Core view
China’s dynamics: (1) more than 400000 Winter Olympics scenes of digital RMB landing. The sunken square of Beijing Winter Olympic village is specially equipped with commercial services such as licensed commodity stores, banks, postal services, haircuts and convenience stores. All businesses can use digital RMB to pay. On February 11, according to Wang Ying, deputy director of Beijing Municipal Bureau of local financial supervision and administration, the pilot of digital RMB has covered more than 400000 scenes of the Winter Olympics, with a transaction amount of 9.6 billion yuan. (2) The development of digital RMB standard is included in the top-level planning. The people’s Bank of China, together with the State Administration of market supervision, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission, jointly issued the 14th five year plan for the development of financial standardization. The plan proposes to steadily promote the development of legal digital currency standard. Comprehensively consider the security and credibility infrastructure, issuance system and storage system, registration center, payment transaction communication module, terminal application, etc., and explore the establishment and improvement of legal digital currency infrastructure standards. (3) Zhejiang Zhengyuan Zhihui Technology Co.Ltd(300645) accelerate the transformation and promote the innovative application of digital RMB.
Overseas developments: (1) UAE plans to provide licenses for virtual asset service providers. The UAE is preparing to issue a federal license for the virtual asset service provider (VASP) before the end of the first quarter to attract some of the world’s largest cryptocurrency companies. (2) The New York Stock Exchange plans to provide cryptocurrency and NFT trading. The New York Stock Exchange (NYSE) has filed an application with the United States Patent and Trademark Office (USPTO) to provide online markets for a variety of digital goods, including NFT, cryptocurrency, digital media and art. (3) Bing dwen dwen NFT blind box for sale. Bing dwen dwen NFT trading platform nWayPlay sells the digital blind box of ice pier pier authorized by International Olympic Committee at 1:00 a.m. Beijing time on February 12th. NWayPlay official website Bing dwen dwen said that the blind box was authorized by International Olympic Committee’s exclusive IP. The image of ice pier pier in the blind box will be displayed as an athlete, performing various winter sports such as alpine skiing, steel snowmobile, snowboarding, etc. Meanwhile, the blind box also contains 2 versions of the official emblem of Beijing 2022 Winter Olympic Games and a poster.
Risk tips
The implementation process of digital RMB and CBDC in various countries is less than expected; Regulatory uncertainty of blockchain application; Blockchain infrastructure construction was not as expected.
