Since 2014，bonus bet365 has completed theoretical research、Frame design、Basic work such as project research and development，Enter the continuously expanding pilot testing phase from the end of 2019。With the orderly expansion of pilot areas and the continuous expansion of scenario applications，The popularity and influence of bonus bet365 have increased significantly，Especially its “double-tier operation” model、Wallet matrix and related scene ecology、Technical architecture, etc. have been fully verified。Positioning as a fiat digital currency around new retail payment infrastructure，bonus bet365 plays a role in “security、General、Multiple advantages of inclusiveness，Played a positive role in promoting the implementation of policies in the economic and financial fields，Laid a good foundation for larger-scale comprehensive promotion。

1st，Promote inclusive finance，Serving rural revitalization。Rapid iteration and promotion of digital technology，Can significantly improve information asymmetry，Reduce financial service costs，Thus greatly improving the efficiency of inclusive finance。The pilot process of bonus bet365 in my country，Fully verified the effectiveness of digital inclusive finance。Fiat digital currency as a new retail payment infrastructure，bonus bet365 always takes “security and inclusiveness” as the first principle。On the one hand，bonus bet365 improves the availability of financial services。Its loosely coupled account design eliminates the need for residents in remote areas to hold traditional bank accounts，You can also open and use a bonus bet365 wallet，Further expanded the coverage of basic financial services。On the other hand，bonus bet365 can alleviate the barriers to use caused by the “digital divide” to a certain extent。For example，bonus bet365 various hardware wallets and smart watches、Bracelet、Wearable devices such as crutches for the elderly as carriers，For the elderly、Provide payment services for specific groups such as people with disabilities，Not only broadens the application scope of digital payment methods，Also embodies the value concept of humanistic care in digital technology。Meanwhile，The inclusiveness of bonus bet365 will also empower “strengthening financial services for rural revitalization”。With the expansion of bonus bet365 application scenarios，The majority of farmers can enjoy no transaction fees、Funds arrive in real time、Convenient financial services that support “dual offline payment”；Relying on low cost、The advantage of high efficiency，bonus bet365 can also become a direct tool for the release of government funds，While improving policy convenience and accuracy，Greatly reduces the cost of targeted policies to strengthen agriculture, benefit farmers and enrich farmers。

Second，Precisely promote consumption，Promote economic recovery。Research has shown，Issuing consumer coupons for targeted industries can boost demand、Increase consumption、The role of stimulating the economy。First half of 2022，Affected by the new coronavirus epidemic，Governments across my country actively deploy to stimulate the economy、Policies to promote consumption。In the process，bonus bet365 pilot areas organically combine bonus bet365 red envelope activities with policies to boost consumption，Only since June 2022，Already in Beijing、Chengdu、Guangzhou、Fuzhou、Wenzhou、Shaoxing and other places issue bonus bet365 red envelopes to promote consumption，The total amount has exceeded 300 million yuan。Judging from the practical effects of the activities，Issuing bonus bet365 red envelopes not only plays the role of traditional consumer coupons in promoting consumption，It also helps to better evaluate industrial support policies，Promote the accelerated recovery of the consumer market from the supply side and demand side，Play a positive role in expanding domestic demand and stimulating the economy。Superimpose the huge popularity accumulated in the early stage、Rich experience in scene exploration and construction of bonus bet365 wallet ecology，The driving effect of bonus bet365 on consumption is more prominent。Some opinions，Issuing bonus bet365 red envelopes is similar to the “helicopter money” scheme adopted by Western countries in response to the impact of the epidemic，It seems that the government provides cash subsidies to residents to stimulate consumption。But there are actually essential differences between the two。The "helicopter money" bailout policy is based on the fiscal deficit monetization logic of modern monetary theory，In fact, expansionary monetary policy is implemented in the form of fiscal liabilities。But the bonus bet365 red envelope is essentially a kind of financial subsidy or corporate profit sharing，It will not increase the currency issuance。And，bonus bet365 red envelopes can also affect the consumer market and corporate levels，Traceability through digital renminbi，Improve consumer market monitoring and operating environment，Reduce business operating costs，Improve transaction efficiency，To achieve better policy effects。

