July 22, 2021

How far away is the digital RMB ...


Pilot scenes exceed 1.32 million, personal money clips exceed 20.87 million -

The pilot scenes exceeded 1.32 million, my money clip exceeded 20.87 million, and the total number of buying and selling orders was 707.5 billion yuan pens ...... Recently, the Central People's Bank published a white paper on the progress of the research and development of China's digital yuan, indicating that at this stage, the digital yuan product research and development experiments have basically been carried out for co-ordinated planning, role product development, and The system software regulation and other work in progress, is selecting a part of the symbolic geographical area for pilot testing.

The first thing that we are concerned about behind this data and information is what is the status of the pilot? What are the next steps for the digital RMB?

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The pilot territories are expanding in an orderly manner

According to statistics, the digital RMB pilot has so far expanded in an orderly manner to "10+1", i.e. "10 major cities + 1 winter Olympics scenario".

In late 2019, the Central Bank has been testing digital RMB pilots in Shenzhen, Suzhou, Xiongan, Chengdu and the 2022 Beijing Winter Olympics scenario, and in November 2020, six new pilot territories have been upgraded: Shanghai, Hainan, Changsha, Xi'an, Qingdao and Dalian, resulting in the current "10+1" pilot territories. " pilot geographies.

"The digital RMB grabbing red packet activities were carried out in some geographic areas, completing the real customer pilot testing and batch number scale centralized testing of different scenarios, certifying the digital RMB business process technical design solutions and system software reliability, product ease of use and scenario applicability, and improving the general public's understanding of the digital RMB design concept. " In response to the status of pilot testing, the market research report if a summary.

Considering special population requirements

"In future digital RMB design products, will also take into account the actual requirements of special groups of people, according to a variety of ways and means to reduce the application difficulty factor and prevent the application hindrance arising from the 'digital gap'." Luo Rui, Director General of the Central Bank's Loan Coin Gold and Silver, said.

"To eliminate the 'digital gap', the digital RMB will also explore the release of 'hard money clips' such as intelligent visual cards to deal with the practical operation of smart machine trouble problems for special groups of people such as the elderly and the disabled. " Luo Rui indicates that the digital RMB money clip design solution is conducive to online and offline full-scene use, meeting the diversified requirements of customers with multiple actors, levels, types and shapes.

There is also hope that the barriers to financial information services for the masses will be further reduced. In the future, the general public who do not have a bank account will be able to access basic financial information services under the digital RMB wallet, and overseas residents who are coming to China in the near future will be able to set up a digital RMB wallet without having a mainland China bank account to meet their daily payment requirements in China. At the same time, the "pay-as-you-go" nature of the digital RMB is also beneficial for companies and related parties to enjoy the convenience of payment while enhancing the efficiency of working capital.

Long-term co-existence with the commodity RMB

"The commodity RMB will co-exist with the digital RMB on a long-term basis." According to Luo Rui, China's wide area, very large population, multi-ethnic integration, regional development differences, the current social situation and the payment habits of its households, average age, security requirements and other factors determine that the commodity RMB has characteristics that are irreplaceable by other means of payment.

In response to the link between digital RMB and electronic devices means of payment, Mu Changchun, the advantage of the Central Bank's Digital Loan Coin Research Office, indicates that digital RMB and general electronic devices means of payment are at different levels and are both complementary and different. The digital RMB will give the public a new universal payment method that will enhance the diversity of payment means and help improve the efficiency and security of the payment system. Its distinctive advantages include: being legal tender, it is the most secure property in China; it has value-in-use features, allowing value-in-use migration without relying on a bank account; it is suitable for offline trading; and it has features such as "payment is clearing".

Security and privacy issues are also a major concern when applying digital RMB.

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In this regard, the Governor of the Central People's Bank, Fan Yifei, stated that the Central Bank attaches great importance to the security and privacy challenges of the digital RMB system, and has made compliance management and security convenience the two most important design principles in designing every aspect of the solution architecture around the digital RMB.

At the level of security factor, Fan Yifei detailed, firstly, the standard digital RMB and related system software design scheme, development design and operation and maintenance management operation steps project life cycle network information security management method, complete cannot be repeatedly consumed, cannot be illegally copied and counterfeited, trading cannot be forged and resistant to bad debts and other characteristics, basic completion of multi-level security prevention system. Second is basically carries on to build the multi-level joint prevention and control security operation system, creates the network information security management program system, pays attention to enhances the actual combat exercise training, gives the standing security precautionary measures for the digital RMB to apply in the work. The new technology will be used in the future, and the new technology will be used in the future, and the new technology will be used in the future, and the new technology will be used in the future.

In terms of personal privacy, the digital renminbi system follows the standard of "small loans with secret names and large amounts traceable according to regulations". At the same time, the Central Bank will also prevent the digital RMB from being used for online fraud, online gambling, money laundering and other illegal and undisciplined personal practices, and ensure that the transactions are in compliance with regulations. The digital RMB system collects transaction information according to the "at least, necessary" standard, but does not collect too much and does not give it to third parties or other government agencies, except as expressly provided for in relevant laws and regulations. The central bank has set up a "server firewall" for information related to the digital yuan, which is allocated according to the rules and regulations of full-time staff management methods and business process protection, and seriously implements the management methods of network information security and personal privacy protection, and strictly prohibits arbitrary viewing and application.

Posted by: rniceert at 10:19 AM | Comments (1) | Add Comment
Post contains 1138 words, total size 8 kb.

1 I love the way you incorporate your personal experiences into your posts. It adds a great touch.

My page Comprar 3-MMC

Posted by: Anton at November 16, 2023 07:31 AM (LvFwa)

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