In the previous episode, we discussed the impact of the digital yuan on banks. Many people messaged me, wanting to know what the digital yuan is actually used for and why the country is issuing it. Today, I have compiled seven major benefits of the issuance of the digital yuan, each of which is closely related to us ordinary people. Please make sure to watch until the end:

Firstly, the first point is very attractive: the digital yuan does not require an internet connection for payment, which is quite different from the mobile payments that are popular now. This means that once the digital yuan is officially issued, as long as our phones have power, we can make quick payments from any corner of the world, regardless of whether there is an internet connection or not, and there are no transaction fees. Isn't that very convenient?

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The second point is the ability to quickly track the flow of funds. Unlike cash transactions, once the digital yuan is issued, every payment we make will be monitored without any blind spots, and every link will be traceable. Therefore, previously rampant activities such as fraud, money laundering, corruption, and illegal transactions will be closely monitored, which is undoubtedly a heavy blow to our country's efforts to combat illegal and criminal activities.

The third point is fast payment. The digital yuan is different from the currently popular electronic payments in that it only involves the payer and the payee, without the need for a third-party platform. This means that instant transactions can be realized very quickly, and it avoids the risk of personal information being collected and leaked by third-party platforms.

The fourth point is the flexibility of payment devices. In the future, even if our phones run out of battery, we won't have to worry. We can use wearable smart devices such as smartwatches and smart bands to conduct transactions. It can be said that the transaction scenarios in the future will bring us endless possibilities.

The fifth point is ease of statistics. After the issuance of traditional yuan, it is difficult to determine exactly where the money is, whether it is issued in too much or too little quantity, which is not conducive to the judgment of whether the country's economy is experiencing inflation or not. With the digital yuan, we can very accurately and clearly determine the quantity and distribution of yuan in the market, as well as the consumption situation of ordinary people. This is beneficial for statistics, tracking, and traceability, and it is very convenient to understand the proportion of funds in issuance, circulation, consumption, credit, and deposits, and to which fields the funds are flowing. This is advantageous for relevant departments to make timely adjustments.The sixth point is cost reduction. Previously, the production, anti-counterfeiting, printing, transportation, storage, wear and tear, and security of paper money and coins required a significant amount of human and material resources. The issuance of digital RMB completely eliminates these processes, saving a considerable amount of costs. It can be said that most of the cost expenditures have been saved.

The seventh point is national strategy. According to a report by an authoritative media outlet, the digital RMB issued by the central bank currently represents the country's financial technology advantage and national credit advantage. Our country's digital currency technology has reached an internationally advanced level. In the future, in global trade, our country's digital currency will play a very important role in our country's global strategic trade layout.

In fact, beyond the seven aspects mentioned above, the strategic significance of digital RMB goes far beyond these. In addition to scenarios closely related to our ordinary people, the issuance of digital RMB will also drive a comprehensive upgrade of informatization and digitization in our country's society, which has a huge impact on enhancing our country's international competitiveness.

In summary, at a critical time when the international community is complex and the domestic economy is sluggish, the strong introduction of our country's digital RMB will have important strategic significance. At the same time, for us ordinary people, it will also bring significant changes to our lives, completely changing our previous payment and settlement habits, and will better serve our daily lives.

So, what other benefits do you think the introduction of digital RMB will bring?

We welcome everyone to leave a message and comment, let's discuss together.

That's all for this episode. If you still want to know more about financial management, please leave a message for me.Please provide the text you would like translated into English.