What does RMB digital currency mean
Digital RMB is the legal digital currency not yet issued by the people's Bank of China, namely "digital currency electronic payment" (DC / EP). Based on the generalized account system, it supports the loose coupling function of bank account, is equivalent to banknotes and coins, and has value characteristics and legal compensation
on August 14, 2020, the Ministry of Commerce of the people's Republic of China issued the "overall plan for comprehensively deepening the innovation and development pilot of service trade", which mentioned that "digital RMB pilot projects should be carried out in Beijing Tianjin Hebei, Yangtze River Delta, Guangdong, Hong Kong, Macao and other pilot areas in central and Western China."
on October 8, 2020, the Shenzhen Internet Information Office of Guangdong Province announced that in order to promote the construction of Guangdong, Hong Kong and Macao Dawan district and in combination with the local consumption promotion policy, the Shenzhen Municipal People's government recently launched a pilot project of digital RMB red envelope with the people's Bank of China
digital renminbi is what
first, the most typical question is what is the difference between digital Renminbi and Alipay and WeChat payment? p> Basically speaking, digital RMB is equivalent to banknote and coin RMB, which is a legal currency with value characteristics and legal compensation. The three party Internet payment methods such as Alipay and WeChat payment mainly rely on deposit money transactions in commercial bank accounts, which is essentially a payment channel for legal tender. Digital Renminbi belongs to M0, that is, the category of cash in circulation. The money that people put in Alipay and WeChat accounts are deposits of non deposit financial institutions. They belong to the category of M2, that is, broad money. p>
CCTV reported that compared with the third-party payment tools, the use of digital RMB is more convenient:
the payment path is short: there are only two points of payer and payee, and the transaction can be completed within a few milliseconds without any third-party platform
double offline payment: when the mobile phone has power, it can spend digital RMB even if there is no network
controllable anonymity: to protect the privacy of consumers, in addition to the government departments investigating illegal transactions within the scope of authority, merchants and third-party payment platforms have no right to obtain the payment data of consumers, and consumers are free from marketing intrusion
in addition to the obvious advantages of easy use and cracking down on counterfeit money, the future implementation of digital RMB can better help the state to regulate currency circulation, fight corruption, anti money laundering, and fight crime; In terms of macro-control, it can optimize monetary policy, achieve targeted poverty alleviation, accurately support the development of real economy, and promote the internationalization of RMB
1. For commercial banks and other financial institutions, it is both an opportunity and a challenge. In the future, more innovations such as digital credit, digital assets and digital liabilities will be derived from digital currency, while the non sovereign "digital right currency" will graally cool down. In addition, the central bank can improve the efficiency of monetary operation monitoring and enrich monetary policy means after the issuance of digital currency
2. Issuing the legal digital currency of the central bank will make it possible to collect the data of money creation, bookkeeping and flow in real time. After data desensitization, it will conct in-depth analysis through big data and other technical means, so as to provide a useful reference for money supply, formulation and Implementation of monetary policy, and provide a useful means for economic regulation and control
extended data:
characteristics of digital currency
Central Bank digital currency is quite different from electronic payment in some functions. In the past, the fund transfer of electronic payment instruments must be completed through the traditional bank account, which adopts the way of "account tightly coupled"
and the central bank's digital currency is "account loose coupling", which can be separated from the traditional bank account to realize the value transfer and greatly rece the dependence of the transaction link on the account. The digital currency of the central bank can be as easy to circulate as cash, which is concive to the circulation and internationalization of RMB. At the same time, it can realize controllable anonymity
it is also closely related to Internet technology and has the attributes of payment and circulation. The central bank's "digital currency" is closely related to bitcoin. But bitcoin is a kind of digital currency, but digital currency is not just a form of bitcoin. Although the central bank's "digital currency" veil has not yet been lifted, there must be many differences with bitcoin
first of all, the issuers are different
most currencies have an issuer. For example, RMB is printed and issued by the central bank. But bitcoin does not have a centralized issuer. It is generated randomly based on an algorithm. Anyone can mine, buy, sell or receive bitcoin
secondly, the acquisition methods are different
bitcoin is the result of unremitting "mining" by some people who master the algorithm. These real it experts need to search for 64 bit numbers by computer, and then compete with other gold miners by repeatedly solving puzzles to provide the required numbers for the bitcoin network and obtain the corresponding bitcoin
but the digital currency issued by the state is bound to face the people of the whole country, rather than some network experts. When the country strives to achieve the goal of Inclusive Finance, how can it only tailor a currency for Internet experts? The national version of "digital currency" is bound to help the realization of Inclusive Finance, facing the most extensive groups
