Recently, the improvement of digital RMB ecology has ushered in a number of landmark events. The upcoming Beijing Winter Olympic Games is considered to be an important opportunity for the promotion of digital RMB. The digital RMB app was launched on the eve of the Winter Olympics. It is expected that there may be a more mature and complete digital RMB ecological display during the Winter Olympics. The Winter Olympics may become an important opportunity for the development of digital RMB, which is expected to stimulate a new round of development of the industrial chain. In the context of deterministic growth, the demand for bank it system transformation and hard wallet is imminent.
With the Beijing Winter Olympics approaching, the digital RMB is actively preparing for the Winter Olympics, covering all the scenes. The Securities Times reporter learned that the Shijiazhuang Central Branch of the central bank has been following up the construction of Winter Olympic venues and improving the multi currency payment ecology. Vigorously promote the construction of digital RMB payment scenarios in competition venues. At present, 6 snow fields in Chongli district (Yunding, Taiwu, Wanlong, Fulong, duolemidi and Galaxy) and Zhangjiakou Mountain News Center have realized the acceptance of digital RMB. In terms of contracted hotels, 22 contracted hotels for the Winter Olympics have 100% signed and confirmed to support the acceptance of digital RMB payment; In terms of medical and health care, 8 designated hospitals for the Winter Olympics in Zhangjiakou competition area can use digital RMB for payment, and the two large chain pharmacies in Zhangjiakou have accepted digital RMB; In terms of transportation, Zhangjiakou and Huailai high-speed railway stations, Chongyan and Zhangcheng expressway toll stations, PetroChina gas stations under the jurisdiction of the city, Chongli bus station and Chongli bus station have all realized digital RMB payment acceptance, providing payment convenience for Winter Olympics related personnel and local people.
Since the second half of last year, the construction of payment service environment for the Winter Olympic Games and the pilot work of digital RMB have entered a sprint stage. According to the white paper on research and development progress of China’s digital RMB disclosed by the central bank in July, during the Winter Olympics, digital RMB will use smart contract technology to give digital RMB programmable characteristics and promote deep integration with application scenarios. In September 2021, fan Yifei, vice governor of the central bank, once led a team to Zhangjiakou and Beijing competition areas of the Winter Olympic Games to investigate the construction of payment service environment and digital RMB pilot for the Winter Olympic Games, and learn more about the progress of mobile payment service and digital RMB acceptance environment in the competition area. The arrival of the Winter Olympics will not only increase the number of users of digital RMB, but also further test scenarios such as cross-border exchange.
“The central bank once said that the Winter Olympics will be an important opportunity for the digital RMB pilot. The digital RMB app will be launched on the eve of the Winter Olympics. It is expected that there may be a more mature and complete digital RMB ecological display during the Winter Olympics. The Winter Olympics scene may become an important opportunity for the development of digital RMB and is expected to stimulate a new round of development of the industrial chain.” China Merchants Securities Co.Ltd(600999) said Liu Yuping, chief analyst of the computer industry.
Bank Of China Limited(601988) as the official banking partner of the Winter Olympic Games, it is responsible for the pilot service of digital RMB within the security red line of the Winter Olympic Games. At the same time, it provides two kinds of services of digital RMB soft wallet and Hard Wallet for individual customers. BOC has previously completed the development of self-service machines and tools for digital RMB and foreign currency exchange and other scenes for the Winter Olympic Games for overseas athletes.
At the policy level, the deployment of digital RMB is also more intensive. On January 6, 2022, the general office of the State Council issued the overall plan for the pilot of comprehensive reform of market-oriented allocation of factors, which proposed to support the pilot of digital RMB in multiple scenarios. The central bank working meeting in 2022 proposed to steadily and orderly promote the pilot of digital RMB R & D.
On January 4, the digital RMB app was publicly launched in the application market for the first time, and individual users in pilot cities can download, open and use it. Compared with the previous beta version released by major state-owned banks since March, the new version has added functions such as system level face recognition login and verification, money receipt voice and auxiliary verification methods to optimize the unified management and push of “sub wallet”. The addition of Weizhong bank further enriches its ecology. The “digital RMB” entry is added to the wechat payment “wallet” page of users with real name, and the “payment with digital RMB” option is added to the wechat “collection and payment” page. By scanning the digital RMB collection code through wechat or showing the wechat digital RMB payment code to the merchant, users can pay digital RMB conveniently. Based on the huge customer base of wechat and mature user payment habits, the addition of Tencent ecology is expected to further expand the audience of digital RMB and open a broad space for ecological development.
A series of progress in digital RMB also makes the relevant markets more deterministic, especially in the transformation of bank it system and hardware wallet. Guotai Junan Securities Co.Ltd(601211) according to the analysis in the research report, the demand for bank it system transformation and hard wallet is imminent. At present, the digital currency wallet is mainly operated by large banks. The industry experience accumulated by it suppliers of large banks in the construction of digital currency in the early stage will be exported to small and medium-sized banks by broadening the scope of digital RMB, thus giving birth to more bank it system transformation. On the other hand, the emergence of digital currency hard wallet will provide a new payment channel, which is directly linked to China’s population, or benefit the channel and application scenario providers spawned in this process.
(source: Securities Times)
