Summary: In recent years, central banks and monetary authorities of all countries and regions in the world have to conduct research and exploration on the central bank’s digital currency. The People’s Bank of China is also actively exploring in this field. On August 20, the People’s Bank of China re-released the revised Vice President Fan Yifei and Mu Changchun, deputy director of the central bank digital currency related articles. This paper explains the conception of the central bank’s digital currency and the thinking of the chain technology on the central bank’s digital currency from the perspectives of China’s central bank’s digital currency operation system, management model, alternative targets, technology, and attitude toward smart contracts.
