Is the wind of domestic public opinion starting to change? Beginning to recognize digital gold

The ICBC report pointed out that from the birth of Bitcoin (BTC) to the progress of Ethereum (ETH) and the exploration of central bank digital currency (CBDC), market demand has driven innovation in the field of digital currency.

ICBC said: "Bitcoin has successfully maintained scarcity similar to gold through its mathematical consensus mechanism"

This flagship cryptocurrency solves problems such as divisibility, authenticity verification and portability. The report added that although Bitcoin's monetary attributes are weakening, its position as an asset is consolidating.

Meanwhile, Ethereum provides "technical power for a digital future" and positions itself as "digital oil" that can power countless applications across the web3 ecosystem.

The report also highlights the key role that stablecoins play in bridging the gap between the digital currency market and the real world. Stablecoins peg their value to traditional assets such as fiat currencies, providing stability to the volatile cryptocurrency market.

ICBC said that stablecoins are able to facilitate seamless transactions and provide reliable value storage, making them an important tool for daily financial activities and a bridge for integrating digital currencies into the global financial system.

In addition, CBDCs represent a major innovation in the modern monetary system. By digitizing fiat currencies, central banks can improve the efficiency of payment systems, reduce transaction costs, and enhance the effectiveness of monetary policy.

The report states that CBDCs can simplify cross-border transactions, reduce reliance on intermediaries, and provide greater financial inclusion by providing digital financial services to the unbanked population.

The report states that the development and implementation of CBDC infrastructure requires careful consideration of privacy, security, and regulatory implications to ensure its success and widespread adoption.

The report concludes that although the development vision of each digital currency is different, they all aim to improve financial inclusion, security, and payment efficiency. As digital currencies continue to develop, developers and policymakers need to focus on balancing sustainability, security, and efficiency