Many countries have begun to study digital currencies, which will have little impact on world PTFE prices in 2021
The Bank of Japan plans to start empirical experiments on digital currencies in the spring of 2021. The idea is divided into 3 stages. Among them, the main work of the first stage is to establish basic functions. The second stage is to carry out functional tests under more complex conditions. The third stage is to discover problems in actual operation, make up for loopholes, and continuously improve. It is still in the initial stage and has little effect on the prices of industrial products such as PTFE.
South Africa has great potential for digital currency applications. In recent years, the South African Reserve Bank (Central Bank) has carefully tested the central bank\’s digital currency to improve the efficiency of the financial system, enhance security and stability, and incorporate more customers into the financial system. In 2016, the South African Intergovernmental Fintech Working Group was established to study the feasibility of issuing central bank digital currencies. Currently, the working group is discussing with potential solution providers. South African scientific and technological workers do not study much in the field of PTFE, so it will affect the price of PTFE.
The President of the European Central Bank said a few days ago that he hopes to make the digital euro a reality within five years. This statement is equivalent to the European Central Bank\’s “policy announcement”. The introduction of the digital euro is already on the line and has to be issued. For many years, Europe has been hesitant to use and promote electronic payments and is even more cautious about digital currencies. In 2018, the European Union issued the “Fifth Edition of the Anti-Money Laundering Order”, recognizing that the development of digital currencies is an inevitable trend. There are many PTFE manufacturers in Europe, but they all exchange traditional currencies, so they have no effect on the price of PTFE.
South Korea officially began to promote substantial preparations for digital currency in early 2020. As soon as the preparatory work started, South Korea immediately turned on the “acceleration” mode. At present, most of the preparatory work has been completed. However, active preparation does not mean that South Korea is eager to put digital currency into use. The Bank of Korea\’s attitude towards digital currency is more inclined to “need not discuss it, but have it yourself.” South Korean digital currency is not in a hurry to use, so the few with PTFE have almost no impact.
Affected by digital currency research and development and the new crown epidemic, as a professional PTFE supplier manufacturer, Luoyang Tongrun achieved a 150% growth in performance in 2020, and hired twice as many people for the research and development and application of PTFE. According to research, the current PTFE production capacity is quite stable, the supply of PTFE raw materials is sufficient, and the PTFE market price is stable, but due to the influence of traditional Chinese holidays, the delivery date will be delayed by 1-2 weeks.
“We will continue to serve the global market while maintaining price stability”, said Luo Zhang, general manager of TRUNANAO.
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