During the week of 15 November, SHBS students embarked on a range of intensive inquiry- and project-based learning programs that took them out of traditional classrooms and into the amazing city they call home. For this second year of Building Shanghai, the program theme is sustainability-- what’s required to confront our global climate emergency to continue thriving in the future.
Every group explored an essential aspect of Shanghai’s economy and culture, with a focus on how innovation, conservation, and adaptation can address pressing environmental concerns—with topics including Ecological Diversity, Design of Internet of Things on Campus, Modern Agriculture and Organic Agriculture, Green Energy, The Fate of Garbage, Hospitality and Tourism, Environmental Ethics of Art and so on.
Let's have a look at the E-currency group!
Currencies play an important role in social and economic activities. Since their issuance and production consumes resources, they are strictly regulated. In the past few years, mobile payment has risen rapidly in China and is now used almost wherever payment is required. Since 2020, China has also started to introduce digital currency in some cities.Will e-currencies completely replace paper ones in the future? Can the negative effects of currency production on the environment be completely eliminated?
On November 15, the 1st day of “Building Shanghai” week, our group members searched for and studied some basic knowledge at school, including the history of ancient Chinese currencies, digital RMB, mobile payment and bitcoin, so as to lay a foundation for on-the-spot study trip in the following two days. Questions needed to be studied: 1) In the process of producing currencies, what costs will be incurred, and what effects will it have on the environment? 2) How is digital RMB different from mobile payment as well as from Bitcoin? How will it influence traditional means of payment?
On the morning of Nov.16, the second day, our group members visited the currency Gallery on the 4th floor of Shanghai Museum. That afternoon, we went to The Shanghai Mint, where led and introduced by Director Chai, we visited the museum in the Mint and got further understanding of the history of Chinese currency and the process and techniques of making coins.
On Nov.17, the third day of the week, we visited the Changshou Road Social Organization Service Center, where Ms.Jing Lin, the product manager of Bank of China, Putuo Branch, popularized digital RMB for students and let them try how to use digital RMB. That afternoon, we put what we learned in the morning into practice by conducting a questionnaire survey on payment habits and promotion of digital RMB near the Changshou Street,as well as promoting digital RMB to people and businesses in the community.
On Nov.18, the fourth day, all group members began making summaries based on their own group work. The thesis team started to analyze data, collect all the information needed for a bilingual thesis. The video team also collected all the video clips and photos shot for making PPT and videos. All of us were doing our best for Friday's presentation.
As the digital form of legal currency, the DIGITAL RMB will lead the digitization, electrification and new energy of life and production activities through digital technologies such as 5G, artificial intelligence, blockchain, cloud computing, big data and the Internet of Things, and promote the high-quality development of the economy in a green and low-carbon direction. The digital RMB itself is a green currency.with low energy consumption and high efficiency, it will save money production and circulation costs and significantly reduce transaction costs. Digital currency and sharing economy have combined to better protect the environment at a higher level. For our country, scientific popularization and knowledge promotion are needed in the process of promoting digital RMB. Though some publicity costs will inevitably be incurred, they will have to be paid. If people do not understand digital currency, they may be afraid, which won’t be good for the promotion of digital currency.
Through the week-long activities, students not only learned about the history of currency development, techniques involved in currency production, the cost in the process of production and circulation, mobile payment and virtual currency such as Bitcoin, but also got to know the distribution of the Chinese digital currency and technology etc. They also realized how greatly technology and digitization can help reduce emissions and save energy. Students also care more about how technology can be applied to the protection of environment in their daily life.