There are 3,389 merchants who have completed the transformation of the digital RMB system in Luohu District, Shenzhen, and all of them can use digital currency for consumption.
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Advantages of digital currency:
1, saving costs and improving efficiency.
In the traditional electronic payment process, the funds are deposited on the third-party platform, and the third-party platform deposits funds through the time difference of payment to obtain short-term interest income, which makes customers and businesses suffer losses. The transaction process is redundant because of two fund transfers. Electronic payment based on blockchain technology eliminates the third-party platform and realizes peer-to-peer payment (P2P), thus simplifying the payment process and reducing the payment cost.
2. Optimize the traditional payment function.
Digital currency can inherit the advantages of cash payment (point-to-point payment, instant payment and settlement, convenience and quickness), and solve the defects of cash at the same time. Under this condition, controllable anonymity is realized at the same time, that is, compared with traditional mobile payment, the personal information of each participant is effectively protected by digital signature to prevent the user's personal information from being lost, leaked or maliciously tampered with.
3. Control the life cycle of money and control the return of money.
Because digital currency is programmable, the control of collection procedures in circulation in digital currency is gradually reduced and returned automatically.
4. Provide new monetary policy tools.
Economist Grice studied the macroeconomic management of electronic money system, and pointed out that the electronization and digitization of money will help to improve the central bank's ability to monitor the flow of money and organize the market, and improve the effectiveness of monetary policy. More importantly, the statutory digital currency will create a new price-based monetary policy tool, which can break through the lower limit of zero interest rate and make room for monetary policy.
5. Help realize inclusive finance.
Digital currency does not rely on physical outlets and manual services, and the cost of infrastructure and human resources is low. It can gain greater service ability with less material and human resources investment, which is conducive to expanding financial services in remote and poor areas. Moreover, digital currency-based financial services have the characteristics of "large transaction volume and small single amount", which is small and convenient, creating conditions for the general public to facilitate their lives and increase employment.
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