In 2020, China officially launched the pilot digital RMB in Shenzhen and other places, which can be directly traded through mobile devices such as mobile phones and is more secure than WeChat and Alipay. It is a kind of legal tender, and its attributes are equivalent to paper RMB.
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According to the official Weibo news of Tianxing Digital, Xiaomi Mall has launched a digital RMB payment service recently, and users in all pilot cities can use digital RMB to purchase goods on the Xiaomi Mall App.
At the same time, some offline Xiaomi Home stores can also pay with digital RMB directly, of which 56 Xiaomi Home stores in Beijing already support digital RMB payment.
It is worth mentioning that not long ago, the digital RMB (pilot version) App was put on the shelves of major Android App Stores and Apple AppStore.
At present, the digital renminbi is piloted in 11 regions including “Shenzhen, Suzhou, Xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian, and the Winter Olympics scene (Beijing, Zhangjiakou).
It is understood that the digital renminbi is a digital form of legal tender issued by the People’s Bank of China. It is operated by designated operating agencies and exchanged for the public. Based on a generalized account system, it supports the loose coupling function of bank accounts and is equivalent to banknotes and coins. It has value characteristics and legal compensation and supports controllable anonymity.
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