Jurong Rural Commercial Bank has always regarded the digital currency business as an important starting point for seizing settlement channels, laying out financial scenarios and deepening government-bank cooperation, vigorously promoting the construction of the "335" project, and focusing on enriching consumption application scenarios through basic capacity building, pilot incremental expansion and scene initiation, etc., doing a good job in "digital currency connection business", building a new ecology of digital currency services, and promoting the initial results of digital currency business.
Zhu Quan, Secretary of the Party Committee and Chairman of Jiangsu Jurong Rural Commercial Bank.
* The Financial Work Conference elevates digital finance to a new level of national strategic deployment. The report of the Party Congress of Jiangsu Rural Credit Union also clearly pointed out that it is necessary to promote the construction of open banking with "GBC + finance" as the core. As an important financial infrastructure in the era of digital economy, digital yuan has inherent advantages for the construction of an open financial service system due to its disintermediation, traceability, security and other characteristics.
Jurong Rural Commercial Bank has always regarded the digital currency business as an important starting point for seizing settlement channels, laying out financial scenarios and deepening government-bank cooperation, vigorously promoting the construction of the "335" project, and focusing on enriching consumption application scenarios through basic capacity building, pilot incremental expansion and scene initiation, etc., doing a good job in "digital currency connection business", building a new ecology of digital currency services, and promoting the initial results of digital currency business. By the end of 2023, a total of 4,432 public wallets have been opened, 56,496 personal wallets have been opened, 1,756 digital currency acquirers have been developed, and 8,367 digital currency issuances have been issued, with an amount of 59.91 million yuan; 266 digital currency loans were issued, with an amount of 701130,000 yuan; A digital currency transaction occurs2420,000 transactions, amount 64.1 billion yuan.
The main three major scenes are integrated into daily life.
The first is the canteen consumption scene. People take food as the sky, and "eating" is a high-frequency application. Jurong Rural Commercial Bank has established 14 smart canteen scenarios, covering **, schools, enterprises and other formats, with more than 10,000 normal users. The canteen account is issued in the form of a traditional virtual account, which is inconvenient in the management of settlement, payment and reconciliation. Through the digital currency smart contract function, the meal fee of the employee canteen is directly distributed in the personal wallet of the digital currency, and the payment counterparty is limited through the smart contract function, and it is transferred to the canteen (or designated cooperative merchants) after the actual consumption is completed. If employees have any doubts about consumption, they can be refunded after confirmation by the merchant, which fully guarantees the safety of funds and the use of meal funds, and also reduces the problem of secondary reconciliation and settlement.
The second is the employee welfare scene. Jurong Rural Commercial Bank has built 25 enterprises in the employee welfare scene, with 6,519 registered users. Due to the large number of settlement merchants, the real-time settlement model faces the problems of the use and verification of employee welfare vouchers and the secondary settlement and reimbursement of merchants, and the promotion progress has been relatively slow. Through the digital currency smart contract, employees will automatically trigger relevant payment transactions according to the agreed rules when they come to the store to consume, reducing the workload of finance-related work in the later stage and ensuring that the use of welfare expenses meets relevant requirements.
The third is the single-purpose prepaid scenario. At present, the prepaid business of various merchants in the market generally has problems such as "merchants running away with money", "difficulty in customer refund" and "difficulty in department supervision". For example, the construction of a regulatory platform for different industries is relatively high, and the development cost and promotion cost are relatively high. Digital currency smart contract prepayment management can effectively solve this problem. When the consumer completes a consumption, the merchant initiates a smart contract to check whether the agreed execution conditions are met, and if the conditions are met, the prepaid funds will be transferred to the merchant.
Improve the three major applications and open up the main vein of settlement.
The first is the application of ERP digital currency in pharmacies. At the beginning of the digital currency business pilot, Jurong Rural Commercial Bank combined with the comprehensive strategic cooperation with the Jurong Medical Insurance Bureau to open digital currency wallets for all 113 pharmacies (accounting for 60% of the city) in the current ERP business cooperation, and realized that the settlement of medical insurance funds in pharmacies is in digital currency. At present, Jurong Rural Commercial Bank is opening up the digital currency payment system and the ERP system of pharmacies, flexibly configuring a variety of payment methods to meet the needs of different customers, and improving the efficiency of pharmacies' operation and management and customer experience. At the same time, the traceability mechanism of digital currency is used to facilitate the financial management and audit supervision of pharmacies through the integrity and immutability of transaction records.
