For individuals, the benefits are not much.
First, electronic payments can be made without the need for third parties (including commercial banks, various corporations, and financial institutions), which is also the biggest benefit.
Second, you don't have to worry about loss, damage or theft. and the possibility of being scammed. Except for small amounts that are bearer.
Third, in the future, you don't need to bring anything including mobile wallets and bank cards when you go out, no matter where you go, even if it is abroad, as long as you have money in your personal account, you can pay.
For the state, the benefits are many.
It is possible to save the manufacturing of currency as well as the cost of money transportation. It is not necessary to issue a new currency every few decades.
At the same time, it effectively excludes counterfeit money from the root.
Money itself is meant to embody value. Reducing the value required to manufacture and maintain operating currency will result in a huge amount of savings.
It is possible to face every citizen more effectively without having to go through a third party. Reduce the possibility of funds being left empty and not reaching the grassroots level.
Better implement various policies at the grassroots level.
For example, the issuance of various security funds and subsidies. It is possible for the PBOC to face individuals directly without going through a third party or even a fourth party. The possibility of peeling layer by layer is completely eliminated.
It is more convenient to face each country without having to go through a third party. Make it more effective and faster to internationalize.
Effectively respond to various international payment systems dominated by US dollars.
Overall, the use of the digital yuan is beneficial both for individuals and for the country. Although from the present point of view, the benefits to the state are far greater than those of the individual. But if you know that when the country is strong, the people are strong, if one day you go to any country in the world and can use the digital yuan unimpeded, will you not be proud that you are Chinese?
Digital Yuan