　Third，Service technology innovation，Promote industrial upgrading。Research on the technical route selection of central bank digital currency (CBDC) by the Bank for International Settlements (BIS) and other institutions shows，Different countries、There are obvious differences in the technical architecture of different types of CBDC。As a typical retail CBDC，Comprehensive centralized and distributed architecture characteristics of the bonus bet365 system，Formation of stable and sensitive dual-mode coexistence、Hybrid technology architecture that integrates centralized and distributed development，And has been following the "long-term evolution、Continuous iteration、Technical route of dynamic upgrade。In pilot testing，bonus bet365 in wallet matrix、Scene expansion、Product Design、Security encryption and cross-border use, etc.，Showing a rich trend of technological innovation and application，Verified my country’s independent innovation capabilities in underlying technologies such as blockchain。Currently，Technological applications represented by smart contracts are accelerating，And gradually form a platform scale effect。In advance fund management、Directed payment、Fund settlement and other fields，The bonus bet365 smart contract ecological service platform will provide convenient and efficient tools for the digital transformation of enterprises，In the future, more institutions will participate in research and development and access，Thus producing obvious technological spillover effects，Promote the optimization and upgrading of relevant industrial and supply chains。In addition，In dual-tier operation mode，Designated operating agency located in the middle layer、Other commercial banks、Third-party payment institution、Clearing agency、Platform companies and technology companies, etc.，Based on the technical principles of openness and inclusiveness of bonus bet365，They can all give full play to their own technological advantages and strengthen digital technology research and development。With the popularity of bonus bet365，Smart Contract、Software system、Secure encryption、The demand for hardware terminals and other technologies will also grow further，The innovative driving role of bonus bet365 will be more fully reflected。But further clarification on bonus bet365 wallet management is needed、Scene fusion、Related technical standards in privacy protection and other aspects，Adhere to the rule of law and standardization，Promote the improvement of laws, regulations and regulatory systems related to digital renminbi。

　Fourth，Improving cross-border payments，Reduce financial risks。Existing research and practice in various countries have shown that，CBDC can promote the double improvement of cross-border payment efficiency and security。The peer-to-peer payment mechanism gives CBDC the advantage of “payment is settlement”，Can greatly improve the liquidity of financial institutions when conducting cross-border payment and settlement，And reduce the cross-border e-commerce settlement and reconciliation process，Reduce capital occupation costs while improving settlement efficiency。The digital technology of CBDC also helps to improve the supervision ability of transaction settlement，Thus reducing various settlement risks，Increase transparency in fund transfers。Currently，bonus bet365 has gradually expanded cross-border payment applications。February 2021，People's Bank of China and Bank for International Settlements (Hong Kong) Innovation Center、Central Bank of Thailand、The multilateral central bank digital currency bridge (mCBDC bridge) project jointly launched by the Central Bank of the United Arab Emirates and the Hong Kong Monetary Authority，Mainly for high costs、Pain points such as low speed and complex operability，Design and iterate a new generation of efficient cross-border payment infrastructure。November 2021，mCBDC bridge project launches cross-border trade settlement、Cross-border e-commerce、15 application scenario tests including supply chain finance，22 domestic and foreign financial institutions participated in the test，Total transaction volume exceeds 2 billion yuan。Since the existing cross-border payment system is based on the Society for Worldwide Interbank Financial Telecommunication (SWIFT)，The application of digital renminbi can reduce dependence on SWIFT，Further boost the process of RMB internationalization。Future，The application scenarios of digital renminbi in cross-border payments will continue to improve，It is of great significance to enhance the international competitiveness of the RMB and maintain the security of our country’s financial system。

Through long-term comprehensive R&D design and steady and orderly pilot practice，The operational framework of digital renminbi is not only effective in preventing related risks and potential shocks，It also has a positive effect on the implementation of policies in the economic and financial fields。Future，Promote the smooth transition of digital renminbi from pilot testing to full promotion，Still needs to be marketized、Legalization、Standardization、Further efforts in sustainability and other aspects，Focus on the construction of differentiated scenarios in different regions，Specific mechanism design to optimize the two-tier operation system，Continue to improve bonus bet365 technical standards，Thus consolidating my country’s world-leading position in the field of CBDC。

　　(This article is a phased result of the National Social Science Fund general project "Research on the Impact Mechanism of Central Bank bonus bet365 Currency on the Implementation and Transmission of Monetary Policy" (21BJL031)

(Author’s unit: National Institute of Development and Strategy, Renmin University of bonus bet365；School of Applied Economics, Renmin University of bonus bet365)