中国中央银行正在稳步推进数字货币的研发试点工作。"数字人民币". Some key characteristics were further explained by a senior official on Monday.
As the 数字人民币 is a replacement of cash in circulation, or the M0, instituions and individuals should accept any private or public debt repayment by the 数字人民币. "It is not allowed to reject the digital currency payment," the central bank official wrote.
The value of the digital currency is equivalent to banknotes and coins, which has the feature of "controllable anonymity", according to Fan, who added the issuance and management system of the 数字人民币 is centralized, with PBOC at the core.
The PBOC is responsible for the "wholesaling" of 数字人民币 to designated commercial banks, and in charge of the whole "life-cycle" management of the system. Commercial banks and other institutions are responsible for providing 数字人民币 exchange and circulation services to the public.
The central bank will control the issuance quota of the 数字人民币, working out unified technical, security and application standards. In addition, it will manage 数字人民币 wallets, which allow users to deposit money into an account stored on their electronic devices.
"The 数字人民币 is a public product provided by the central bank. It does not pay interest, nor does the central bank charge for services such as exchange and circulation," the article said.