Suzhou double 12 digital currency users
on April 17, 2020, the digital currency Research Institute of the people's Bank of China (hereinafter referred to as "digital currency Research Institute") responded to the progress of network transmission test that at present, the research and development of digital RMB is steadily advancing. Under the premise of adhering to the double-layer operation, M0 substitution and controllable anonymity, the digital RMB system has basically completed the top-level design, standard formulation, function research and development According to the principles of stability, safety, controllability, innovation and practicality, the internal closed pilot test is carried out in Shenzhen, Suzhou, xiong'an, Cheng and the future Winter Olympics scenes at the current stage, so as to continuously optimize and improve the functions
combined with the above information, and considering that the screenshot of ABC's internal test version of DC / EP wallet has been circulated on the Internet, with Suzhou taking the lead in using DC / EP, the news about testing DC / EP in other regions will graally increase in the future. This paper will sort out the recent information about DC / EP pilot, analyze the main problems of DC / EP, and analyze the potential impact of DC / EP on China's financial system
first, why DC / EP was first piloted in Suzhou
according to the information disclosed through public channels, the pilot areas of DC / EP include Shenzhen, Suzhou, xiong'an and Cheng, but at present, Xiangcheng District of Suzhou is the first pilot DC / EP scenario. Why? All along, the research and development of DC / EP is mainly in the charge of digital currency Research Institute, which is a public institution established by the people's Bank of China and was established on January 29, 2017. However, it is worth noting that in addition to the technology research and development and patent application of DC / EP, the digital currency Research Institute has also carried out the following investment activities:
on June 15, 2018, the digital currency Research Institute established Shenzhen Financial Technology Co., Ltd. (hereinafter referred to as "Shenzhen Jinke") in the form of 100% shareholding in Shenzhen, The business scope is "
the general business items are: financial technology related technology development, technology consulting, technology transfer and technology services; Financial technology related system construction and operation maintenance. The licensed business items are:
"
on March 1, 2019, Shenzhen Jinke and Suzhou High Speed Rail New Town innovation and Venture Capital Co., Ltd. (hereinafter referred to as "Suzhou High Speed Rail New Town") jointly funded the establishment of the Yangtze River Delta Financial Technology Co., Ltd., which is registered in Xiangcheng District, Suzhou City, and its business scope is "
software development; Engaged in financial technology related technology development, technical consultation, technology transfer, technical services, financial technology related system construction and operation maintenance The projects that need to be approved according to law can be operated only after being approved by relevant departments. Among them, Shenzhen Jinke holds 55% of the shares and Suzhou high speed railway new town holds 45%. As a wholly state-owned enterprise, Suzhou high speed railway new town is ultimately fully owned by Suzhou High Speed Railway New Town Management Committee
according to the number of administrative personnel in Xiangcheng District of Suzhou estimated by open channels and the general standards of government agencies on transportation subsidies, the amount of DC / EP to be issued in May may may be about 200000 yuan to 300000 yuan, which is relatively limited. Considering the lack of information about Suzhou DC / EP pilot, the amount of DC / EP is only for reference. In addition, how to use the transport subsidies in the form of DC / EP is also a potential problem. In which scenarios can the Xiangcheng District personnel who obtain DC / EP use them? Do these scenarios have the b-end interface of DC / EP? All these need to be further observed
based on the above facts, it is not difficult to draw a conclusion that the digital currency Research Institute has already established contact with local state-owned enterprises in Suzhou by setting up subsidiaries, and the registered place of the subsidiary is Xiangcheng District, Suzhou city. Meanwhile, considering that the other shareholder is a local state-owned enterprise with traffic instry background in Suzhou, It is not surprising that DC / EP was first tested in Xiangcheng District of Suzhou, and the scenario test was concted by means of traffic subsidy. According to these ideas, the digital currency Research Institute has set up a wholly-owned subsidiary in Shenzhen, Shenzhen Jinke. It can be speculated that Shenzhen is very likely to be an important area for the next scenario test of DC / EP< Second, the characteristics of DC / EP and the recent pilot information survey
according to the public introction of the relevant responsible persons of the central bank on many occasions, DC / EP has the following characteristics: (1) the essence is still RMB, which belongs to the liabilities of the central bank and has unlimited legal compensation, which is another manifestation of RMB 2) The goal is to replace part of M0 (
i.e. cash in circulation, i.e. notes and coins, excluding deposits (such as enterprise deposits and savings deposits of urban and rural residents), financial bonds, commercial bills, large amount transferable certificates of deposit and other assets and liabilities that can be recorded in the accounts of financial institutions
) 3) No interest is charged 4) The two-tier operation structure is adopted, and the operating institution (bank or payment institution) is required to pay 100% reserve to exchange DC / EP 5) Technology neutral, but need to meet the "account loose coupling" (
rece the dependence of transactions on the account to achieve controllable anonymity,
), "high concurrent demand" and "offline transfer"
Yes , on December 5, Suzhou digital RMB red envelope officially began to make an appointment“ According to the "Suzhou release", Suzhou will issue 20 million yuan of digital RMB consumption red envelopes to eligible Suzhou citizens at the "double 12 Suzhou Shopping Festival" , with the amount of each red envelope being 200 yuan and the total number of red envelopes being 100000
this activity is mainly to further promote the pilot test of digital RMB in Suzhou, and this Suzhou digital RMB consumption red envelope activity is only a routine test in the process of digital RMB research and development, which does not mean that digital RMB is officially launched
extended data
