1. What are DCEP and Bitcoin DCEP? DCEP is a digital version of RMB developed by the People's Bank of China, that is, digital version of cash, which has the same value as cash. It can be said that it is the most liquid currency type and is officially recognized; Bitcoin is different. It is recognized as virtual currency and has no direct equivalent value. Moreover, the centralization of bitcoin is very serious, and the total amount is fixed, which cannot exceed 2 1 10,000. Although they are all named digital currency, they are obviously different in essence. One is an official product, and the other is a virtual product, which has no legal status of money.
2. The difference between the two is that DCEP is digital RMB. Simply put, it is the digital version of RMB. It is the official currency issued by the People's Bank of China and has the same legal status. Bitcoin has no legal status and belongs to a completely centralized virtual commodity. We can say that digital RMB is real money, while bitcoin is equivalent to stocks or funds. The former has little floatability and is equivalent to a coin. The latter is highly volatile, with too much investment, and may become rich at once or lose everything in an instant.
3. Credit Risk There is no credit risk in digital currency and Bitcoin, but the reasons are different. The former is digital currency with national endorsement, which is very safe. The latter is a non-credit currency and has no credit risk at all. It is precisely because of this that Bitcoin has no time and amount restrictions. Many people regard it as an investment, and digital RMB is a common currency.