in addition, the pricing is different
in the face of bitcoin, which is becoming more and more difficult to "dig", many experts are more energetic like upgrading to fight monsters. With the increasing difficulty of "mining", the price of bitcoin has also soared and fluctuated greatly
a national currency has to try its best to maintain its own stability. Naturally, it is impossible to price according to the difficulty of acquisition, just like collectibles, because of scarcity
in addition, the application range is different
at present, all countries, including China, do not recognize the monetary attribute of bitcoin. Some organizations may have accepted donations from bitcoin, and some supermarkets have said that they can pay with bitcoin, but this is only within a very small range
as a digital currency issued by a country, it must be able to meet the largest range of payment needs, especially with the evolution of mobile Internet, cloud computing, blockchain and other technologies, and under the background of great changes in global payment methods, the central bank's digital currency needs to meet the global payment needs
if the central bank's "digital currency" is very different from bitcoin, how is it different from virtual currency
people who have used QQ should be familiar with QQ coins. They need to change their clothes for QQ avatars and change their backgrounds for QQ spaces. Many Tencent online games also need QQ coins to recharge. Like this, there are many virtual currencies based on the network, such as the online currency of the network company, the recharge voucher of the game company, etc
as far as the scope of application is concerned, most of these online currencies are used to recharge games, purchase equipment and props, and cannot be paid offline; As far as the exchange method is concerned, in principle, virtual currency can only be purchased with real currency, but it is not allowed to convert virtual currency into real currency; As far as issuance is concerned, it is launched by enterprises themselves, some of which are like "vouchers" rather than real currency
therefore, although the issuance of "digital currency" by the central bank inevitably requires payment transactions on the Internet, the principles and methods are different from those of virtual currency
especially at present, when many enterprises issue virtual currency, e to their own lack of risk prevention and control and security awareness, they leave an opportunity for some criminals to swipe bank cards, sell stolen goods and launder money. If the central bank's "digital currency" is issued, whether it will replace these online virtual currencies and make the online payment environment safer, healthier and more transparent is a question worthy of consideration.
Digital RMB is legal tender with unlimited legal compensation. Unlike the three party payment tools such as WeChat Alipay, the use of digital Renminbi can be completed without binding the bank account. p>
in transaction payment, no unit or indivial can refuse to accept digital RMB. To make payment more convenient while ensuring safety is the first consideration of digital RMB. The central bank's digital currency DC / EP adopts a two-tier operation system. The people's Bank of China issues digital currency directly to the public
In the two-tier operation system, the people's Bank of China first exchanges digital currency to banks, and then these institutions exchange digital currency to the public. So it seems that your salary should be paid to the bank account first, and then converted into digital RMB extended information:
the introction of digital RMB is as follows:
it is mainly used in the high-frequency business scenario of small retail. It adopts a two-tier operation system. The central bank first exchanges the digital currency to banks or other operating institutions, and then these institutions exchange it to consumers. It is understood that digital RMB is not a virtual currency, nor an online payment or e-wallet, but a legal digital currency issued by the central bank based on national credit
for financial innovation, it can not be completely realized. In this case, the relevant representatives of the central bank put forward the relevant contents of digital RMB and pointed out that the era of digital RMB is coming
it is understood that the digital RMB adopts a two-tier operation system, that is, the people's Bank of China first converts the digital currency to banks or other operating institutions, and then these institutions convert it to the public, so that the public can use it directly. The single tier operation system is that the people's Bank of China issues digital currency directly to the public< What is the difference between br />
Digital Renminbi and Alipay and WeChat?
at present, many cities across the country are experimenting with digital RMB red packets, and the use scenarios have expanded from the initial support of offline scenarios to online payment scenarios. As long as the mobile phone is equipped with digital RMB app and personal digital wallet, residents can use digital RMB
some people also compare the digital Renminbi with Alipay and WeChat payment. For this reason, mu Changchun also mentioned in the second the Bund financial summit held in October last year that WeChat, Alipay and digital RMB are not in one dimension. WeChat and Alipay are financial infrastructure and wallet, while digital renminbi is the payment tool and the content of the wallet. Br />
mu Changchun said that in the electronic payment scenario, WeChat and Alipay's wallet contained commercial bank deposit money. After the issuance of the digital renminbi, they could still pay with WeChat and Alipay, but the contents contained in the purse increased the central bank's currency. At the same time, Tencent and ant's respective commercial banks are also operating institutions, so there is no competition with digital RMB