The Central Bank of China: The digital renminbi system collects less transaction information than traditional electronic payment models

  China News Service, Beijing, July 16 (Reporter Wang Enbo) The People's Bank of China released the "White Paper on China's Digital RMB R&D Progress" on the 16th, stating that the digital RMB system collects less transaction information than traditional electronic payment models, except for laws and regulations. , Not available to third parties or other government agencies.

  The white paper introduces that the design of digital renminbi takes into account the advantages of physical renminbi and electronic payment tools. It not only has the characteristics of payment and settlement and anonymity of physical renminbi, but also has the characteristics of low cost of electronic payment tools, strong portability, high efficiency, and resistance to forgery.

Digital renminbi is positioned at M0 (cash payment voucher), which is consistent with the physical renminbi that belongs to the M0 category, and no interest is calculated on it.

  The management method of digital renminbi is the same as that of physical renminbi. The People's Bank of China does not charge designated operating institutions for exchange and circulation service fees, and designated operating institutions do not charge individual customers for digital renminbi redemption and redemption service fees.

From the perspective of settlement finality, digital renminbi is loosely coupled with bank accounts, and funds transfer based on digital renminbi wallets can realize payment and settlement.

  In terms of anonymity, the digital renminbi follows the principle of “anonymity of small amounts and traceability of large amounts according to law”, attaches great importance to the protection of personal information and privacy, fully considers the business risk characteristics and information processing logic under the existing electronic payment system, and meets the public’s response to small amounts. Demand for anonymous payment services.

At the same time, prevent digital renminbi from being used in telecommunications fraud, online gambling, money laundering, tax evasion and other illegal and criminal activities, and ensure that relevant transactions comply with anti-money laundering and anti-terrorist financing requirements.

  The white paper emphasizes that the People's Bank of China has set up a "firewall" for digital RMB-related information, and strictly implements information security and privacy protection management through specialized personnel management, business isolation, hierarchical authorization, post checks and balances, and internal auditing, and prohibits arbitrary query and use .

  The white paper also stated that the digital renminbi uses digital certificate systems, digital signatures, secure encrypted storage and other technologies to achieve features such as non-repeatable spending, non-illegal copy and forgery, non-tamperable transactions, and non-repudiation, and a multi-level security protection system has been initially established. Ensure the safety and risk control of the entire life cycle of the digital renminbi.