What is the digital RMB like?

With the rapid development of China's economy, China has shifted from traditional cash payment to mobile payment. With the full popularity of mobile payment, digital RMB seems to have emerged. What is it like? Why is there a digital RMB? Today, let's take you to digital currency and unveil its mystery.

Why is there a digital RMB?

With the rapid development of mobile payment, China has become the country with the highest range and utilization rate of mobile payment in the world, and China has become one of the countries closest to a cashless society. But for financial innovation, it can't be fully realized. In this case, the relevant representatives of the central bank put forward the relevant contents of digital RMB and pointed out the concept of the arrival of the digital RMB era.

What is the digital RMB like?

Digital RMB exists in the market as a non-cash currency. But it is different from commercial "virtual currency" and mobile payment.

1, the difference with virtual currency:

1) "Virtual currency" is produced in the commercial market, not in digital RMB, supported by national credit, and its security and solvency are far lower than that of digital RMB;

2) Digital RMB is legal tender and has legal effect. Some "virtual currencies" will not be highly regulated, and prices will rise and fall sharply.

2. Difference from mobile payment:

Digital RMB does not need to rely on bank cards bound by traditional banks like mobile payment. But it can exist independently of traditional banks.

So much about what digital RMB looks like, I hope it will help you. Warm reminder, financial management is risky and investment needs to be cautious.