Digital currencies such as bitcoin and Ethereum use blockchain technology. They are decentralized currencies without a central bank. The total amount is fixed. For example, there are only 21 million bitcoins, which are a string of encryption codes. Digital RMB itself is still RMB, or the currency centered on the Central People's Bank of China. It just turns paper money into an online wallet.

As like as two peas, the value of bitcoin is not the intrinsic value, but the recognition of the market gives it its value. So volatility is very much related to the recognition of the market, and the value of the digital renminbi is exactly the same as that of the renminbi, and it is equal to the banknote.

There are only 21 million bitcoins. Therefore, bitcoins are for a few investors, which can not cover a large area and meet the needs of most people. Digital RMB can be issued at a high rate, which is for all people and enterprises. All people can use it to pay and store value.

Therefore, digital RMB is to replace the current circulation of cash, make payment more convenient, and the ultimate goal is to speed up the process of RMB internationalization. More convenient than Alipay payment and WeChat payment is digital RMB supporting offline payment, whether you are in the basement, in remote mountainous areas or on planes, you can pay with your heart, so the digital Renminbi makes our life more convenient.

In the game of great powers, the US dollar hegemony leads to the fact that the US can issue more than one trillion currencies at will, but it is the whole world that bears the consequences. The US can have a domestic financial crisis, but there has never been an international balance of payments crisis. The US has enjoyed the dividend brought by the status of US dollar as a national currency for many years. Who doesn't want to have such a dividend? Not only China, such as France, Sweden, Saudi Arabia, Thailand, Turkey and other countries are trying to develop the digital currency of the central bank. Therefore, a century war of international currency is irresistible, and the country that can win in the end will surely gain a strong international influence and a significant advantage in currency circulation.

At present, China's digital RMB has taken the lead in R & D for the time being, but the landing of digital RMB does not mean internationalization. To realize internationalization, we must first internationalize RMB, so we still need to make continuous efforts on this journey.

(2021-5-2)