Financial Association (Shanghai, researcher rensen) news, domestic and foreign digital currency presents a different landscape, domestic digital currency is stable, while overseas digital currency market is ushered in crazy speculation. The pilot activities of digital RMB in China are in full swing during the Spring Festival holiday, and many new functions of Beijing’s digital RMB appear. The digital RMB red envelope provides a new payment experience for the people who “celebrate the new year on site” in Beijing, attracting the winning bidder to actively try online and offline. 1) “Hard Wallet” function appeared, offline payment is convenient and efficient. In this activity, Bank of China, postal savings bank of China and other financial institutions launched a new exploration – Digital RMB video card “Hard Wallet”. 2) Two way exchange of digital RMB and cash, ATM machine can deposit and withdraw money at will. The use of digital RMB red envelope does not need to bind any bank card, even if there is no bank account, it can be paid through digital RMB, which greatly improves the universality of financial services. 3) The theme of the Winter Olympics is distinctive, and the effect of stimulating consumption is expected. The theme of the Winter Olympics is a major feature of the Beijing Digital RMB red envelope pilot activity. Digital RMB red packets can be used in the Winter Olympic franchise area of Wangfujing Gongmei building, ice paradise in central Wangfu, Tiantan sports center and a series of sports brand stores. Experts said that the digital RMB red envelope reflects the function of “smart contract”, which specifies the group, scene and time of red envelope use, so as to make consumption promotion more accurate and effective. During the festival, the effect of digital RMB on consumption can be expected. It is worth noting that since October 2020, digital RMB related tests have been accelerated, and pilot projects of digital RMB red envelope have been carried out in Shenzhen and Suzhou. At the end of December 2020, digital RMB came to Shanghai. A large state-owned bank recently opened accounts in Shanghai for some specific customers with digital RMB wallet. On January 25, 2021, at the special session of the fourth session of the 13th Shanghai Municipal Committee of the Chinese people’s Political Consultative Conference, Yang Yanqing, member of the Shanghai Municipal Committee of the Chinese people’s Political Consultative Conference and President of the first Institute of Finance and economics, suggested that the Yangtze River Delta should be taken as a whole, and a super large-scale new digital economic infrastructure should be established through the coordination of the government and the Yangtze River Delta, as well as the strength of the private and enterprises. Yang Yanqing also made suggestions on digital currency. Shanghai is the first comprehensive pilot project in China this year, she said. It is suggested that the comprehensive pilot project of digital currency should be used in the scene of urban digital transformation and smart city. First, it is to make prepaid cards, the second is to pay migrant workers, the third is to pay the sanitation volunteers, the fourth is to do cross-border, and the fifth is to use for governance. Zhang Yulong pointed out that compared with electronic payment, the digital currency of the central bank has many obvious advantages, such as low barriers, low cost and high security, which can also help to save the issuance cost of paper money, improve the payment and settlement efficiency and the central bank’s control over the supply and circulation of money. Judging from the test progress and high-level speeches, the central bank remains enthusiastic about digital currency, and it is expected that the application process of digital currency will accelerate during the 14th Five Year Plan period. Compared with the steady operation of domestic central bank digital currency, foreign digital currency has ushered in a wave of speculation. The overseas digital money market has been hyped wildly, and bitcoin has increased nearly three times in half a year. Bitcoin has continued to lead the capital market since September 2020. Since September 2020, the price of bitcoin has soared from 80000 yuan / piece to 310000 yuan / piece, with an increase of nearly 300% in six months, far higher than that of other major categories of assets. According to the latest data of assetdash, the total market value of bitcoin has surpassed Tesla by more than $890 billion, ranking the seventh in the world. The market value of bitcoin is close to Tencent. In addition to bitcoin, dog coin also ushered in a wave of speculation. Since the beginning of this year, the price of dog coin has risen from 0.467 cents at the beginning of the year to 8 cents at one time, and soared 17 times during the year. The market value of dog coin once reached 10 billion US dollars, becoming the eighth largest cryptocurrency. But under the bright surface, the duration can fluctuate violently. According to bitcoin home.com, as of 20:30 on February 15, more than 250000 people were out of positions in the whole network within 24 hours, with a total amount of 1.581 billion U.S. dollars, or about 10.122 billion yuan, which reached a high of nearly 30 days. The largest single position explosion occurred in huanbi BTC, worth US $21.25 million. The sharp rise in the number of people who broke positions in one day may be due to the violent fluctuation of bitcoin yesterday. Bitstamp platform data showed that bitcoin price broke through 49500 US dollars / piece on the 14th of US Eastern time, setting a record high again, with an increase of more than 20% in the past week. A day later, bitcoin fell below 48000 US dollars / piece, with the lowest falling to 46076 US dollars / piece. Many investors who used leverage funds to hold coins suffered heavy losses. Is bitcoin worth investing? On the one hand, the digital currency of central banks has accelerated. In early February 2021, the bank for International Settlements (BIS) released a new research report. According to the questionnaire it sent to 65 central banks around the world in the fourth quarter of 2020, 86% of the central banks indicated that they were conducting research or experiment on the digital currency of the central bank. The BIS believes that in the next three years, the central banks of one fifth of the world’s population are likely to issue a generic CBDC. Among them, India plans to pass a law to prohibit other virtual currencies, such as bitcoin, from circulating in India. At the same time, India’s parliament issued a message saying: “relevant incentive mechanism will be established to promote the Central Bank of India to launch the official digital currency.” On the other hand, there are more and more differences in the views of virtual currency such as special currency. With the sharp rise in the price of digital currencies such as bitcoin, many well-known people have expressed different views. Softbank Chairman Sun Zhengyi said bitcoin would replace gold and increase its unit price to $100000 by 2025. Fitzpatrick, an analyst at Citibank, is more aggressive, believing that the unit price of bitcoin is expected to rise to $318000 by 2021. Tesla CEO Elon Musk suddenly updated his social platform profile to “bitcoin.”. While many well-known people look at multi bitcoin, some people are extremely bearish on bitcoin. Bill Gates, the former chairman of Microsoft, and Warren Buffett, chairman of Berkshire group, both think bitcoin is worthless. “Investors have to recognize that bitcoin is likely to collapse completely,” bis President Carstens said in a speech. Marcus, co-founder of dogcoin, said that the dog’s value of 8 cents is just like the price of a game station rising to $325. There is no reason at all.