Digital currency, the central bank, is a legal digital currency approved by the State Council. At present, it is mainly used to replace cash in circulation. English abbreviation dcep-digital currency electronic payment, that is, digital currency electronic payment.

Digital currency can be popularly understood as digital cash. At present, China's domestic digital RMB is divided into soft wallet (digital RMB APP) and hard wallet (wallet devices with digital RMB chips such as cards and bracelets), which can be obtained and used anonymously, safely and conveniently, and fully protect personal privacy.

Second, how does the central bank digital currency issue?

The traditional paper money delivery mode is that after the central bank prints paper money, commercial banks pay the money issuance fund to the central bank, and then transport the paper money to business outlets for delivery to the public. Digital currency, the central bank, puts money in a similar mode and calls it a "two-tier operating system". The so-called two-tier management system, the upper level is the central bank to commercial banks, and the lower level is the commercial banks to the public. The central bank will exchange digital currency for commercial banks according to the reserve system of 100%, and then commercial banks or commercial institutions will exchange digital currency for the public.

3. What's the difference between digital RMB and WeChat Alipay?

First of all, replacing M0 (instead of M 1, M2) with electronic RMB has no financial management attribute and is not counted as interest. Our commonly used financial management and Yu 'ebao have financial management attributes, because the products they represent are mostly money funds (M2 coins). The digital currency of the central bank is only RMB, not a monetary fund, just like money in your pocket.

Secondly, the electronic version of RMB can be paid offline. Traditional electronic payment is useless in the absence of signal, but digital currency of the central bank can pay without internet. As long as your mobile phone has electricity and touches the other person's, the money will pass. Therefore, it will be more convenient than the traditional electronic payment form.

In addition, digital currency of the central bank has unlimited legal compensation. What do you mean? In other words: you can't refuse digital currency. In terms of legal rights, its effectiveness and security are the highest. For example, some supermarkets do not keep pace with the times and do not support WeChat or Alipay payment. This is ok, because it is the freedom of the store, but we can't refuse digital currency of the central bank. For another example, you can't use Alipay for shopping in JD.COM and WeChat for shopping in Taobao, but they can't refuse digital currency from the central bank.

Fourth, the benefits of digital currency.

1. Traceability; Digital currency has the characteristics of traceability, which can strengthen the supervision of capital flow and effectively crack down on anti-money laundering, fraud, tax evasion and other illegal and criminal acts. Secondly, the central bank can clearly grasp the circulation of digital RMB, enhance the regulation effect on currency flow, and better support economic and social development.

2. Help RMB internationalization

At present, for digital currency, the central bank's greatest expectation lies in the application of DCEP in the field of cross-border payment, thus promoting the internationalization of RMB. Digital currency has certain advantages in cross-border payment: first, there are some problems in cross-border payment, such as long cycle, high cost and low efficiency; Cross-border payment based on digital currency can not only improve the speed of cross-border transfer, but also reduce the remittance fee (regardless of supervision). Secondly, at present, digital currency, the central bank, adopts a loosely coupled account design, so users can make transfer payments without binding their bank accounts when using digital currency, which is very attractive to overseas people who lack traditional financial infrastructure (banks). Based on the above advantages, if foreigners use DCEP for cross-border remittance or transaction payment, it will increase the use of RMB in the field of trade settlement.