The app is live, but the digital yuan is not yet popular.

This week, the digital RMB app (pilot version) was released at major retailers. This is the first time since the experiment in Shenzhen in October 2020 that the RMB digital application download channel is launched, and it is important in the development of the company.

Why is he only on the shelf now? According to the Financial Times, the reporter joined the company's first business, users register for free in the first digital yuan reader to receive exchange numbers and packages and configure the application. , cannot be recovered and reused. To improve the user experience, the digital version of the RMB app started with many comments and recommendations received from previous work. for

In an instant, the Digital RMB app rushed to the top of Apple's App Store.

Another renminbi craze and the universal yuan digital app surprised the public that the digital renminbi entered the popular arena. Many relatives, friends and even financial journalists interview the author. Will it be noisy? Strictly speaking, the author believes that there is still a long way to go before the popularity of the digital renminbi.

online events

Marketplace app for digital RMB app includes Apple App Store, Huawei, Xiaomi, OPPO, vivo mobile app market, App Store, 360 Mobile Assistant, Baidu Mobile Assistant, Wandoujia and other Android stores. The capabilities of this listing are limited to the Chinese App Store only. for

RMB apps can be downloaded by anyone, but not everyone can use them. At present, the digital yuan is still in the modern inspection process in the research and development process, and in the field of conduct and experiment events, the free registration details of desktop users can register for the digital renminbi app.

So, in fact, it's not just online. Of course, this area is not strictly limited and many people can complete the registration by updating their site and making a bank request. However, in most cases the current purchase is limited to the area where the driver was located. Although pilot digital RMB quotas are secure in other areas, they can only be used for individual transfers and the status quo is hard to come by.

What a difference

The topic is to discuss the popularity of the digital renminbi, or something else must first be done to promote the popularity of the digital renminbi.

The first is the industry growth model.Compared to the traditional four-part debit card receiving standard, digital RMB is interest-free and cost-effective (and currently non-existent), so the way to receive benefits is something every paid employee appreciates.

During the WeChat Open Course PRO held this week, WeChat Pay announced that to date, WeChat Pay has over 23,000 monthly subscribers, over 1,800 affiliates and paid accounts, and over 1 million Commercial Partners. It is the only provider of WeChat Pay. With these major vendors, vendors often rely on cost to survive. The RMB needs higher support if the stock payment model has been completely restricted. Promoting the digital renminbi market paves the way for sustainable development. for

Now, except for built-in payment models, digital renminbi programmability is the best way to expand the revenue model, but many companies want to know how to make money.

Second, the rights and responsibilities of participants should be shared.. After years of development in the payments industry, the Sifang model has grown. With the advent of online payment, the voice of the new Sifang and Sifang online payment model has become more popular, the key is to define the rights of everyone. Responsibility for involvement, how to guarantee for customers and sales. The responsibility of all parties in a transaction is different, for example, for financial protection, reimbursement and fraud.

Currently, the Company's Financial Institutions Research Institute (such as the Digital Currency Research Institute) is responsible for the majority of renminbi pilot projects, from set-up to market access and experiments. It is linked to Digital Currency Lab. As the digital renminbi matures, the human banking system still needs to decentralize, and the manager belongs to the manager and the company belongs to the market. If banks, offices and service providers need to learn from current needs, or learn to adapt and refine, these should be improved, corrected by constant changes in the experimental operation.

Third, the adoption and improvement of policies. In essence, it is still a matter of public policy and industry responsibility, but the digital yuan as a legitimate value must be raised to the legal level to secure the rights and interests of traders without restriction. and users. ~

In October 2020, the "National People's Congress of China on the Rights of the People's Bank of China (Draft Opinion)" was announced. In order to provide a legal basis for the Yuan in the descriptions, we assume that it includes both physical and digital documents. In order to avoid the advertising of digital tokens, the risk of virtual rewards, it is clear that any unit or individual is prohibited from creating and selling digital tokens.

This provides the legal basis for the digital dissemination of the renminbi. Of course, not only the amendment of China's People's Financial Institutions Law, but also many laws and regulations must be followed, all that must be done to lead to the gradual popularity of the digital future of the renminbi.

Fourth, risk management has reached the level of disposal management.It is a combination of technology, market and politics, and the struggle of gray and black production is an important part of the payments industry, and the theme of the changes will change according to the changes in the policy. commercial and environmental. For example, barcode payments were abolished in early 2014, and with the advent of marketing and regulatory reforms, the Company was banned from publishing data in 2017. 296, allows barcode payment. ~

The digital renminbi in 2021 is still going through a series of black production experiences, such as pyramid schemes, communication scams, financial transactions and other violations. But at the same time, it is a good symbol of the digital renminbi, and the process has been further improved to avoid the use of gray and black material, so that the renminbi system matures and the business handling process popular. for

In general, the popularity of the digital renminbi is still a long way off, the app version is still in its infancy, and there are many other important issues to be addressed. Finally, there are answers to questions such as whether the digital yuan will replace QR code payment, whether the digital yuan will attack WeChat Alipay, and whether the digital yuan will replace the free development currency.