Digital RMB Application Scenario List: Covers 13 different scenarios of C side, APP is a booming application.

On January 6, the Ministry of Interior and Communications of the State Commission announced "All plans for reform of the allocation of elements based on the market". Other events are encouraged.

After the renminbi pilot, application scenarios continued. As of October 8, 2021, the number of digital yuan pilot scenarios exceeded 3.5 million, up 2.18 million from the end of June, including living expenses, catering services, transportation or, food, government services and other activities.

In November 2021, Hainan Province announced the "14th Five-Year Plan for Improving Hainan's Economic Development," calling for the implementation of the yuan pilot program in all the islands. Complete coverage of all closed cycle events On January 4, 2022, the digital RMB application (pilot version) was launched and connected to more than 40 merchants including Meituan, Ele.me, Tmall Supermarket, Didi, Ctrip ...

The application of the digital renminbi has also resulted in “deep” improvement. Application scenarios have moved from pure offline integration to “offline-to-line” integration from the C end to the B end.

Since 2021, the digital renminbi has started to enter people's daily lives, experiments have multiplied, the status of the application is richer and richer, and the number of participants continues. In 2022, the application ecology and trading volume of digital renminbi will be further improved. In order to provide a simple picture and the future development of the digital yuan ecosystem, 01 Blockchain and Zero One Think Tank will publish the "Digital Yuan Ecosystem Development Report", and related organizations will provide new models.

Side C, the status of the store is important, and the APP is launched quickly for the advancement of the application scenario.

The status of the retail market is the key to the visit, when the rental and financial markets are used sparingly.

The RMB is mainly used for paid retailers based on M0 sites. Application scenarios are now focused on sales events such as food service, catering, entertainment and more, fun, transportation. 01 Blockchain has divided RMB digital applications into 13 categories by dividing the support and use of various experiences.

Note: Incomplete data for C side scenario of RMB digital driver

Source: 01 Blockchain

It can be seen that each driving zone covers nine major events, including catering services, food consumption, entertainment and recreation, tourism, transportation, hotel accommodation services, lodging, government services and Healthcare. Among them, catering services, food consumption and entertainment are the main applications of offline scenarios.

In transportation and transportation, besides the importance of digital renminbi application scenarios in public transportation and metro in all bus stations in Beijing, Shanghai, Hainan, Shenzhen, Suzhou, Changsha, Xi'an, Chengdu and Xiong'an New District, nine sites also cooperate with Meituan, the application is in digital RMB A bicycle was launched, and Hainan knows the use of digital RMB to buy a bus ticket to travel far in the state.

In medical and health care, the digital renminbi is often used for medicines and has not yet been reported in hospital payment cases. In the current Olympic situation, 23 selected hospitals have supported the adoption of the digital yuan. The on-site RMB digital medical payment system has also been used and tested in Changning District, Shanghai. Beijing's Haidian District also considers health and other activities to be the main application of the renminbi in 2022.

On campus, many universities such as Renmin University of China, Suzhou University and Hainan University have announced digital yuan applications. The school campus is a place of application of functionality and despite some physical limitations, students benefit from new products, which play an important role in supporting the use and support of digital RMB .

Currently, application scenarios such as leasing and the financial industry have not been studied and developed. In the case of mortgages, the digital renminbi is used to pay off personal loans, property taxes, rents and deposits, etc. In the event of a financial crisis, Beijing will pay for financial services and invest in commodities over-the-counter. The pilot application of the Shenzhen, Suzhou, Beijing, Dalian, etc. digital renminbi, etc. have used the digital renminbi for their online insurance status, and users can use the digital renminbi to pay and pay insurance premiums.

RMB digital application (pilot version) released, please boom

The renminbi digital APP version (pilot version) has expanded the scale of renminbi digital users, and users can open a renminbi digital wallet with their mobile phone number in the driving area. Extends to Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Development Bank of China, etc. Configure "sub-portfolios" in the corporate wallet, and "sub-portfolios" include Meituan and Meituan, Ele.me, Tmall Supermarket, Didi including Ctrip, Suning.com, Tuniu and over 40 merchants. Sales, transport, resuscitation, guided tours and more.

Simultaneously with the release of the digital application RMB (pilot version), Meituan, Tencent, Xiaomi, etc. Meituan's takeout scene opened an RMB digital payment channel, users can choose RMB digital payment method when using WeChat payment, and Xiaomi Mall announced RMB digital payment services.

The digital version of the RMB APP will support access to multiple application scenarios, and the application ecosystem will be accessible and extended. As of January 10, 2022, the digital RMB app (pilot version) has been downloaded over 5.9 million times from Huawei's App Store, ranking # 1 in Huawei's App Store financial software ranking. Apple.

Drivers and participating agencies enter the site and expand the site from C end to B end.

As the C-side emerges, regional automakers and their subsidiaries are still exploring the B-side application of the digital yuan. As a payment function, the digital renminbi can achieve a wide range of business terms, achieve the integration of "financial sufficiency and data flow", store more data, and become more familiar with the changing nature of the business.

