Since the concept of data currency was put forward, everyone is very concerned, because everyone is curious about what kind of currency digital currency is and how it is different from the currency we use now. In fact, the so-called digital RMB is the legal digital currency that the People's Bank of China has not yet issued, that is? Digital currency electronic payment? , English name is (DC/EP, digital currency Electronic Payment). What we need to know is that digital currency, the central bank, does not pay interest. Can only be used for small or some high-frequency business scenarios. Compared with paper money, there is no difference. To tell the difference, one is paper and the other is intangible. Therefore, after using digital currency, we should abide by all the existing regulations on cash management, anti-terrorism financing, anti-money laundering and so on. On August 14, 2020, the Ministry of Commerce of China issued the Pilot Program for Deepening the Innovation and Development of Service Trade, which mentioned that digital RMB will be piloted in pilot areas with conditions in Beijing, Tianjin and Hebei, Guangdong-Hong Kong-Macao Greater Bay Area and the central and western regions. ? China's digital RMB has adopted a two-tier operation system, that is, the People's Bank of China does not issue it directly to the public, nor does it exchange it for the central bank digital currency. Instead, it first exchanges digital RMB for designated operating institutions, such as commercial banks or other commercial institutions, and then these institutions exchange it for the public. Operating institutions need to pay 100% reserve to the People's Bank of China, which is the so-called 1: 1 exchange process. This operating system is basically the same as issuing paper money, and will not have a great impact on the existing financial system, let alone on the real economy or financial stability. The launch of digital currency by the state is a major move. In fact, most of the blockchain virtual currencies that our people generally contact are deceptive. The digital currency issued by the Bank of China is a very great thing. The bitcoin or other virtual currencies we talked about before are just social circulation, and there is no special state agency to issue them, which is equivalent to a virtual asset, so they are not really digital currency at all. At present, digital currency has been piloted in Shenzhen, and we will wait and see the convenience brought by digital currency.