Although many countries have launched digital currency layouts, and some countries have issued digital currencies, the issuance effect of digital currencies is not good. As digitization becomes a trend in the field of currency circulation and payment, the exploration of global central bank digital currency (Central Bank Digital Currency, referred to as CBDC) is in full swing. Central banks in various countries/regions have started feasibility discussions, research and development or empirical experiments on central bank digital currencies, and my country's digital renminbi layout has also made phased progress.

1. Central Banks of various countries are actively deploying digital currency projects

As digitization becomes a trend in the field of currency circulation and payment, the global Central Bank Digital Currency (CBDC) The exploration is in full swing.

A Bank for International Settlements survey of central banks in early 2021 found that 86% were actively studying the potential of CBDC, 60% were experimenting with the technology, and 14% were deploying it related pilot projects.

2. Countries/regions are actively deploying central bank digital currencies

From the perspective of digital currency layout, in recent years, central banks in various countries/regions have also started discussions on the feasibility of central bank digital currencies. , research and development or empirical experiments, but most countries have not yet issued digital currencies. Central bank digital currencies issued or planned to be issued by various countries have different characteristics, and the differences come from application fields, technologies used, etc.

3. A few countries have tried to issue digital currencies

At present, a few countries in Africa and Latin America have tried to issue central bank digital currencies. For example, Uruguay has issued a digital peso e-Peso. The reason why the country issued a digital currency was to reduce the extent to which the U.S. dollar could replace the local currency. However, after the pilot period, it was found that the issuance of e-Peso had little help in eliminating dollarization.

4. my country’s digital renminbi layout has made phased progress

my country’s digital renminbi layout has made phased progress. In 2014, my country began to prepare for digital renminbi, and accelerated the layout of digital renminbi in 2019. In 2020, the Central Bank's Digital Research Institute officially announced the first batch of pilot projects "four places and one scenario", including Shenzhen, Suzhou, Xiongan, and Chengdu, plus the Winter Olympics Meeting scenarios, all pilot projects have been implemented so far.

In 2021, the second batch of digital renminbi pilot tests for the public will include Shanghai, Hainan, Changsha, Qingdao, Dalian, and Xi'an. "Steady implementation of digital renminbi pilot tests" has become the People's Bank of China's top ten key tasks one.

The digital renminbi pilot areas, scenarios and forms are gradually expanding, and payment models are constantly being updated. Digital currency can subsequently provide online financial products such as loans, financial management, and insurance on the user side; on the enterprise side, it can provide value-added services such as digital marketing and supply chain management.

——For more detailed research and analysis of this industry, please refer to the "China Smart Bank In-depth Research and Investment Strategic Planning Analysis Report" by the Qianzhan Industry Research Institute