Since last year, the digital renminbi has become one of the focuses of people’s attention. As long as there is a stir, it can be on the hot search list. At present, the digital renminbi has been internally closed-tested in Shenzhen, Suzhou and other places, but to most people, it is still mysterious. In the “China Financial Stability Report (2020)” released on November 6th, the People’s Bank of China pointed out that there is no timetable for the official launch of the digital RMB system.

   has not officially appeared, but various rumors about the digital RMB have already spread on the Internet. Digital renminbi wallets must be bound to mobile phone numbers, digital renminbi cannot be exchanged for gold and foreign exchange, digital renminbi will replace existing third-party mobile payment tools… Are these messages true or false? Journalists from Science and Technology Daily interviewed relevant authoritative experts to clarify misunderstandings about digital RMB for readers.

  Rumor 1: The digital renminbi wallet needs to be bound to a mobile phone number?

   Truth: It is not necessary to bind, it is just one form of authentication

   Mu Changchun, director of the Digital Currency Research Institute of the People’s Bank of China, said in an interview with the media that the digital RMB account does not have to be bound to a mobile phone number. It is just that the mobile phone number is used to open a digital RMB wallet to receive authentication information such as verification codes. Other forms of certification may appear in the future.

  ”Digital wallet is a management software for storing digital RMB addresses and passwords.” Huang Guoping, director of the Investment and Financing Research Center of the Chinese Academy of Social Sciences, said in an interview with a reporter from Science and Technology Daily that opening a digital wallet requires identification information that can reflect the uniqueness of identity , As long as it is a unique identification, it can be used to open a digital wallet, and the mobile phone number is just one of this type of identification information. In the future, passport numbers, fingerprints and other identification information that can reflect the uniqueness of identities may also be used to open digital wallets.

  Rumor 2: Digital RMB cannot be exchanged for gold and foreign exchange?

   Truth: Yes in the pilot phase, but the future depends on policy

   Recently, the news that “digital renminbi cannot be exchanged for gold and foreign exchange” has been spread wildly on the Internet.

   “In the pilot phase, in order to attract more people to use digital renminbi, the policy may be looser, allowing digital renminbi to be exchanged for gold and foreign exchange. I personally think it can be regarded as a short-term incentive.” Huang Guoping said.

   However, in Huang Guoping’s view, in the long run, it is unlikely that the digital renminbi can be freely converted into gold and foreign exchange in the future. “Digital renminbi is the digitization of banknotes. The digital renminbi has all the functions of banknotes, but neither does the digital renminbi. Since banknotes cannot buy gold and foreign exchange, the digital renminbi is highly unlikely. However, since The digital renminbi has not been officially launched, and relevant policies are still being studied and discussed. Whether it can be exchanged for gold or foreign exchange will ultimately depend on the national currency and foreign exchange policy.”

  Rumor 3: Digital RMB will replace third-party payment tools?

  The truth: one is money and the other is a wallet, not in the same dimension

   The emergence of third-party mobile payment tools such as WeChat and Alipay has brought people a brand-new payment experience. You can swipe it and consume easily. The emergence of digital renminbi has made many young people believe that it will replace WeChat and Alipay. Is it really the truth?

   Mu Changchun said that WeChat, Alipay and digital RMB are not on the same dimension. WeChat and Alipay are financial infrastructures and wallets, while digital renminbi is the money in the wallet. In the electronic payment scenario, the two wallets, WeChat and Alipay, contain Renminbi that people store in commercial banks. After the digital renminbi is issued, everyone can still use WeChat and Alipay to pay, but the money in the wallet adds to the digital renminbi.

   On this, Huang Guoping expressed his views. He believes that the purpose of the country’s launch of digital renminbi is not to replace WeChat and Alipay. The new payment system built around digital renminbi will become an important supplement to electronic payment, but technically the new payment system does exist to replace the existing payment system. Possibility.

  ” When using third-party mobile payment tools to make payments, many of our personal information may be obtained by these third-party payment platforms. However, if you switch to using digital renminbi for transactions, personal privacy will not be used by third parties The payment platform obtains it to ensure that both parties of the transaction conduct transactions anonymously, ensuring that personal privacy is not leaked. In the long run, new payment tools must have more advantages than existing mobile payment tools, so there is a possibility of substitution. However. In the short term, since the digital renminbi is still in the pilot stage, whether it can technically take into account safety and convenience, and whether the technical system is complete, needs further verification.” Huang Guoping said.

  Rumor 4: Digital RMB will soon replace paper money?

  The truth: it is impossible to be restricted by technology in the short term

  The digital renminbi is about to be released, and many people feel that with the arrival of digital currency, paper currency will completely withdraw from the stage of history.

  Relevant experts believe that digital currency cannot completely replace cash. At least for now, there are still some technical limitations. In addition, due to different user habits, not everyone is willing to accept this payment method. For example, some older people may not want to use digital currency.

   In this regard, Huang Guoping believes that in theory, digital renminbi cannot replace banknotes in recent years, but perhaps in 10 or 20 years, digital currencies will eventually replace banknotes.

  ”Compared with traditional paper money, digital currency has many advantages. It has the characteristics of environmental protection, high efficiency, and safety. The cost of issuing digital currency is almost zero, while the cost of issuing paper money is very high.” Huang Guoping said, once the digital RMB The establishment of a mature issuance system, from 100 million yuan to 1 billion yuan, only needs to hit the keyboard; while paper banknotes need to be printed, and damage recovery also costs.

  ”From a policy and legal point of view, digital currency and banknotes are equal, and they are freely convertible. However, from the perspective of technological development, it is a general trend that electronic currency replaces banknotes, and this is also the trend of future development in various countries. “Huang Guoping said.

  Extended reading

  , let’s take a look at the reliable knowledge of digital RMB

   First of all, what is a digital RMB?

  Digital renminbi is issued by the People’s Bank of China, operated by designated operating institutions and exchanged for the public. It is based on a broad account system and is equivalent to banknotes and coins. It has value characteristics and is controllable for legal compensation. Anonymous payment tool.

  How to use digital RMB?

  Dong Ximiao, a special researcher of the National Finance and Development Laboratory, said that when using digital renminbi, there is no need to open a bank account or a payment account, as long as the digital renminbi wallet is installed, it can be used. Not only that, the digital renminbi uses the latest dual offline technology, which can still be used even when the mobile phone has no signal. As long as you touch a mobile phone equipped with a digital renminbi wallet, you can easily complete transfer or payment.

   Then, when can we use the digital renminbi?

  ”The digital renminbi is still in the pilot phase. When it will be promoted and popularized, it is still unknown. During the pilot process, the digital renminbi may have technical and security problems. If these problems can be solved, there will be The possibility of comprehensive promotion.” Huang Guoping said.

  What benefits will digital renminbi bring to ordinary people?

   Huang Guoping believes that digital RMB has many advantages. “It is green, environmentally friendly, and convenient for transactions. It not only supports online transactions, but also offline transactions, and it is safe and stable. The digital currency launched by the People’s Bank of China is endorsed by national credit, has legal compensation, and has a stable currency value.” He said.

  Hao Yi, a researcher at the Bank of China Research Institute, believes that, first of all, the digital renminbi is a legal currency with unlimited legal solvency, which can effectively break the existing transaction barriers. Secondly, the digital renminbi helps to unify payment standards, build a unified standard financial infrastructure, reduce the waste of resources caused by inconsistent standards and transaction barriers, and save transaction costs. (Reporter Zhang Yun)