In digital currency, floor trading usually refers to the way of trading in the designated digital currency Stock Exchange. The advantage is that you don't need to be online for a long time, you only need to set the purchase price, and you will automatically complete the entrustment after reaching the purchase price, and there will be no transaction disputes.
Therefore, this transaction method is generally more convenient, but the disadvantage is that the transaction is a currency transaction and cannot be purchased directly with RMB.
Transactions outside the trading platform are collectively referred to as OTC, also known as OTC. OTC is sometimes similar to Taobao's model. Merchants publish their purchase information online, and buyers can directly buy digital currency products such as Bitcoin with French currency, which is simple and convenient. It has also become a way of using digital currency, which is used by many people now.
Digital RMB, abbreviated as "e-CNY" according to international usage practice, is a legal tender in digital form issued by the People's Bank of China, operated by designated operating institutions and exchanged by the public. Based on the generalized account system, it supports the loose coupling function of bank accounts, which is equivalent to paper money and coins, has value characteristics and legal compensation, and supports controllable anonymity.
The concept of digital RMB has two key points. One is that digital RMB is legal tender in digital form; Another point is that it is equivalent to paper money and coins. Digital RMB is mainly located in M0, that is, cash and coins in circulation.
Mainly positioned as cash payment voucher (M0), which will coexist with physical RMB for a long time, and is mainly used to meet the public's demand for digital cash and help inclusive finance.
R&D test has basically completed the top-level design, functional research and development, system debugging and other work, and is following the principles of stability, safety, controllability, innovation and practicality, and selecting some representative areas to carry out pilot tests.
Two-tier management system
Digital RMB adopts a two-tier operation system. That is, the People's Bank of China does not directly issue and exchange the central bank's digital currency to the public, but first exchanges the digital RMB to designated operating institutions, such as commercial banks or other commercial institutions, and then these institutions exchange it to the public. Operating institutions need to pay 100% reserve to the People's Bank of China, which is the conversion process of 1: 1 This two-tier operating system is basically the same as issuing paper money, so it will not have a big impact on the existing financial system, nor will it have a big impact on the real economy or financial stability.
DC/EP delivery adopts a two-tier operation mode, which does not compete with the traditional operation mode of commercial banks, and at the same time, it can give full play to the enthusiasm of commercial banks and other institutions in technological innovation: digital currency delivery system ensures that DC/EP is not oversubscribed, and only when the currency generation request meets the verification rules will it send the corresponding quota voucher.
Legal Tender
Digital RMB, issued by the People's Bank of China, is the legal tender with the ability of national credit endorsement and legal compensation.
Compared with virtual currencies such as Bitcoin, digital RMB is legal tender, equivalent to legal tender, and has the highest effectiveness and security. Bitcoin is a virtual asset, which has no value basis, does not enjoy any sovereign credit guarantee, and cannot guarantee the stability of its value. This is the most fundamental difference between digital currency, the central bank and bitcoin.