Zhao Ji, deputy secretary-general of the Beijing Internet Law Research Association, said that the central bank's digital currency is legally compensable, and its functions and attributes are similar to existing RMB notes, except that the form is digital and a digital payment tool with value characteristics. Accounts are needed to enable value transfer. After the digital currency is issued, the circulation method is that a commercial bank opens an account with the People's Bank and pays the reserve 100% in full. Individuals and enterprises can open a digital wallet through a commercial bank or a commercial institution, which can either be a strong or weak real name system. For users, there is no need to go to a commercial bank, as long as they download and register an APP, they can use digital currency.