Compared with traditional paper money and coins, digital RMB has the following advantages:
First, the scope of application is wide. But wherever electronic payment is used, digital RMB must be accepted. Digital RMB is the legal tender issued by the People's Bank of China, with legal compensation. Meet the acceptance conditions, any unit or individual in China shall not refuse to accept.
Second, the use method is simple. From the actual carrying experience, a variety of digital RMB hardware wallet forms also provide convenience.
Third, the security is good. Digital RMB is directly controlled by the state, and a special government department is responsible for it.
What's the difference between the payment function of Fu Bao and WeChat? First of all, digital RMB can't be rejected by any business, and it can be paid without network. Users who have opened digital RMB can pay the seller through QR code or "touch". In addition, there is no handling fee for withdrawal. Wechat and Alipay merchants can refuse consumers to use it. WeChat Alipay can't pay without a network, and the existing handling fee is raised.
Digital RMB, abbreviated as "e-CNY" according to international usage practice, is a legal tender in digital form issued by the People's Bank of China, operated by designated operating institutions and exchanged by the public. Based on the generalized account system, it supports the loose coupling function of bank accounts, which is equivalent to paper money and coins, has value characteristics and legal compensation, and supports controllable anonymity.
The concept of digital RMB has two key points. One is that digital RMB is legal tender in digital form; Another point is that it is equivalent to paper money and coins. Digital RMB is mainly located in M0, that is, cash and coins in circulation. Mainly positioned as cash payment voucher (M0), which will coexist with physical RMB for a long time, and is mainly used to meet the public's demand for digital cash and help inclusive finance.
R&D test has basically completed the top-level design, functional research and development, system debugging and other work, and is following the principles of stability, safety, controllability, innovation and practicality, and selecting some representative areas to carry out pilot tests.