Blockchain circle

One stop hot information platform

About us:

Blockchain circle provides the latest information about blockchain, digital currency, digital wallet, exchange, metauniverse, bitcoin, Ethereum, contract, financial management and so on, and always pays attention to the latest market...

The application scenario of digital RMB accelerates to the b-end: improve the inclusive level and risk control efficiency

Time : 06/07/2022 Author : py302n Click : + -
        A few days ago, Jiangsu Branch of Bank of Jiangsu issued a loan of 1.1 million yuan to Suzhou farmers in the form of digital RMB, which attracted the attention of b-end scenarios such as digital RMB loans to small and micro enterprises. After more than two years of pilot, the digital RMB ecosystem has grown rapidly in the C-end scenario. Due to the reference and absorption of blockchain technology, it has controllable and traceable characteristics, and its development potential in the b-end has also attracted all parties to join the game. In the process of penetrating into the b-end, the practice of digital RMB is showing a multi-point flowering trend. Before Jiangsu, Tianjin, Xiamen and Qingdao have realized the scene expansion of digital RMB in the field of loans. In fact, compared with the C-end business that has achieved phased results, the implementation and promotion of digital RMB in the field of corporate payment at the beginning was not as hot as that of C-end.
 
        The white paper on the research and development progress of China's digital RMB released by the people's Bank of China shows that as of the first half of 2021, there have been more than 1.32 million digital RMB pilot scenarios, covering the fields of living payment, catering services, transportation, shopping consumption, government services, etc., opening more than 20.87 million personal wallets, more than 3.51 million corporate wallets, and a total of more than 70.75 million transactions, with an amount of about 34.5 billion yuan. Lianyirong told reporters that in addition to the C-end function, digital RMB has gradually penetrated into the b-end scenario, and has been applied to innovative scenarios such as supply chain finance and small and micro settlement through its real-time settlement, traceability and other characteristics.
 
        Public information shows that currently, lianyirong and Shenzhen Agricultural Bank of China jointly explore the scenario application of digital RMB in supply chain finance, and the two sides connect the digital RMB interface. In the supply chain finance scenario, digital RMB supports the payment, settlement, financing and other capital flow scenarios in the supply chain. "Early digital RMB needs to test the stability and the synergy between relevant institutions, so it mainly focuses on TOC business and faces individuals. The development cost is relatively low, and the user group is large. It can carry out operation testing. It can be landed on the e-commerce platform and payment end by sending red envelopes, lottery and other C-end methods." Wang Peng, associate professor of Gaoli Research Institute of Renmin University of China, told reporters that in general, digital RMB corporate transfer business includes large-scale payment, supply chain finance, cross-border transfer and other related businesses, and relies on the above businesses to carry out deeper application exploration, such as credit, insurance and inter-bank lending.
 
        Chen Jia, an international currency researcher at Renmin University of China, said that compared with C-end (for individuals) small businesses, the research and development of the scenario of digital RMB b-end (for the public) is more difficult, and its compliance requirements include anti fraud, anti money laundering and other dimensions, which is also one of the main reasons for its scenario landing slightly later than the retail scenario. According to the report released by zero one think tank in early 2022, the pilot areas of digital RMB are expanding from tax payment to insurance, e-commerce corporate payment and other scenarios. Previously, Shanghai has implemented enterprise digital RMB insurance policies; Combining the advantages of ports, Dalian and Hainan use digital RMB for futures delivery, e-commerce settlement, port payment and other scenarios.
 
        Yu Jianing, executive director of the yuan universe Industry Committee of China Mobile Communications Federation, President of Huoda education, and author of Yuan universe published by CITIC, believes that the scenario of digital RMB at the C-end mainly revolves around the pain points of users, while for the b-end, the core logic of the application of digital RMB is around the application scenario, especially in all aspects of enterprise management, such as enterprise procurement, inter enterprise payment and settlement, and risk control, Help enterprises improve upstream and downstream supply chain and other segmentation scenarios. Wang Peng also expressed his optimism for the b-end business to reporters, "although the development, operation and maintenance, and use costs related to the b-end business are relatively high, with the deepening and expansion of the digital currency application scenario in the future, serving the b-end business will become an important part.".
 