The driving force has spread from taxation to insurance, e-commerce payments to the public and other issues.

Taxes are the most popular demand for digital RMB. Shenzhen, Shanghai, Beijing, Changsha, Qingdao, Hainan and Xiong'an have announced digital yuan tax services, which Changsha and Xiong'an are also familiar with.

In addition, Shanghai adopted the policy of digital renminbi marketing, and Dalian and Hainan provided good ports to use the digital yuan for gift delivery, e-commerce payment, payment terminals, ships and other questions.

Employers, third-party payment companies, stakeholders and other B-side scenarios

In terms of planning organization, the Joint Venture Corporation, which is a digital yuan joint venture, plans to expand the use of digital yuan to the digital realm. . new scenarios. industry platform.

Lakala said that the demand for digital RMB payments in the B-to-B market is very high and the next goal of the company is to enter the B-to-B digital RMB market, providing a solution of more and more convenient payment. - Commercial payments.

JD.com uses digital renminbi to pay its suppliers Ziguang Digital and Chongqing New Rishun, and looks for renminbi applications in payment situations. In addition, JD.com made it the first company in the country to promote "third party freelance work" to redeem the digital yuan by providing third party investors with access to the digital yuan.

National Energy Group Materials Company's e-commerce platform uses digital RMB to make B2B online payments on the "Guoneng e-purchase" platform.

Scenario analysis features: rural revitalization, green finance, cross-border payments

Rural revitalization

Coverage is the basis of a financial statement. The central bank's main objective to support the digital renminbi is to support the growth of the financial sector. Therefore, collaborating with the situation of "our rural" to help improve rural areas is an important application area for the digital renminbi.

In the current “agriculture” scenario, agro-industry is the key application scenario of the digital renminbi. Through the "Government Cooperative Cooperation", all drivers include the digital yuan in the agricultural industry, improving agricultural governance related to budget smart contracts and improving the digital yuan payment and solutions. At the same time, the central bank can integrate a digital renminbi hardware wallet, thereby reducing the problem that some people do not use or wish to use electricity.

green finance

The digital yuan is considered an important part of cash flow. The digital renminbi saves money on currency exchange rates and the need to print cash, which in itself is a low-carbon, cash device and payment tool . In addition, digital renminbi devices are programmable and can be charged with smart contracts for many complex payment tasks such as payment processing.

For example, in the process of trading carbon credits, often market competition is required and agreements need to be fulfilled, digital RMB with smart contracts appear, can be used as smart devices and payment devices. It can eliminate operational risks such as green credit, disclosure of information on digital RMB requests, internal control, etc., and increase spending through approvals and discounts.

Currently, some organizations representing Meituan have adopted the digital renminbi to become a competitor in the development of cash flow. Originally a bicycle rider, Meituan also uses the low-carbon digital RMB in business events such as transportation, food and travel.

In September 2021, the first month of the digital yuan cycling race started in Meituan, and in 9 cities, more than one million users opened their digital yuan wallets, creating a total of 889.96 million kilometers of green bikes. Compared to gasoline vehicles, it is expected to reduce CO emissions by 2,400 tons with the same transport volume, and users who open the RMB digital wallet option travel an average of 8.14% more than the same users. The group said it will develop a digital renminbi carbon neutrality pilot project. By 2022, city residents in digital yuan will be able to pay for their meals in digital renminbi when ordering from the Meituan app and Meituan Takeout app.

Cross-border payment

Holding the foundation for digital yuan development and supporting cross-border payment applications will boost international yuan trade. Due to the difficult demand for digital yuan in cross-border payment situations, it is still in the early stages of exploration.

In February 2021, financial institutions, international financial institutions, financial institutions in Thailand, financial institutions in the United Arab Emirates, and financial institutions in Hong Kong joined forces to create the Multilateral Central Bank Digital Currency Bridge ( mCBDC bridge). The role and performance of digital banking companies in cross-border payments.

In November of the same year, the Multilateral Central Bank Digital Currency Bridge Research Project published a book using data that describes 15 potential applications, including international discussions, economics, cross-border trading, and the financial chain. This experience uses the advantages of a gateway test platform to improve the efficiency of cross-border payments in the global economic situation and to achieve the business integration of bridging money and financial banking blockchain platform. of the People's Bank of China and Hong Kong. Hong Kong Trade Liaison Platform. Bond bridges provide proof of financial decisions and cross-border payments.

In March 2021, Shenzhen started experimenting with cross-border digital yuan payments, mainly targeting two types of people in Hong Kong. One is a Hong Kong resident who travels to Shenzhen multiple times, and a Hong Kong permit can be used to verify a real name. Another is a temporary visit to Shenzhen, where Hong Kong residents, for example residents only hold Hong Kong ID cards, can anonymously open 5 types of yuan digital wallets through their Hong Kong phone number. . After completing the trial and verification, Hong Kong residents can register anonymously using their Hong Kong mobile phone number and activate 5 types of small digital yuan wallets. point of sale systems