What is digital RMB? What is the function of digital name currency?

Digital RMB is the legal tender in digital form issued by the People's Bank of China. It is a controllable anonymous payment tool based on generalized account system, which supports the loose coupling function of bank accounts, is equivalent to paper money and coins, and has value characteristics and compensation.

Compared with mobile payment tools such as WeChat and Alipay, digital RMB has the following advantages:

1, with legal compensation and national credit endorsement.

2. Meet consumers' demand for anonymous payment.

3. Realize offline transfer.

4. There is no need to bind the bank card.

5. With dual offline technology, you can still use it when there is no cell phone signal.

The abbreviation of Digital Currency is DIGICCY, which is the abbreviation of "digital currency" in English, and it is an alternative currency in the form of electronic money. Digital currency is different from the virtual currency in the virtual world because it can be used to trade real goods and services.

Based on the characteristics of digital currency, the direct benefit brought by digital currency to the central bank is not only to save the cost of issuing, circulating and settling paper money, but also to enhance the central bank's ability to control funds. In fact, printing money also costs money, including printing paper, anti-counterfeiting technology and labor costs. Like printing money, recycling old coins is a time-consuming and laborious task. Therefore, compared with paper money, digital currency has the advantages of lower distribution cost, lower transaction cost, traceability and higher counterfeiting cost, so the future of digital currency is a trend.

The concept of digital RMB has two key points. First, the digital RMB is the legal tender in digital form; Another point is that it is equivalent to paper money and coins. Digital RMB is mainly located in M0, that is, cash and coins in circulation. Mainly positioned as cash payment voucher (M0), which will coexist with physical RMB for a long time, and is mainly used to meet the public's demand for digital cash and help inclusive finance.

R&D test has basically completed the top-level design, functional research and development, system debugging and other work, and is following the principles of stability, safety, controllability, innovation and practicality, and selecting some representative areas to carry out pilot tests.