Digital RMB Citizens Pay on Smartphone Experiment Begins Guangdong, China October 13, 5:24
In Guangdong Province in southern China, the first demonstration experiment in which ordinary citizens use digital currency for payment with smartphones has begun over the electronic currency "digital currency" that can be used in the same way as banknotes and coins.
The experiment was started on the 12th by the People's Bank of China, the People's Bank of China and the government of Shenzhen City, Guangdong Province.
In the experiment, "Digital RMB", an electronic legal tender that can be used like banknotes and coins, was distributed to 50,000 citizens by lottery, with 200 RMB per person and about 3000 yen in Japanese yen. It was.
Winning citizens will be able to obtain digital RMB by downloading a dedicated smartphone app, which will be available for payment using QR codes at more than 3,000 stores in the city until October 18.
A 29-year-old woman who used it immediately on the night of the 12th said, "I think it is more secure because it can be used in the same way as QR code payment of existing apps."
This is the first time that the People's Bank of China has distributed the digital yuan to the general public for demonstration experiments, and it seems that it wants to accelerate the preparation for issuance by proceeding with the verification of the payment system.
Central banks in each country, such as the Bank of Japan and the ECB = European Central Bank, are also researching digital currencies, and trends in China are likely to affect the efforts of each country.
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"Digital currency" Central banks of each country also research
The "digital currency" issued by central banks is being researched by central banks in each country, with China taking the lead.
On October 9, the Bank of Japan said, "There are no plans to issue it at this time," but said that it is necessary to carry out specific studies, and aims to start the first stage demonstration experiment within the Bank of Japan early next year. Announced.
In addition, ECB = European Central Bank and Sweden's Central Bank are also conducting research, and the US Federal Reserve Board of Governors has also announced that it will conduct research and experiments.
Behind the active movement of central banks in each country is the fact that Facebook, an American IT giant, has announced a plan to issue "Libra," a type of cryptocurrency asset that can be used for remittances across national borders.
However, there are a number of concerns that the role of existing currencies will be reduced if they become widespread with respect to "Libra," and the specific timing of issuance is unknown at this time.