At present, digital RMB has basically completed the top-level design, standard formulation, function research and development, and joint debugging and testing. It is understood that digital currency will first conduct internal closed pilot tests in Shenzhen, Suzhou, xiong'an new area, Chengdu and the future Winter Olympics.
If all goes well, in 2022, we will be able to unveil digital currency.
Recently, Yi Gang, governor of the People's Bank of China, made it clear that the digital RMB can be selected through fair competition in the market without presupposing a technical route. Blockchain technology can be considered, and new technologies evolved on the basis of existing electronic payment can be adopted to fully mobilize the enthusiasm and creativity of the market.
In other words, blockchain is a technical route considered in the research and development of digital RMB, but it is by no means the only choice.
Digital RMB and Bitcoin
Blockchain is the underlying technology of Bitcoin.
Like bitcoin, digital RMB realizes peer-to-peer payment through smart contracts, and has strict procedures for cross-verification, which is not easy to be forged.
Although they are all virtual currencies, the difference is that digital currency is legal tender in circulation and has legal effect; Bitcoin is a virtual asset with investment value.
Digital RMB and Blockchain
Although blockchain is not the only choice, the technology of blockchain is very competitive.
Digital RMB adopts a two-tier operation system, that is, the People's Bank of China does not directly issue and exchange digital RMB to the public, but first exchanges digital RMB to designated operating institutions, and then these institutions exchange it to the public. Operating institutions need to pay 100% reserve to the People's Bank of China, which is the conversion process of 1: 1
On July 28th, China Agricultural Bank announced that China Agricultural Bank Financial Technology Co., Ltd. (hereinafter referred to as "Agricultural Bank Branch") was formally incorporated in Beijing with a registered capital of 600 million yuan.
According to the announcement, the business direction of China Agricultural Bank Jinke Branch is mainly to use financial technology to carry out technological innovation, software research and development, product operation and technical consultation. In the recruitment announcement issued by China Agricultural Bank Jinke Branch, the author found a position of software research and development: blockchain R&D engineer.
The main responsibilities are: blockchain technology application research, project construction and optimization, promoting the development and optimization of banking business based on blockchain, and providing solutions.
From these actions, we can see that blockchain technology is one of the key technologies for banks to develop. No matter what the final digital RMB is, blockchain technology will push us to continue to progress and develop.
Author: small chain financial world