Core view
China dynamics: (1) launch of digital RMB app pilot version: on January 4, digital RMB (pilot version) app was launched in major android app stores and Apple App Stores; (2) Tencent’s access to digital RMB Ecology: after multi-stage controllable pilot in the early stage, Tencent began to provide users with digital RMB services on January 6; (3) Meituan takeout access to digital RMB Ecology: meituan digital RMB pilot scene has been widened again. Residents of pilot cities across the country can pay for meals in digital RMB when ordering takeout from meituan app; (4) Xiaomi’s access to digital RMB Ecology: Tianxing Digital Technology Co., Ltd. and Xiaomi mall launched digital RMB payment service. Users in all pilot cities can use digital RMB to buy goods in Xiaomi mall app; (5) JD’s access to the digital RMB ecosystem: JD has realized the access of third-party businesses to the digital RMB system, becoming the first batch of enterprises in China to support self operated + third-party businesses to use digital RMB; (6) Digital RMB launched a new scenario of digital city application: Bank Of Communications Co.Ltd(601328) Shanghai Branch, together with Shanghai Pudong New Area employment promotion center and relevant streets, successfully issued digital RMB employment subsidies to help the people; Xiangcheng District of Suzhou also provides the option of digital RMB in the scene of paying legal fees.
Overseas developments: (1) the power failure in Kazakhstan caused a sharp fluctuation in the computing power of bitcoin throughout the network. On the afternoon of January 5, 2022, Kazakhstan’s network connection was suddenly interrupted in a large area, and kazakhtelecom, Kazakhstan’s largest telecommunications provider, shut down the national Internet; (2) Several companies launched new virtual reality technology in CES: Qualcomm and Microsoft announced that they would cooperate to develop customized chips for AR glasses; NVIDIA announced that the company’s meta universe creation tool Omniverse will end its beta test and officially open to creators; Samsung will display the virtual home decorated with its home appliances and other products through the online platform “my house”, so that consumers can experience the virtual world more intuitively.
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.
