Author: Liu Xingliang, President of DCCI Internet Research Institute

　　The central bank’s lottery and How to find it is coming!

　　A photo of the central bank’s lottery and How to find it in the Agricultural Bank’s pilot account was circulated on the internet. Media reports indicate that Xiangcheng District, Suzhou, is an important pilot area for the central bank’s lottery and How to find it (DC/EP). The staff of all district-level government agencies and enterprises and institutions in Xiangcheng District, Suzhou, who are responsible for issuing wages through the four state-owned banks – Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, and Bank of China, will complete the installation of the central bank’s lottery and How to find it digital wallet in April. In May, 50% of their traffic subsidies will be distributed in the form of lottery and How to find it.

　　Subsequently, the central bank openly admitted that the information about DC/EP currently circulating on the internet is test content in the process of technology research and development, and does not mean that the digital renminbi has officially landed and been issued.

　　The central bank also officially announced four pilot sites, namely: Shenzhen, Suzhou, Xiong’an, and Chengdu.

　　Regarding this matter, I have received interviews from many media outlets in the past two days and will answer the top 10 questions that everyone is most interested in collectively:

　　1. What is the Central Bank’s lottery and how to find it?

　　The Central Bank’s lottery and how to find it is not a new thing at all. It can be traced back to 2014, when the governor was Zhou Xiaochuan. That’s 6 years of time.

　　Last year, I predicted many times that the central bank is likely to issue the lottery and how to find it in the first half of this year. Look, even I can predict it, which means it’s not that mysterious.lottery cheats and The latest entrance

　　To put it simply, the Central Bank’s lottery and how to find it refers to the lottery and how to find it issued by the central bank, which belongs to the central bank’s liabilities, has national credit, and is equivalent to legal currency.

　　The definition given by Mu Changchun, the director of the Central Bank’s lottery and how to find it Research Institute, is ‘its functional properties are completely the same as paper money, but it is in a digital form’, ‘it is a digital payment tool with value characteristics’.

　　Are you still confused? Then let me make a comparison.

　　The lottery and how to find it is still money, just like cash. In the past, money had to be printed one by one by the mint. If it’s a billion, then you need to print a million red 100 notes. The lottery and how to find it is simpler; a billion is just a computer code. Before your eyes have even blinked, the small goal has been achieved.

　　2. What does DC/EP mean?lottery methodJust need you

　　DC/EP is the English abbreviation for the Central Bank’s lottery and how to find it. Among them: DC=digital currency is the lottery and how to find it, EP=electronic payment is electronic payment

　　3. Why does the central bank issue the lottery and how to find it, and what’s the secret behind it?

　　There’s nothing special about it. It’s just a natural trend of development.

　　From shells to knife coins, to gold and silver, copper coins, and then to paper money, the emergence of the lottery and how to find it with the development of the internet, AI, and blockchain technology is an inevitable trend, nothing more.

　　We should be grateful to have witnessed the replacement of a currency and become a historical witness to the evolution of money.

　　4. How to use the Central Bank’s lottery and how to find it? Can it be paid for without an internet connection?

　　Install an APP on your phone, and you can use it without binding any bank account. It’s a bit like WeChat Pay or Alipay, but without the step of binding a bank card. It can also work without an internet connection; just tap two phones together, and the payment is complete.

　　It is not necessarily a phone; smartwatches, smart glasses, smart necklaces, smart pants pockets, and smart shoes with installed smart devices can all be used.

　　The safest way is to use a dedicated solid digital wallet, a dedicated hardware. Besides the digital wallet, there is no other use, which is safer than using the APP on your phone.

　　5Online casinoJust need you. What are the differences between lottery and How to find it and WeChat Pay, Alipay?

　　On the surface, there are not many differences between lottery and How to find it, WeChat Pay, and Alipay, but in fact, the differences behind are huge. I will highlight three points:

　　On the other hand: When you go shopping now, you should ask if you can use WeChat or Alipay, because the other party may not use them, and you have no choice, for example, some state-owned parking lots and toll stations do not accept them. But if the other party refuses to use the central bank lottery and How to find it, it is illegal.

　　On the one hand: WeChat Pay and Alipay are not money, but a circulation channel, a payment method, while the central bank lottery and How to find it is legal currency, fundamentally different.

　　The next point: behind the central bank lottery and How to find it is the national credit; behind WeChat Pay and Alipay are Tencent and Alibaba’s corporate credit.

　　6. What are the differences between the central bank lottery and How to find it and Bitcoin?

　　After the news of the central bank lottery and How to find it came out, many people exclaimed: The state is issuing currency! Many Online casino and How to find it practitioners even cried with joy!

　　In fact, these people are overthinking it. The central bank digital currency and Bitcoin, Ethereum, Libra, and others are fundamentally different, with essential distinctions.

　　The central bank lottery and How to find it is a legal lottery and How to find it, issued by the state; Bitcoin and others are illegal lottery and How to find it, called Online casino and How to find it. Simply put, within the framework allowed by law, anyone can issue it.

　　The natural attribute of Bitcoin is decentralization, while the central bank lottery and How to find it is a centralized management model. The central bank lottery and How to find it and the Online casino and How to find it represented by Bitcoin are not the same concept.

　　The essence of the central bank’s lottery and How to find it is still currency, not Bitcoin, so its price volatility will be very large.

　　7. Having been accustomed to mobile payments and not carrying cash, why do we still need to promote lottery and How to find it?

　　Firstly, although many people are accustomed to mobile payments, cash is still used in many scenarios. The currently circulating M0 (paper money and coins) is very easy to be counterfeited anonymously, which is used for illegal activities such as money laundering and terrorist financing. The central bank designs lottery and How to find it to replace M0, enhance the security of currency, and also increase the cost of crimes such as money laundering and terrorist financing.

　　Secondly, the issuance, printing, collection, storage, and anti-counterfeiting of M0 (paper money and coins) have very high costs at all stages. The use of lottery and How to find it can reduce these costs.

　　Again, it meets some normal anonymous payment needs of people.

　　Finally, the country’s management becomes more convenient.

　　8. Will the central bank’s lottery and How to find it challenge the status of WeChat Pay and Alipay?

　　This is the question that the media likes to ask the most. Almost all the media that interviewed me asked this question.

　　This is an industry issue, and ordinary people are actually not particularly concerned. From the consumer’s perspective, it is actually just a matter of use, and they are not concerned about the complex relationships and nature behind it. Who is convenient and safe, that’s who they use.

　　In the short term, the use scenarios of Alipay and WeChat are already very rich, and the launch of the central bank’s lottery and How to find it may not bring too much surprise. But in the long term, the central bank’s lottery and How to find it will definitely challenge the status of WeChat Pay and Alipay.

　　9. Will cash be completely replaced?

　　This is inevitable, and the future will definitely move towards a ‘cashless society’online casino and Latest. This is the original intention of the central bank’s lottery and How to find it. But this process will be very long, at least a dozen years, even several decades.

　　10. Will it lead to unemployment for some people?

　　Yes, all personnel involved in the entire industrial chain of cash production, manufacturing, and circulation are facing the risk of unemployment. Of course, the unemployment of related personnel and the complete replacement of cash are both long processes.

　　These personnel include but are not limited to: (1) all staff of the mint; (2) most of the bank staff, especially the ordinary tellers; (3) cash transport drivers, security personnel; (4) ATM machine producers and maintenance personnel; (5) wallet sellers…

　　In the past, if someone in your family worked in a bank, it was enviable, at least they would come to you for new money during the Spring Festival; if someone in your family worked in a mint, it was still enviable, as if your family would never be short of money…

　　The world has changed!