The second is the application of digital currency in Yinyitong. Combined with the requirements of the "Jurong Health Industry Pilot Work Plan", we are actively promoting the application of digital currency in the medical industry, and are currently carrying out the digital currency transformation of the city's traditional Chinese medicine hospitals, maternal and child health care hospitals, as well as township community health centers, to support the payment of medical expenses of relevant units and support the use of digital currency. To speed up the opening of digital currency accounts of medical institutions, 20 public wallets of medical institutions have been opened (accounting for 91% of the city), and 6 households have signed contracts to issue them; 1,571 personal wallets for employees in the medical industry were opened.
The third is the application of MIS digital currency in supermarkets. The payment ecology of third-party payments such as local WeChat and Alipay in Jurong is relatively complete, and the coverage of digital currency payment scenarios is not high. Jurong Rural Commercial Bank will rely on the advantages of low threshold and "zero handling fee" for digital currency cashiers to provide long-term cooperative supermarket MIS merchants with an integrated cashier settlement service model including digital currency, realize the superposition of digital currency acceptance function in the merchant cash register system, effectively improve the coverage rate of county and township digital currency scenarios, and optimize the rural payment ecosystem.
Implement the five demonstrations and form a joint force between the bank and the government.
The first is a digital currency demonstration township. Combined with the requirements of the Jiangsu Provincial Department of Culture and Tourism's "Work Plan on Promoting the Pilot Work Plan of Digital Currency in the Field of Culture and Tourism in Jiangsu Province", we will promote the improvement of the application level of digital currency in the field of culture and tourism, and build Maoshan Scenic Area into a digital currency demonstration town. Relying on the characteristic bank outlets of the "Red Bank", we give full play to the "Red Merchant Alliance" and many retail customer resources, and provide many digital currency application scenarios for residents and merchants in the scenic area, such as salary payment, tuition payment, medical treatment for residents, and daily consumption. At the same time, we will coordinate the conversion, expansion and promotion of digital currency customers, and take preferential measures to encourage residents in demonstration towns to use digital currency to enhance transaction activity.
The second is the digital currency demonstration street. Establish a strategic cooperative relationship with Chongming Street, which is lined with individual industrial and commercial households in the urban area, and accelerate the construction of digital currency demonstration streets. Increase the promotion of digital currency application scenarios and the development of operation models in characteristic commercial streets, and realize the wide coverage of digital currency collection and payment functions through commercial characteristic service scenarios such as farmers' markets, stores, fruit and vegetable sales, pharmacies, and snack bars. Integrate street and community resources, take advantage of the friendliness of hard wallets to specific groups such as the elderly and children, and vigorously promote financial service products based on card-based hard wallets, so that customers only need to hold a hard wallet to complete daily life consumption, creating a new digital currency daily life application model.
The third is the digital currency demonstration business district. As the largest local business district in Jurong, Wuyue Plaza brings together a variety of commercial formats and has high brand awareness and market influence. Strengthen the marketing and penetration of Wuyue business district, carry out various forms of digital currency promotion activities with different characteristics, encourage customers to use digital currency through preferential measures, enhance transaction activity, continue to improve the coverage of digital currency in the commercial field, and drive the frequency of digital currency use among the public.
Fourth, the digital currency demonstration vegetable field. With the Country Garden Farmers' Market as the carrier, the long-term on-site station will guide residents and merchants to use digital currency. In view of the frequent payment and settlement activities of farmers' markets and the characteristics of small-amount high-frequency transactions, two kinds of "traditional + digital currency" collection code cards are customized for market merchants, which broadens the omni-channel payment ability for consumers and effectively promotes the implementation of digital currency scenarios for vegetable market merchants.
Fifth, digital currency demonstration outlets. It is planned to build the Huasheng sub-branch in the urban area into the first digital currency characteristic bank branch in Jurong, realize the combination of China's monetary history and digital currency development history, the combination of business promotion and product experience, the combination of demonstration outlets and demonstration streets, set up digital currency display areas and experience areas on the spot, and divide different display areas according to government affairs, transportation, cultural tourism, public welfare and other scenarios, so as to effectively display and publicize the future development of digital currency to the majority of residents.