Four Big Line is Large-Scale Inside Test Digital Currency App, Can Pay Treasure WeChat Still be Used?
What is China's version of digital currency? How does it work?
Four big Banks are testing digital currency apps on a large scale, and bank insiders are already testing them, which means we'll be able to use digital money soon. Simply put, the PBOC's digital currency is the digital version of the RENMINBI. The digital currency to be launched by the central bank has national credit endorsement, which is legal compensation. With national endorsement, the value of the digital currency of the central bank will be more stable. In terms of usage scenarios, the central bank's digital currency does not pay interest and can be used in retail, retail and high-frequency business scenarios, which are no different from paper currency. At the same time, the use of digital money must comply with all existing regulations on cash management and anti-money laundering, counter-terrorism financing and other provisions.
Equivalent replacement of the currency in circulation, will not make money hair
Digital money will start with digital money replacing banknotes and COINS in circulation, which can be replaced by equivalent ones. To ensure that the central bank's digital money is not overissued, commercial institutions will pay 100 percent of the total amount of reserves to the central bank. In other words, the PEOPLE's Bank of China will first convert the digital currency to Banks or other operating institutions, which will then convert the digital currency to the public. At present, digital currency is only limited to a pilot program. It is unlikely to be issued in large quantities or widely adopted in the near future, and the velocity of money circulation will remain at a normal level. The payment method of digital currency is to encrypt one's information after downloading relevant APP, and then decrypt the transaction after paying others. The two-dimensional code transfer of digital wallet is very similar to that of alipay and WeChat in the whole process of scanning code payment, in addition to the transfer fee and the speed of account arrival.
What will digital money do for us
1. Safer and more convenient
As for third-party financial institutions, no one can guarantee that they may go bankrupt one day, even commercial Banks. But digital currencies don't have to worry about that. State guarantees, legal benefits, are enough. In addition, digital currency supports scanning codes for payment, face to face transactions, and most importantly, there is no bank card attached. Besides, as long as you have money in your wallet, you can transfer money without Internet.
2. More hidden, not to worry about stolen brushes
Although a digital currency is tied to a person and personal information is included in the digital currency, it is anonymous in the interface or in transactions, but the flow of money can be tracked. Unlike the current third-party payment institutions, can only find a human service for processing, so can also avoid the possibility of stolen brush.
3.Be more transparent
Digital money will also make our lives more transparent. The most prominent feature is the transfer of large amounts of assets, which can directly find the source and direction of financial crimes. For example, the financial and tax evasion of enterprises can be easily detected after a check.
As for third-party financial institutions, no one can guarantee that they may go bankrupt one day, even commercial Banks. But digital currencies don't have to worry about that. State guarantees, legal benefits, are enough. In addition, digital currency supports scanning codes for payment, face to face transactions, and most importantly, there is no bank card attached. Besides, as long as you have money in your wallet, you can transfer money without Internet.
2. More hidden, not to worry about stolen brushes
Although a digital currency is tied to a person and personal information is included in the digital currency, it is anonymous in the interface or in transactions, but the flow of money can be tracked. Unlike the current third-party payment institutions, can only find a human service for processing, so can also avoid the possibility of stolen brush.
3.Be more transparent
Digital money will also make our lives more transparent. The most prominent feature is the transfer of large amounts of assets, which can directly find the source and direction of financial crimes. For example, the financial and tax evasion of enterprises can be easily detected after a check.
