Shulou(Shulou.com)11/24 Report--

CTOnews.com news on December 16, the "Digital RMB" App shows that the scope of the pilot project has been expanded again. On the one hand, it has been expanded from Shenzhen, Suzhou, Xiongan New area and Chengdu to Guangdong, Jiangsu, Hebei and Sichuan provinces; on the other hand, Jinan in Shandong, Nanning and Fangchenggang in Guangxi, Kunming and Xishuangbanna in Yunnan have been added as pilot areas. So far, a total of 17 provincial administrative regions or some cities across the country have carried out digital RMB pilot projects.

What is the digital RMB?

Digital RMB is legal tender in digital form issued by the people's Bank of China, which is operated by designated operating institutions. Based on the broad account system, it supports the loose coupling function of bank accounts and is exchanged with physical RMB at 1:1 to form a legal tender system, which has value characteristics and legal compensation, and supports controllable anonymity.

Which institutions are supported to open wallets at present?

At present, operators providing digital wallet services include Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Postal savings Bank of China, China Merchants Bank, Industrial Bank, Internet Merchants Bank (Alipay) and WeBank (WeChat Pay).

CTOnews.com learned that digital RMB is the national legal tender. Compared with traditional paper money, digital RMB provides citizens with a convenient way of digital payment instead of paper money. At the same time, digital RMB has the advantages of legal compensation of sovereign credit, convenience of double offline payment, traceability of directional circulation, privacy security and other advantages, which make up for the shortcomings of other mobile payment tools. There are rich application scenarios online and offline.

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