there are three different characteristics of this pilot digital RMB red envelope:
first, it has a wider range of use, which can be consumed not only in designated offline merchants, but also online through Jingdong Mall
the second is to carry out offline wallet test. Participants can choose to sign up for the offline wallet experience program according to their own wishes when they make an appointment to draw digital RMB consumption red packets through the "Suzhou" app
The third is the higher requirements of applicants. Previously, Shenzhen only needed to meet the local application conditions, and this time participants need to meet one of the following conditions: one (or more) normal social security payment records in Suzhou in recent three years (monthly); Registered residence or temporary residence is within the scope of Suzhou Municipality. p>On December 5, Suzhou digital RMB red envelope officially began to make an appointment“ According to the "Suzhou release", Suzhou will issue 20 million yuan Digital RMB consumption red packets to eligible Suzhou citizens in the "double 12 Suzhou Shopping Festival". The amount of each red packet is 200 yuan , and the total number of red packets is 100000
in terms of the number and total amount of red packets issued in Suzhou this time, they are twice as much as those issued in Shenzhen before, and the red packets issued this time are not only suitable for offline consumption of designated merchants, but also online consumption through Jingdong Mall. In addition, Suzhou will also select some people from the customers who participate in the lottery activities of digital RMB consumption red packets to participate in the offline wallet experience activities
this activity is mainly to further promote the pilot test of digital RMB in Suzhou, and this Suzhou digital RMB consumption red envelope activity is only a routine test in the process of digital RMB research and development, which does not mean that digital RMB is officially launched
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extended information:
citizen application method:
according to the "Suzhou release", the "double 12 Suzhou Shopping Festival" digital RMB consumption red packets will be issued in the form of "lottery", which is not first come first served, without competition. The lottery registration channel will be officially opened from 0:00 on December 5, 2020 to 24:00 on December 6, 2020
consumers participating in the application should meet one of the following conditions: there is one (or more) normal social security payment record in Suzhou in recent three years (monthly); Registered residence or temporary residence is within the scope of Suzhou Municipality. p>
after meeting the corresponding conditions, consumers can register for an appointment through the appointment registration system of "Suzhou" app, and independently choose personal digital RMB to open a bank. After the successful appointment, the citizens can pay attention to the information of "Suzhou" app and wait for the draw. All the digital RMB consumption red envelopes of this activity will be issued in one batch
it is worth mentioning that compared with Shenzhen, on the basis of instry, agriculture, China and construction, two state-owned banks, Bank of communications and postal savings bank, have been added to Suzhou red envelope pilot banks“ According to the "Suzhou release", according to the pilot preparation of this activity, the project team led by six banks, namely, instrial bank, agricultural bank, China Construction Bank, construction bank, transportation bank and postal savings bank, has the conditions to participate in this activity, and other participating institutions are actively carrying out research and development
for consumers, if they don't have the bank cards of the six major banks of instry, agriculture, China Construction, communications and postal savings, can they still participate in this appointment activity“ According to Suzhou release, citizens who meet the conditions of this digital RMB consumption red envelope activity can participate in the registration and appointment, and the digital RMB consumption red envelope is issued to the digital RMB wallet opened by indivials according to the requirements, which can be consumed directly without binding a bank card
Digital RMB is the legal tender in digital form issued by the people's Bank of China. It is operated by designated operating institutions and exchanged to the public. Based on the generalized account system, it supports the loose coupling function of bank accounts, is equivalent to banknotes and coins, has value characteristics and legal compensation, and supports controllable anonymity{ RRRRR}
that is to say, like cash, we should not only provide a wide range of digital RMB services to the public in the future, but also ensure that all the public can easily obtain and use digital currency. Mu Changchun pointed out that in the process of issuing digital RMB, on the one hand, all commercial banks should participate in the circulation service; On the other hand, it is also necessary to ensure that all people, including the poor areas and the digital vulnerable groups, are provided with inclusive and easy-to-use digital central bank currency to avoid the digital divide and financial exclusion& ldquo; We have also been developing digital RMB procts suitable for the elderly and those who exclude the use of intelligent terminals& rdquo; He said
Suzhou will open on December 12; Double 12 Suzhou Shopping Festival & quot; Activities. Just recently, Suzhou announced that it would issue a total of 20 million yuan of digital RMB consumption red envelopes to the citizens who meet the requirements. The amount of each red envelope is 200 yuan, a total of 10 red envelopes. The distribution method is lottery. At that time, some of the citizens who signed up for the lottery will participate in the offline wallet experience. Perhaps most of them, after seeing this news, are envious of the Suzhou people; What is digital RMB; This question will be raised again and again. So, what is the digital RMB? What is the difference between Alipay and WeChat, which we usually use? The three points above strong>
are the main differences between the digital Renminbi and Alipay and WeChat. In addition, the emergence of digital renminbi will not threaten the existence of Alipay or WeChat. The digital renminbi will not completely replace banknotes in a short time. After the official launch of the digital renminbi, the public can choose to use traditional banknotes or digital Renminbi by themselves. It is reported that since May, in some areas of Suzhou, a small part of civil servants' wages have been paid in digital RMB, while most of the rest are still paid in traditional ways, so the two are not contradictory