Central Bank Digital Money Patent Layout: Research Institutes Lead, Large Institutions Actively Participate

Recently, the Central Bank emphasized again the need to promote the research and development of legal digital money, and the digital money sector immediately surged. Industry insiders generally believe that the Central Bank's digital currency may be launched at an accelerated pace after the pandemic, with the first pilot projects potentially taking place among large banks. This will drive the upgrading and transformation of the banking system and promote the development of related fields such as electronic bills.

It is understood that the Central Bank Digital Money Research Institute has obtained 86 related patents, of which 76 have been authorized. Since the end of 2019, the institute has announced several key patents covering the generation, issuance, circulation, and other aspects of digital money, indicating that DCEP is basically ready on the technical level.

Apart from the Central Bank, some large institutions are also actively laying out patents related to DCEP. Since February this year, Alipay has announced 5 patents involving core aspects such as digital currency issuance and transaction records. As the leading bank among the four major banks, Industrial and Commercial Bank of China continues to lead in DCEP patents, particularly with significant breakthroughs in technical challenges like dual offline payments.

Other large banks and technology companies have not publicly disclosed patents directly related to DCEP, but they have made arrangements in related technology fields such as blockchain. For example, China Construction Bank, Agricultural Bank of China, and Bank of China have all launched blockchain-based financial applications. Companies like Huawei and Changliang Technology have also stated that they are conducting research and reserves related to DCEP.

It is worth noting that blockchain technology is not a mandatory solution for DCEP. The Central Bank has repeatedly stated that DCEP does not preset a technical route and may adopt other solutions. However, the positioning of blockchain in CBDC has not been concluded, and there is still room for development in the future.

As the CBDC plans of various countries gradually advance, the competitive cooperation dynamics in the upstream and downstream of the industry chain will become more intense. As an important financial infrastructure, the choice of its technology route and the construction of the industrial ecosystem deserve continuous attention.