What is digital RMB? What's the difference to bitcoin?
Do you know digital RMB will be widely used in 2021?
Digital RMB, issued by the people's Bank of China, is legal tender with state credit endorsement and legal compensation ability.
What is the difference between digital RMB and bitcoin?
Both digital RMB and bitcoin have blockchain technology, but there is a fundamental difference. The value basis of digital RMB is more guaranteed. Compared with bitcoin and other virtual currencies, digital RMB is legal currency, equivalent to legal currency, and its effectiveness and security are the highest. Bitcoin is a kind of virtual asset, which has no value basis, and does not enjoy any sovereign credit guarantee, so it can not guarantee the value stability. This is the most fundamental difference between the central bank's digital currency and encryption assets such as bitcoin.
Digital RMB adopts a two-tier operation system. That is, the people's Bank of China does not directly issue and exchange the central bank's digital currency to the public, but first exchanges the digital RMB to the designated operating institutions, such as commercial banks or other commercial institutions, and then these institutions exchange it to the public. Operating institutions need to pay 100% reserves to the people's Bank of China, which is the 1:1 exchange process. This kind of two-tier operation system is basically the same as banknote issuance, so it will not have a big impact on the existing financial system, nor will it have a big impact on the real economy or financial stability.
gmtlight according to the relevant data, DC / EP delivery adopts a two-tier operation mode, which does not compete with the traditional operation mode of commercial banks. At the same time, it can give full play to the enthusiasm of commercial banks and other institutions in technological innovation: the digital money delivery system ensures that DC / EP is not over issued, and the corresponding amount voucher is sent only when the money generation request meets the verification rules.
New life under the digital currency system.
Digital currency will bring more convenience. In the digital currency system, anything that can form a unique identity can become an account. For example, the license plate number can become a sub wallet of digital RMB, which can be paid by highway or parking. This is the concept of the generalized system of accounts.
The bank account system is a very strict system, generally needs to submit a lot of documents and personal information to open a bank account.
Digital currency can open a digital RMB wallet without a bank account.
For some people in rural areas or remote mountainous areas, overseas tourists in China, who are unable or inconvenient to hold bank accounts, can also enjoy the corresponding financial services through digital wallet, which helps to realize inclusive finance.
Personality design of digital RMB
1. Double offline payment. Like banknotes, it can meet the demand of electronic payment in places with poor network signals such as airplanes, cruise ships and underground parking lots;
2. Higher security. In case of embezzlement, digital RMB can report the loss of real name wallet;
3. Multi terminal selection. People who are not willing to use or can not use smart phones can choose IC cards, function computers or other hardware;
4. Multi information intensity. According to the intensity of customer information, the digital RMB wallet is divided into several levels. If large amount payment or transfer, it must be through the real name wallet with high information intensity;
5. Point to point delivery. Through the way of digital currency smart contract, it can realize the point to person delivery. People's livelihood funds can be distributed to people's digital wallets, so as to eliminate the possibility of false reporting, false claim, interception and misappropriation;
6. High traceability. In the case that the competent authorities issue the corresponding legal documents in strict accordance with the procedures, the corresponding data verification and cross comparison are carried out to provide information support for cracking down on crimes. Corrupt elements will find it difficult to evade supervision even by breaking up the whole into parts.
7. Reduce the chance of virus transmission. Digital RMB can meet people's normal anonymous payment needs, such as micro payment, greatly save the cost of coin making, reduce the chance of virus transmission in currency transaction under the epidemic situation, and reduce the risk of virus transmission in currency transaction;
Alipay, WeChat payment and other electronic payment methods have become a public product or service. once there are service interruptions and other extreme situations, they will have a great impact on social economic activities and people's lives. This requires the people's Bank of China, as a public sector, to provide tools and products with similar functions as a backup of corresponding public products.
The development and application of legal digital currency is conducive to meeting the public's demand for legal currency under the condition of digital economy, improving the convenience, security and anti-counterfeiting level of retail payment, and accelerating the development of China's digital economy.
Shanghai metro station internal vending machine has been online digital RMB payment function, you can successfully pay through the digital RMB wallet.
Digital RMB will be widely used in 2021.