Nowadays, mobile payments are everywhere, especially this year’s epidemic, which triggered a boom in mobile payments. We can recall how long it was without paper money. In this environment, digital renminbi emerged as the times require. Shenzhen joins hands with the People's Bank of China to launch digital yuan. As a pilot project, Shenzhen issued 50,000 digital red envelopes worth 200 yuan, with 1.91 million applications and 50,000 signatures. On that day, citizens spent money. Experts say that the existence of digital RMB is of epoch-making significance.
1. The existence of digital RMB means that the digital RMB has been tested from the inside out. Prior to this, digital renminbi was only tested in the banking system, which required a long process. This is the transformation from paper currency to digital renminbi, which is an inevitable trend in the new era of technological change. This time citizen participation means that it has entered a new stage, from bank internal testing to pilot public testing, laying the foundation for future comprehensive popularization, and its existence is an inevitable result.
2. The existence of digital RMB is essentially different from WeChat and Alipay payments. The digital renminbi is equivalent to banknotes and coins. In other words, in the future, digital RMB can be equivalent to paper RMB and can only be circulated digitally. Third-party Internet payment methods such as WeChat and Alipay rely on the deposit currency in commercial bank accounts and are legal currency payment channels. Therefore, there is a difference between the existence of digital RMB and Internet payment.
3. The existence of digital RMB is of epoch-making significance. As a new technology, digital RMB is also a product of the new era. Currency developed from the initial barter stage to the gold and silver bullion stage, to the coinage stage, and then to the paper currency stage. Nowadays, electronic currency has emerged, and the issuance of digital RMB will surely enter a new stage of epoch-making significance. It is becoming more and more intelligent now. Based on the continuous improvement of electronic products, digital RMB emerged as the times require. Although it is still in the testing stage, its existence is reasonable and an inevitable product of the new era.