        For example, in the supply chain finance model, upstream and downstream credit can be combined with digital RMB. ". At the end of May, Shengye (06069. HK) announced that it had successfully implemented the innovative application scenario of "digital RMB + supply chain finance" under the guidance of Tianjin local financial supervision and Administration Bureau and the support of industrial and Commercial Bank of China Limited Tianjin Branch. Yu Jianing told reporters that the essential value of digital RMB is to make funds "catch up" with the speed of information (data). In the process of accelerating the construction of digital economy, we need data with high penetration and liquidity to conduct point-to-point real-time settlement. Digital currency promotes the combination of real logistics, information flow and capital flow, so that capital can become an integral part of information flow, which can play an important role in solving differences and resolving contradictions, so as to help data platforms, financial enterprises and upstream and downstream industrial chains optimize resource allocation and improve operational efficiency, Reduce operating costs.
 
        According to Shengye, based on blockchain technology and smart contract application, digital RMB can link all transaction records, and realize omni-directional tracking, traceability and tamper proof functions in the transaction link. "In this way, enterprises in the supply chain finance scene can more accurately verify the authenticity and rationality of transactions of small, medium-sized and micro enterprises, realize the tracing of the whole process of funds after lending, and at the same time, make use of smart contracts to formulate the conditions of use and prevent the misappropriation and interception of funds, which not only ensures the security of funds of supply chain finance enterprises, but also provides a verification way for the authenticity of transactions.". Public information shows that smart contract is a computer protocol that promotes, verifies or executes the negotiation or performance of contracts in a digital way.
 
        Smart contract is the core technology of blockchain, and blockchain is essentially like a distributed public ledger. All transactions are publicly recorded and cannot be tampered with. Therefore, smart contracts have the characteristics of automation, decentralization, tamperability, enforceability and so on. Digital RMB realizes programmability by loading smart contracts, which can limit the flow and use of funds. Smart contracts allow trusted transactions without third parties, which are traceable and irreversible. From the perspective of users, smart contracts are usually regarded as an automatic guarantee account. When certain conditions are met, the program will automatically release and transfer funds. "Relying on the past digital RMB transaction records, high-quality small, medium-sized and micro enterprises can more easily obtain supply chain financing. Because of the traceable transaction records of the whole process, small, medium-sized and micro enterprises can not meet the traditional credit access standards, which leads to the problem of expensive financing, solve the problem of mutual trust between lenders and borrowers, and further break through the dependence on the confirmation and guarantee of core enterprises.
 
        ”Shengye believes that. Lianyirong told reporters that smart contract technology has the advantages of speed, efficiency, accuracy, transparency and security, which enables digital RMB to conduct automatic payment transactions according to the conditions and rules agreed by both parties on the premise of ensuring safety and compliance, effectively avoiding errors caused by traditional manual filling, and improving work efficiency; At the same time, because there is no third party participation, it avoids the third party changing information due to interests in the traditional mode, and protects the legitimate rights and interests of the trading party and property security. In addition, financial institutions are also accelerating innovation. According to the wechat official account of Jiangsu Taicang local financial supervision and Administration Bureau, in June this year, the Suzhou Taicang branch of Agricultural Bank of China issued an inclusive loan of 1.5 million yuan to a local new material manufacturer in the form of digital RMB, which was paid to the upstream supplier's digital RMB wallet as raw material money.
 
        It is understood that this is the first digital RMB inclusive loan issued by a bank in China.
 
        
Previous:Daily market analysis of blockchain,Waves is also a stable currency. Why didn't they follow Luna's old path?
Next:No more

Related articles:



© 2005-2032 | Blockchain Circle & & All Rights Reserved    Sitemap1 Sitemap2 If there is infringement, please contact us at: