As of February 2022, Shenzhen Walmart can use digital renminbi for payment.
China’s research and development of a digital RMB system aims to create a new type of RMB in digital form for the purpose of meeting the public’s cash needs under the conditions of the digital economy, and to support reliable, robust, fast, efficient, and continuous innovation in the field of retail payments. , open and competitive financial infrastructure to support the development of China’s digital economy, enhance the development level of inclusive finance, and improve the operational efficiency of the currency and payment system.
The research and development and application of legal digital currency will help effectively meet the public’s demand for legal currency under the conditions of the digital economy, improve the convenience, security and anti-counterfeiting level of retail payments, and boost China’s digital economy. Accelerate development.
Basic characteristics of digital renminbi - legal currency:
Digital renminbi is issued by the People's Bank of China and is a legal currency with national credit endorsement and legal solvency.
Compared with virtual currencies such as Bitcoin, the digital renminbi is a legal currency and has the same value as legal currency. Its effectiveness and security are the highest. However, Bitcoin is a virtual asset without any value basis. It also does not enjoy any sovereign credit guarantee and cannot guarantee value stability. This is the most fundamental difference between central bank digital currency and crypto-assets such as Bitcoin.
Reference for the above content: Baidu Encyclopedia-Digital RMB