Digital RMB ecosystem in a two-tier operating system

The digital engine of the renminbi is constantly expanding, and in addition to the situation, more and more organizations are involved and the ecosystem is gradually improving.

As we all know, digital renminbi is a new payment method, but it differs from traditional payment methods such as third party payment. On the other hand, digital RMB payment is the payment method which constitutes the four-part model.

Digital RMB ecosystem in a two-tier operating system

There is no so-called acquirer or clearinghouse in the renminbi ecosystem.

As part of a dual transaction, the Company will be responsible for the dissemination of the digital yuan, phase-out, integration of joint ventures and portfolio management, as well as the selection of companies with capital and capital to make digital yuan. Renminbi currency exchange services, other companies and businesses and organizations are working together to provide digital renminbi services to the public.

Obviously, in addition to the People's Financial Institution of China, Employee Tier 2 is the core of the yuan ecosystem.

Meanwhile, under the management quota of the Chinese Renminbi Banking Corporation of China, the manufacturing company is expected to open a variety of digital renminbi wallets and offer energy-based digital renminbi trading services. customer identification. In other words, the operation and management of RMB KYC digital funds and wallets should be done by the design company.

Meanwhile, the elected body is expected to cooperate with other business organizations to implement digital renminbi services and be responsible for managing connected stores. Specifically, it includes services such as payment for product development, construction, expansion, ease of operation, marketing, operations and maintenance.

As a mobile payment network, the companies currently reported are said to be the Bank of China for Industry, Construction, Shipping, Shipping and Post. Society. .

For non-level 2 sole proprietorships, the industry has given the word "level 2.5" to more (unauthorized) entities, including other companies, companies not in the bank and other participants. The form of cooperation between the agency and other companies is called "bank-bank cooperation" in the industry. Mobile phone payments have been described in the past (see Digital RMB Bank-Bank Cooperation and Platform Access Analysis for details). Model).

It also plays an important role, whether in the traditional payment process or in the digital renminbi ecosystem, which holds the vital role of B-side “merchant” capital.

Enter the 'traders' of the digital renminbi ecosystem

Usually we talk more about the renminbi on the user side, including the digital renminbi and 4 types of wallets for advertising. Users are still free to open their personal renminbi wallets through the processing channels.

In the existing payment system, four models of organization card, debit card, recipient, and participating merchants form the basis, and store access Sales participation depends on recipient detail. the can. ".

However, in the digital renminbi system, the primary role of the payee no longer exists. Traders have become public pockets of "established work ethics". So how do these traders open up and access the digital renminbi?

On the other hand, the organization is working on its own expansion.In the first phase of the digital yuan pilot project, investor support in all areas of operation has been severely restricted, and most offline companies have restricted investment is an open wallet and accept terminals. As a result, you will often find offline merchants who start to support digital renminbi withdrawal, a separate “Bank of China” or “ICBC” point-of-sale machine for printing the renminbi.

The 2.5-story model, on the other hand, helps develop.The company, through a direct link with the bank account, can open its own personal RMB wallet through office integration and log in at the same time to achieve the function of accepting public and private wallets from consumers . partner bank.

Third-party payment companies with access to integrated services, including UnionPay Commerce and Lakala, which initially had large merchants, can also provide potential customers with access and open digital-to-public wallet results.

Impact and change after traders enter the digital renminbi

The growth of the renminbi index is inseparable from the expansion of the domain, and the support of investors in the domain will inevitably become inseparable.

According to the latest data, as of October 8 this year, there are over 3.5 million digital RMB pilot scenarios, a total of 123 million personal wallets, and an exchange rate of about 56 billion yuan. It now covers a wide range of industries, including cost of living, food services, transportation, purchasing and utilities, and government services.

So what is it that encourages investors to engage in promoting the digital yuan? That is, what is the impact of traders entering digital renminbi?

On the other hand, digital renminbi payment and settlement is very attractive to many traders because it has the advantage that customers can get money faster without paying any money.

Meanwhile, the yuan digital pilot level operator can cooperate with the government to start more work to operate traders and obtain financing.

From the point of view of scarcity, the main reasons why the digital renminbi is still in the experimental stage, the openness and use of the group is still low, and the understanding of the independence of traders is limited. In addition, according to mobile payments, the digital yuan will have a greater impact on market share due to the incomplete ecosystem in its infancy.

While invaluable, some payment agencies are not happy with the expansion of the partnership, but the value-added services include retail, remodeling, and subsequent affiliations. Access is also the future direction of the service organization.

system

Our country's legitimate currency, the digital renminbi, will provide broad support to investors in a wide range of situations, even if the announcement is only temporary.

As we all know, the expansion of product marketing is an important part of the overall payment system, according to the new payment ecosystem, the digital renminbi will be the key to the full development of the future ecosystem. Between agencies, franchisees and users.