Core Insights - The digital RMB is expanding its application scenarios, showcasing innovative products like the low-carbon card and IoT smart gas meters at the 2022 China International Fair for Trade in Services [1][2][3] - The digital RMB wallet launched by Industrial Bank marks a significant step in the bank's efforts to enhance digital currency services and broaden its operational scope [3] - The introduction of smart contract technology within the digital RMB framework is a key innovation, enabling programmable transactions and enhancing efficiency in various economic activities [4][5] Group 1: Digital RMB Innovations - The low-carbon card, a hardware wallet for digital RMB, allows users to make payments across various online and offline scenarios, enhancing convenience for consumers [1] - The IoT smart gas meter integrates a digital RMB wallet, streamlining the gas purchasing process and addressing traditional complexities [2] - Industrial Bank has introduced over ten types of digital RMB hardware wallets, including smartwatches and electronic IDs, to improve customer payment experiences [2] Group 2: Expansion and Adoption - As of May 31, digital RMB transactions reached approximately 264 million, totaling around 83 billion RMB, with 4.567 million merchants supporting digital RMB payments [3] - The digital RMB wallet by Industrial Bank aims to create more unique scenarios and business models, contributing to the broader adoption of digital currency [3] Group 3: Smart Contract Applications - Smart contracts within the digital RMB ecosystem can reduce transaction costs and enhance the business environment, with applications in government subsidies and retail marketing [4][5] - The technology allows for automated payment transactions based on agreed conditions, improving efficiency and compliance in various sectors [4][5] - Future developments will focus on building a robust ecosystem for smart contracts, involving collaboration with market institutions to establish standards and compliance mechanisms [5]