On January 4, the reporter learned that the digital RMB App (pilot version) has been publicly launched on Huawei App Market and Apple App Store.
According to the introduction, the Digital RMB (pilot version) App is the official service platform of China's legal digital currency -- digital RMB for individual users. It provides the opening and management of digital RMB personal wallet, and the exchange and circulation of digital RMB. The digital yuan App is still in the normal testing phase of the development process, and whitelisted users in the pilot regions and scenarios expanded by operators can register for the digital yuan App.
Compared with the previous procedure of installing the APP only after the code exchange, application and approval are passed, the pilot version is simple to operate and greatly improves the user experience. After hearing the news, many people in the pilot areas immediately downloaded the App and posted screenshots of the successful opening to see what functions the DIGITAL RMB App has. "The digital yuan has been put on the app store, but it's a pity that it can't be used in my region. I'm looking forward to the day when it can be used in the whole country."
Compared with the previous version, the pilot version has been upgraded in terms of functionality and partitions. For example, in terms of interface, it is divided into three major sections: home page, service and ME. In the service plate, including sub-wallet, red envelope, post a post and other functions.
Since 2021, the public acceptance of digital RMB has been constantly improving, and has made remarkable achievements in the pilot scope, participating institutions, application scenarios, and opening of individual wallets.
At present, the digital RMB is still in the regular testing stage of the research and development process. The pilot cities have been expanded from Shenzhen, Suzhou, Chengdu and Xiongan New Area to form a "10+1" pattern. The current pilot areas include Shenzhen, Suzhou, Xiongan, Chengdu, Shanghai, Hainan, Changsha, Xi 'an, Qingdao, Dalian and the Winter Olympics scene. Operating institutions participating in the pilot have also been extended to e-commerce Bank, Webank and China Merchants Bank on the basis of the six major banks.
"The open download of the digital yuan has promoted the popularity of the digital yuan and improved the convenience of using the digital yuan." Pan Helin, a member of the Information and Communication Economy Expert Committee of the Ministry of Industry and Information Technology and executive dean of the Digital Economy Research Institute of Zhongnan University of Economics and Law, told China Business News.
In The opinion of Pan Helin, the main difficulty in the future popularization of digital RMB lies in its popularity, while the key to improve its popularity lies in the following: first, communication channels. Currently, smartphone App is the best communication channel. It is more convenient for users to obtain digital RMB by binding all application scenarios through one App. Second, ease of use. The simpler payment App is, the more popular it is in the society, which is also the advantage of mobile payment over traditional payment methods such as credit cards. Digital RMB App combines these two aspects, thus providing help for the popularization of digital RMB application in the future. "Of course, at the present stage, there are still many restrictions, such as designated pilot areas and white lists, but the listing has brought a lot of expectations to people across the country."
Since 2021, the People's Bank of China has steadily promoted the RESEARCH and development of digital RMB, and made solid progress in key projects such as the pilot project for the Beijing Winter Olympics. In July 2021, the People's Bank of China issued a White Paper on the Research and Development of China's Digital RMB to the public. The 2022 working conference of the People's Bank of China called for comprehensive improvements in financial services and management, including "steady and orderly promotion of digital RMB research and development pilot projects".
According to the latest official data, as of October 22, 140 million digital RMB personal wallets and 10 million enterprise wallets had been opened, with a total of 150 million transactions and a turnover of nearly 62 billion yuan. Digital YUAN wallets are supported by 1.55 million merchants, covering utilities, catering services, transportation, shopping and government affairs.