#ChineseNews #DigitalRMB #ChinaFocus
“China Focus” is a YouTube channel created to provide current events and pop culture headlines from China.Here you can get to know a more real China through my video.
Today, let’s focus on the issue of CNY’s progress! China Digital Currency is Popularizing! The Digital RMB App is now available! Digital renminbi, the letter abbreviation tentatively designated as “e-CNY” in accordance with international usage practices, is a digital legal currency issued by the People’s Bank of China. It is operated by designated operating agencies and exchanged with the public. It is supported by a broad account system based on The loose coupling function of bank account is equivalent to banknotes and coins, has value characteristics and legal compensation, and supports controllable anonymity.
The concept of digital renminbi has two key points. One is that the digital renminbi is legal tender in digital form; the other is that it is equivalent to banknotes and coins. The digital renminbi is mainly positioned at M0, that is, cash and coins in circulation. It is mainly positioned as a cash payment voucher (M0), which will coexist with the physical RMB for a long time, and is mainly used to meet the public’s demand for digital cash and help inclusive finance.
The research and development test has basically completed the top-level design, function research and development, system debugging, etc., and is following the principles of stability, safety, controllability, innovation, and practicality, and selected representative regions to carry out pilot tests.
Digital RMB App is now on the open market! On January 4th, the editor found that the digital RMB App had quietly been put on shelves in the Apple App Store and major mainstream Android markets . This means that users in the pilot areas of digital renminbi will be able to access the digital renminbi App more conveniently!
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