Digital RMB, also known as digital currency Electronic Payment, is the legal digital currency issued by the People's Bank of China based on national credit. Based on the generalized account system, it supports the loose coupling function of bank accounts, which is equivalent to banknotes and coins. Digital RMB, issued by the People's Bank of China, is the legal tender with the ability of national credit endorsement and legal compensation.
Judging from the pilot phase of digital RMB, it is roughly the following representative cycles:
In (1) and 20 14, the People's Bank of China set up a special team and began to make a special study on digital currency's distribution framework, key technologies, distribution and circulation environment and related international experience.
(2) At the end of 2065438+07, with approval, the People's Bank of China organized some powerful commercial banks and relevant institutions to jointly develop the digital RMB system (DC/EP). DC/EP has basically completed the top-level design, standard formulation, functional research and development, and joint debugging and testing on the premise of adhering to the two-tier operation, cash (M0) substitution and controllable anonymity.
(3) On April 19, 2020, the relevant person in charge of the digital currency Research Institute of the People's Bank of China said that the research and development of digital RMB was steadily advanced, and internal closed pilot tests were carried out in Shenzhen, Suzhou, xiong'an new area, Chengdu and future Winter Olympics scenes to continuously optimize and improve its functions.
(4) In May, 2020, Yi Gang, governor of the People's Bank of China, said that the current pilot test of digital RMB is only a routine work in the R&D process, which does not mean that digital RMB is officially launched, and there is no timetable for its official launch.
(5) On August 4, 2020, the Ministry of Commerce issued the Overall Plan for Comprehensively Deepening the Innovation and Development of Service Trade, which comprehensively deepened the pilot tasks, specific measures and division of responsibilities for the innovation and development of service trade. Some suggestions: Pilot digital RMB in Beijing-Tianjin-Hebei, Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area and conditional pilot areas in the central and western regions. The People's Bank of China formulates policy safeguard measures; It was first promoted by Shenzhen, Chengdu, Suzhou, xiong'an new area and other related departments in the future Winter Olympics, and then extended to other regions as appropriate [3]. After the announcement of the "Proposal", the progress of digital RMB has once again attracted market attention, and there are also rumors on the Internet that digital RMB will be piloted in 28 places. The reporter learned that 28 places will be piloted? Is it a misunderstanding that the pilot area of digital RMB is still 4+ 1? Namely, Shenzhen, Suzhou, xiong'an new area, Chengdu and the future Winter Olympics.
(6) On June 8, 2020 10, Shenzhen Internet Information Office announced that in order to promote the construction of Guangdong-Hong Kong-Macao Greater Bay Area, Shenzhen Municipal People's Government and China People's Bank recently launched a digital RMB red envelope pilot [5]. Is the red envelope a lucky draw? Officially released, the lottery registration channel on the 9th was officially opened [6].
Digital RMB can be circulated as easily as cash, which is conducive to the circulation and internationalization of RMB, and can also achieve controllable anonymity.
This is the embodiment of scientific and technological progress. Once the digital RMB is implemented, it will greatly facilitate the life and consumption of residents. Alipay, WeChat, etc. In fact, it is their technical predecessors, but if the central bank introduces this currency, it will bring great challenges to their competition. Developed countries in the world are also stepping up their research on digital currency, but the digitization of RMB may be in the advanced pilot stage.
Digital RMB has been followed up by CCTV, but it has not been promoted to the whole country. The essence is the sixth set of RMB.
Simply put, it is the same as our Alipay and WeChat payment. It is a mobile payment method, which uses an APP alone. Today's news also shows that digital RMB and Alipay are interoperable.
But in this way, many people will think that this is a new Alipay, which is wrong. The essential difference is that Alipay payment and bank card credit card payment are the same. Their background is actually a fund company and a bank. Both fund companies and banks are risky and are likely to lose money or even go bankrupt. In this way, the money in our Alipay and bank cards is gone, which is why the CBRC said before: When banks close down, our deposits in each bank will accompany us at most 500,000.
Unlike digital currency, this money is our own, but it has changed from paper money to digital form and put it in the mobile phone. He won't disappear. He's absolutely safe. The mobile phone is equivalent to the wallet we used before, so it is different from Alipay. Our own money is put in our wallet (mobile phone) without interest. Alipay actually invested our money in Tian Hong Fund and other funds, so there is still a certain amount of interest every day.
In addition to the differences in security, there are also differences in the underlying technologies. Before, someone asked Alipay staff if they could change the figures in the account. In fact, if many staff members cooperate, they can change them. However, Alipay's security system is super complex, and 18 layer security can basically avoid this possibility. But as long as these relevant personnel cooperate, they can still be changed. The digital RMB is different. Based on blockchain technology, no one can change it. The reason is the same as bitcoin. If you don't take care of it, there will be no problem.
Bitcoin is also different from digital currency. Digital currency has adopted some blockchain technologies, and the ultimate authority lies with the state. Bitcoin is a public chain and no one has the right to manage it. This is also the reason why China refused. Without supervision, Bitcoin will eventually become a paradise for crime.
Of course, the introduction of digital RMB is not just for security. Like Bitcoin, the issued digital currency is circulated online, and the circulation of coins under real-name registration system will bring convenience to supervision. By matching with the Internet, digital goods can be tracked. It can curb kidnapping, money laundering and bribery, so that the whole society can get better supervision. Money management under artificial intelligence makes everyone who has touched money have a record to check. Finally, its greatest use lies in the internationalization of RMB, which is also the most important step of China's great rejuvenation!