Digital currency, Central Bank, DCEP for short. Since it is issued by the central bank, digital currency and the central bank are actually digital legal tender, which are essentially the same as cash in circulation, but in different forms. With the continuous decline in the proportion of cash used, in the long run, the central bank can issue new digital legal tender through technical means to ensure the smooth implementation and transmission mechanism of monetary policy. From the morphological point of view, the central bank digital currency may appear in the form of digital wallet or digital account.

Digital currency, the central bank, belongs to the "base currency" issued by the central bank and is directly controlled by the central bank. DCEP can protect privacy, but it cannot be completely anonymous. DCEP is mainly positioned to replace M0, and paper money has become its key replacement object. DCEP itself is a string of numbers, carrying the personal authentication information of the holder. Theoretically, every node that DCEP goes through from generation to extinction will be recorded.

The launch of digital currency-Central Bank shows the official tolerance and affirmation of technological innovations such as blockchain, and the pilot of digital currency-Central Bank indicates that digital currency may constitute the mainstream form of currency in the future.