The real meaning of digital RMB is revealed: the transformation of merchant system is "insensitive". Is Tencent going to enter the game?

The long-awaited digital RMB appeared in the form of a "red envelope".

According to the latest news from Shenzhen Municipal Government, * * * Shenzhen191380,000 people made an appointment to enjoy the Luohu digital RMB red envelope, of which 50,000 people won it by lottery. Red envelopes are presented in the form of "digital RMB" under development, and the winning rate is 2.6 1%.

Although the winning rate is still low, compared with the previous closed test of digital RMB, the scope of this test has expanded to 50,000 users and more than 3,000 merchants, which has made a qualitative leap, indicating that the stress test environment and scenario selection of digital RMB pilot have made further breakthroughs.

In view of the relationship between digital RMB and the existing payment methods in the market, some regulators have previously privately revealed that the current digital RMB is not for appreciation and speculation, but for payment, fulfilling the most basic function of money, and is a supplement to payment methods, which will not have a huge impact on the market structure.

Business side: the system transformation "no feeling" offers attract users to use.

According to Mr. Yan, at present, the functions in the wallet include collection, payment, transfer, payment of party dues, bank recharge and so on. "The bank recharge can be bound to the bank card accounts of any two banks of the four major banks, and confidential payment can also be opened."

It is worth mentioning that the colors of digital RMB red envelopes obtained by binding different bank cards are not the same, among which ICBC and BOC are red, ABC is green and CCB is blue.

In fact, before the large-scale launch of digital RMB red envelopes, some users have had early adopters. Mr. Yang, the financial controller of Miandianwang, a pilot restaurant in Shenzhen, revealed that at the beginning of September this year, some stores of epidemic prevention medical staff used digital RMB red envelopes, and the settlement and operation were relatively smooth. I didn't accept the pressure from big customers this time. In addition, the digital RMB received by the merchant can also be transferred to the previous collection account with one click.

According to the details previously disclosed by Fan Yifei, deputy governor of the People's Bank of China, at the SIBOS virtual meeting of SWIFT, the central bank has handled 3130,000 digital currency transactions with a value of 1 1 100 million yuan in early June; There are more than 6,700 digital RMB applications in the pilot test, and there are113,300 personal digital wallets and about 8,800 corporate digital wallets. The government also used digital RMB "red envelopes" to reward about 5,000 medical workers who participated in the fight against the COVID-19 epidemic, and some red envelopes have been used by some businesses in Luohu.

In addition to the four major banks, Tencent ants will also enter the game.

In April this year, China Business News reported exclusively that in addition to the four major banks and three major operators previously disclosed by the media, the pilot subjects of digital RMB also had role-playing, but the specific entry form and scene scope were not clear. (For details, see "digital currency Sprint of the Central Bank: 9 Major Forces Participating, Speeding up Horse Racing in Four Places")

In fact, the DC/EP pilot really moves towards the C-end scenario to produce day trading, which must rely on the scenario coverage and operational capabilities of commercial banks and commercial institutions. Fan Yifei previously wrote in China Finance that in order to ensure the security and stability of the digital RMB system, commercial banks with strong capital and technical strength should be carefully selected as designated operating institutions to take the lead in providing digital RMB exchange services.

According to the above discussion, the designated operating institutions can only be powerful commercial banks, while other commercial banks and institutions, such as Alipay and WeChat Pay, do not participate in the exchange link, but need to participate in the operation in the form of cooperation with the designated institutions.

In fact, the "friend circle" of digital RMB has expanded rapidly this year. Including JD.COM Mathematics Department, Didi, Meituan, Bili Bili and other institutions have reached cooperation with the Mathematics Institute of the Central Bank, enriching the digital currency in the scene. In this regard, a person close to the regulatory agency said: This is a natural thing, and the test is for future users.

Previously, Mu Changchun, director of the Digital Research Institute of the Central Bank, also mentioned in the online course: "At present, Alipay and WeChat also use RMB for payment. After the introduction of digital currency, the central bank only changed the digital RMB. Although the payment tools have changed, the channels and scenarios have not changed. "

The Shenzhen model may blossom everywhere

It should be noted that the digital RMB red envelope launched by Shenzhen this time is a designated consumption scene and cannot be withdrawn. They are similar to "consumer vouchers" in nature, not "digital cash" in a strict sense.

According to the relevant rules of Shenzhen Luohu red envelope activity, the winners will be taken back if they don't use the red envelope within the validity period.

Since the beginning of this year, news of the pilot project of digital RMB by the central bank has spread many times, from the App test of the Agricultural Bank of China to the news that 50% of the salary of some employees in Xiangcheng District of Suzhou was paid in the form of digital currency, and then to the digital RMB promotion conference in xiong'an new area. However, the above test scenarios are relatively closed and it is difficult for the public to participate directly.

Relevant persons from Song Jiaji's team of Guo Sheng Securities Blockchain Research Institute believe that the purpose of Shenzhen Stock Exchange public beta is to promote local consumption and stimulate domestic demand. Personal information of subscribers is shared by the local government and the People's Bank of China, and the organizer of local government activities is responsible for customer service. Simple in form, this model may "blossom everywhere".

It is worth noting that the People's Bank of China launched an independent super wallet "Digital RMB App", and the four major banks accessed it in the form of bound accounts, but the bank App did not go into battle directly.

The team also said that in the pilot project, there are still a series of problems that need to be observed and implemented: for example, how to settle digital RMB between different banks? Can Unionpay and Netlink participate? How does the client promote the use and how does the merchant encourage the promotion? How to introduce service providers to participate in future market-oriented operations?

In addition, in order to prevent the formation of a new "data island", Chen Wen suggested whether the central bank could set up or designate a special agency to collect CBDC transaction data of various banks in a unified way. On the basis of meeting the regulatory requirements of the People's Bank of China on anti-money laundering, anti-terrorist financing and anti-tax evasion, we can consider opening data to the market in an appropriate way in the future. On the one hand, we can open the right to use big data based on desensitization of personal identity information to market institutions, on the other hand, we can appropriately open personal privacy data to market institutions on the basis of personal authorization, so as to fully tap the economic and social value of payment data formed by CBDC transactions.