commerce Unlikely To Disrupt Vegetable Market
Since e-commerce started to get involved in the fresh food industry, waves of e-commerce projects that aspired to revolutionize the vegetable market have come and gone, but the vegetable market is still there, bustling every day.
The Internet is a representative of advanced productivity, and the “vegetable market” is a product of agricultural society. The shortcomings of the traditional vegetable market model and new consumer demand have made fresh food e-commerce suppliers see the possibility of overturning it. It should be easy for the former online model to win the competition over the latter. Some people in the industry once believed that fresh food products are mainly sold in supermarkets, and it is an inevitable trend to replace vegetable markets. But after many rounds of competition, vegetable markets have not disappeared and more people in the industry believe that they will endure.
Application of Face Recognition Technology Should Have Boundaries
Recently, some cold cases have been solved because the police have adopted various scientific and technological methods to help with the arrests, such as face recognition and big data applications. While the same use of face recognition technology, the installation of face recognition equipment in classrooms in some universities has caused widespread suspicion of violating student privacy.
Today, the applications of face recognition are becoming more and more abundant. Among the many legal experts interviewed by Caijing reporters, some support facial recognition and believe that the new technology has brought convenience, which is an unstoppable trend. Some are cautious about data leakage and privacy violations. However, there is a consensus that in the case of insufficient legal regulations on data storage, use and transfer, the application of face recognition technology should have limits.
