A picture to understand the past and present of the central bank's digital currency DCEP

The central bank’s digital currency is about to come out again!

On April 15, it was reported that the central bank digital currency DCEP, which is being developed by the People's Bank of China, has begun internal testing at the Agricultural Bank of China. A screenshot of the internal testing wallet confirmed the outside speculation that the central bank digital currency will be tested and launched first at the four major banks. It is understood that this internal test only opened a whitelist for branches in Shenzhen, Xiong'an, Chengdu, Suzhou and other regions.

According to PANews's previous analysis, since February 2020, Alipay has successively announced five patents related to DCEP, covering issuance, transaction records, digital wallets, anonymous transaction support, and assistance functions in supervising and handling illegal accounts. It has basically achieved complete support for the issuance of DCEP. Among the patents related to the central bank's digital currency, ICBC, as the leader of the four major banks, continues to maintain its leading position in DCEP-related patents.

Although people close to the regulator responded that there is no official statement on the specific extent, there is no doubt that related companies continue to prepare for the official launch. According to PANews statistics, since 2019, the number of blockchain-related patents applied for by various banks has gradually increased. Among them, ICBC has 38, BOC has 14, and ABC has 7.

For more ordinary users, what exactly is the central bank digital currency? Will it replace the current payment tools? PANwes has prepared a One Pager, which will let you know the past and present of the central bank digital currency in one picture.

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