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will going digital transform the yuan’s status at home and abroad?

数字化的公民币会改动其在国表里的方位吗？

don’t count on it: the new yuan will be a lot like the old yuan

不要抱有太大期望：数字公民币和纸币很像

with a few taps on her phone, lu qingqing, a 24-year-old office worker, leapt into the monetary future. she was one of 50,000 people in shenzhen selected late last year for a trial of china’s digital currency, called ecny.?

只是轻点了几下手机，24岁的上班族卢青青就迈入了将来的钱银年代。上一年年末，数字公民币（即我国的数字钱银）在深圳试点，她正是5万名被选中的参加者之一。

she downloaded an app, received 200 yuan ($30) from the government and went shopping for books. the app’s display showed a traditional banknote. “it felt like real money,” she says.

她下载了一款使用，收到了政府发来的200元（约合30美元），然后就去买书。该使用上闪现的是一张传统钞票。她说：“这感触就像在用纸币相同。”

legally, it is as real as hard cash. all the money in an ecny app, offered by one of six commercial banks, is backed by an?equivalent?deposit at the people’s bank of china.?

从法令上来说，数字公民币和纸币相同真实有用。在数字公民币的使用程序中，六大银行供给的一切资金都是由它们在我国公民银行的等值存款作为担保的。

just as the central bank stands behind any paper yuan, so does it guarantee ecny. if, say, the commercial bank that made ms lu’s digital wallet went bust, her ecny—linked to her personal-identity number—would be transferred to a new wallet.

正如央行对任何纸币的撑持相同，它也为数字公民币供给担保。假定卢女士数字钱包所属的商业银行破产了，那么与她身份证号码有相关的数字公民币就会转移到一个新的数字钱包里。

central banks worldwide are considering issuing digital versions of notes and coins. although china will not be the first (that honour goes to the bahamas), it is the most important launching ground. it is the world’s leader in mobile payments.?

世界各国的央行都在思考发行数字版纸币和硬币。尽管我国并不是第一个发行数字钱银的国家（这份荣誉归于巴哈马），但却是一个最重要的发行地。我国是全球移动付出领域的领导者。

more than half a million people have already received ecny in trials since last year. china’s central bank is studying how to spread it abroad. niall ferguson, a historian, has called on america to wake up to the peril of letting china “mint the money of the future”.

自上一年以来已有跨越50万人试用了数字公民币。央行正在研讨如何将其推广至海外。前史学家尼尔·弗格森呼吁，美国大约清醒地知道到让我国“铸造将来钱银”的风险。

china’s digital currency was first conceived as a way to curb the big mobile-money providers. now three bold claims are being made about it: that it will dramatically enhance china’s surveillance capabilities; that it will allow the state to wield far more control over money; and that it will challenge the dollar for prominence.

我国发行数字钱银的初衷是为了遏止移动付出巨子。如今，关于数字钱银还有着三种斗胆的说法；它将显着前进监控才能；它能大大增强国家对钱银的控制权；它还将应战美元的主导方位。

within china, however, many economists are far less bullish. the design of the ecny, and the nature of china’s economic system, mean that each of these claims is unlikely to be realised soon. “the digital yuan is not magic, so we don’t expect magic from it,” says gary liu of the china financial reform institute in shanghai.

可是国内的许多经济学家并没有这么旷达。数字公民币的方案以及我国经济体系的性质意味着这些说法都不太可以很快变成实际。我国金融变革研讨院的刘胜军标明：“数字公民币不是魔法，因而咱们不盼望它能发生啥法力。”

the three more radical claims about it may not be realised, but will the ecny fulfil the original aim, of giving the central bank a foothold in the digital-payme

nts universe??

有关数字公民币的三个较为急进的说法可以不会变成实际，但它能否完成开始的意图——让央行在数字付出领域站稳脚跟？

probably, but not a giant one. after the ecny trial in shenzhen, ms lu said that she would use it for some payments, but that alipay and wechat were far more convenient because of how they tie into commercial and social-messaging networks.?

或答应以完成，但其所占比例不会太大。在深圳试点结束后，卢女士标明，她会运用数字公民币进行一些付出，但付出宝和微信仍是更便利一些，因为它们与商业及交际通讯网络紧密相连。

mr liu of the china financial reform institute expects others to?concur. he predicts that in three years the ecny will account for less than 5% of mobile payments.

我国金融变革研讨院的刘胜军认为，其别人也会有这种主意。他猜测，将来三年，数字公民币在移动付出领域所占比例不会跨越5%。

western governments and central bankers mulling digital currencies of their own may wonder if the outcome of the ecny experiment will contain any lessons for them.?

正在思考发行数字钱银的西方各国政府官员及央行官员可以会想，数字公民币试点的成果能否给他们供给一些经历。

but china is unusual in so many ways—from its sheltered financial system and?intricate?capital controls to the size of its mobile payments—that its experience could well prove to be unique.?

但我国在许多方面都是异乎寻常的（包括受维护的金融体系、错综凌乱的本钱控制以及移动付出的规划等），因而它的经历或许很难学习。

and other countries are sure to implement different designs for their digital currencies. still, china’s caution with the ecny, if nothing else, hints at how disruptive the technology, if unconstrained, could be.?

其他国家必定会以不一样的方法来方案自个的数字钱银。尽管如此，我国对数字公民币的稳重情绪至少标明，假定不加以捆绑，数字钱银将会具有多么大的推翻性。

(黑色标示词为重难点词汇)?

这篇文章翻译：vinnie

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