Interpretation of Digital RMB Wallet by the Director of the Central Bank’s Institute of Data Science and Technology

The lowest-authority wallet can be opened with a mobile phone number

Yesterday was Beijing’s”Jingcai Struggle” On the red packet release day of the”Digital Carnival” digital renminbi pilot activity, 200,000 lucky winners will receive a 200 yuan red packet. To use red envelopes, you must first open a digital RMB wallet. What exactly is a digital renminbi wallet? What are its functions and uses? Mu Changchun, director of the Digital Currency Research Institute of the Central Bank, gave a detailed introduction in his speech at the 13th Lujiazui Forum.

The minimum-authority wallet single payment limit is 2000 yuan

Mu Changchun pointed out that the digital renminbi wallet is the carrier of digital renminbi. According to different dimensions, there are different types of digital RMB wallets.

According to the strength of customer identification, wallets can be divided into different levels. Operating agencies identify customers, and manage digital RMB wallets in layers according to the strength of customer identification, and assign different types of wallets with different per-transaction and daily transaction limits and balance limits based on the strength of their real names. The four types of digital RMB wallets with the lowest authority are anonymous wallets, with a balance limit of 10,000 yuan, a single payment limit of 2,000 yuan, and a daily cumulative payment limit of 5,000 yuan. It can be activated only with my mobile phone number, which embodies the design principle of controllable anonymity of digital renminbi.

If you want to pay more than 2,000 yuan to buy something, you can upgrade your wallet, upload your valid ID information and bind bank account information, for example, after upgrading to a second-class wallet, the upper limit of the wallet balance will be It becomes 500,000 yuan, the single payment limit is increased to 50,000 yuan, and the daily cumulative payment limit is 100,000 yuan.

Enterprises and institutions can also open public wallets

According to the issuer, digital RMB wallets can be divided into personal wallets and public wallets. Natural persons and individual industrial and commercial households can open personal wallets, and use classified transactions and balances according to the strength of corresponding customer identification Limit management; other legal persons and unincorporated institutions can open public wallets, and determine the transaction and balance limits according to whether to open at the counter or remotely. The wallet function can be customized according to user needs.

Hard wallets facilitate daily travel for the elderly under the epidemic

According to different carriers, digital RMB wallets can be divided into soft wallets and hard wallets.

Soft wallets include mobile payment apps and services provided by software development kits (SDKs); hard wallets include IC cards, wearable devices, and Internet of Things devices. For example, we launched a hard wallet product with a health code function for the elderly, which not only provides safe and convenient payment functions, but also facilitates the daily travel of the elderly under the prevention and control of the epidemic.

According to the ownership, digital renminbi wallets can be divided into parent wallets and sub wallets. The main wallet holder can set the main wallet as the parent wallet, and can open several sub-wallets under the parent wallet. Individuals can use the sub-wallets to realize functions such as limit payment, conditional payment, and personal privacy protection in payment scenarios. For example, if you want to hide private money or something, you can also manage the gift of relatives; companies and institutions can use sub-wallets to achieve fund collection and distribution, accounting processing, financial management and other functions.

Analysis

Build a wallet ecological platform

Meet the differentiated needs of users

Mu Changchun pointed out that the wallets of the above dimensions are combined in different ways. The wallet matrix system of digital renminbi is formed. On this basis, the central bank and designated operating agencies jointly develop basic payment function components, using smart contract to realize the time Conditional payment functions triggered by conditions, scene conditions, and role conditions, for example, the fund management function of a single-purpose prepaid card to avoid risks such as running out of cash. Designated operating institutions and other authorized institutions can further develop complex payment/financial products to build a wallet ecological platform, To meet the needs of multiple scenarios and achieve special functions. By building a digital renminbi wallet ecology, digital renminbi online and offline full-scenario applications can be realized to meet the differentiated needs of users with multiple subjects, multiple levels, multiple categories, and multiple forms, ensuring that digital renminbi wallets are inclusive and avoiding technical literacy or Rely on usage barriers caused by communication networks.

Reporter Cheng Jie

Source:Beijing Youth Daily