Zou chuanwei: DC/EP does not use the real blockchain, but the key attribute is similar to the Token in the blockchain

Zou chuanwei, the chief economist of wan xiang blockchain and PlatON, made five speculations on the design of DC/EP in the online open class "the impact of blockchain on payment and clearing system" of honeycomb college, including Token paradigm, centralized ledger based on UTXO mode, DC/EP wallet, transaction and implementation strategy. The details are as follows:

1. Account loose coupling =Token paradigm: DC/EP does not use real blockchain as Libra does, but is similar to intra-blockchain Token in key attributes such as non-double-flowerability, anonymity, non-forgery, security, transitivity, separability, and programmability.

2. DC/EP USES a centralized ledger based on the UTXO model: this centralized ledger is embodied as a digital currency issuance registration system, maintained by the central bank, does not need to run a consensus algorithm, and is not subject to the performance bottleneck of the block chain. Distributed ledger with r digital currency to confirm the right to register, in a secondary position.

3. DC/EP wallet: users need to use the DC/EP wallet, the core of which is a pair of public and private keys. The public key is also the address that holds the digital certificate of RMB. This digital certificate is issued based on 100% RMB reserves. Users can see the addresses of other users, but not necessarily know the identity of the address owner, while the central bank knows the correspondence between the address and the user's identity through the digital currency registration center managed by the central bank.

4. DC/EP transaction: users can initiate inter-address transfer transactions through the wallet private key. The DC/EP transfer transaction is not broadcast to a peer-to-peer network like a public chain transaction and then bundled into the block by miners and run the consensus algorithm, but is recorded directly by the central bank in a centralized ledger.

5. Implementation strategy: wholesale to general target, domestic to cross-border payment.

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