Offline payment and digital currency

1. Alipay and so on are only electronic payment methods. The money used in the transaction is coming through bank accounts, that is, the money in Alipay actually corresponds to a banknote, and the digital money is money. In the actual use experience, digital money and electronic payment may feel similar, but they are still quite different in essence
digital currency is also different from virtual currency. For example, the well-known Q coin and the money recharged in various games are virtual currency. These virtual currencies can only be purchased with real currency, but cannot be converted into real currency
in the world, bitcoin is probably the most famous digital currency. In addition, there are "Wright coin", "Dog Coin" and "Yuan Bao coin" in China.

2.

1、 Different definitions:

1. Electronic currency:

refers to the currency paid by electronic means

2. Digital currency:

is a virtual currency based on node network and digital encryption algorithm

Electronic currency: Based on computer technology, it can be widely used in the fields of proction, exchange, distribution and consumption. It has many functions such as financial savings, credit and non cash settlement

2. Digital currency:

e to some open algorithms, digital currency has no issuers, so no one or institution can control its issuance; Because the number of algorithm solutions is fixed, the total amount of digital currency is fixed, which fundamentally eliminates the possibility of inflation caused by the overuse of virtual currency; Because the transaction process needs the approval of each node in the network, the transaction process of digital currency is safe enough

Third, the same point:

the circulation mode of e-money and digital money is two-way circulation

extended data

e-money is the virtualization of the value scale of real money and the function of payment means. It is a kind of money without monetary entity. Electronic currency is an invisible currency based on highly developed electronic technology

the value of e-money is transferred from the consumer to the seller through the sales terminal, and then the seller redeems the money. The e-money held by the merchant is sent to the e-money issuer to redeem the money, or to the bank. The bank debits the corresponding amount on its account, and then the bank settles with the issuer through the clearing institution

electronic money can transfer money value directly among the holders. It does not require the intervention of third parties, such as banks. This is also the essential difference between electronic money and traditional cash card and transfer card. p>

3.

1. Application of different

digital currency: fast, economic and safe payment and settlement; Bill finance and supply chain finance; The real right of collateral is digitalized

e-money: the seller sends the buyer's payment instructions to the seller's acquiring bank through the payment gateway; The acquiring bank obtains the authorization from the issuing bank through the bank card network, and sends the authorization information back to the seller through the payment gateway; After obtaining the authorization, the Seller shall send the buyer the shopping completion information. If payment acquisition and payment authorization cannot be completed at the same time, the seller should send payment acquisition request to the acquiring bank through the payment gateway, and transfer the transaction funds from the buyer to the seller's account. The final inter-bank settlement is completed by the payment system between banks

2. Different characteristics

digital currency is characterized by low transaction cost, fast transaction speed and high anonymity

e-currency is characterized by anonymity, saving transaction cost, saving transmission cost, small holding risk, flexible and convenient payment, anti-counterfeiting and anti repetition, and non traceability

Digital currency can be divided into three categories: completely closed, unrelated to the real economy and only used in specific virtual communities, such as world of warcraft gold; It can be purchased in real currency but not converted back to real currency, and can be used to purchase virtual goods and services, such as Facebook credit; It can exchange and redeem with real currency according to a certain ratio. It can purchase both virtual goods and services and real goods and services, such as bitcoin

e-money: e-cash based on the Internet environment and keeping the binary data representing the value of money in the hard disk of the computer terminal; An electronic wallet that keeps the value of money in an IC card and can be circulated out of the bank payment system

4. The two are different. Alipay WeChat is the third party payment institution that transfers funds through banks. The RMB is not stored in the mobile phone, nor can it realize offline payment in the true sense. Digital RMB is to digitize the real RMB, store it in the mobile phone, and pay offline like cash; In the final analysis, digital money is money, Alipay and WeChat are a way of payment. Alipay WeChat will not be replaced, but the function of electronic payment will be weakened.
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5.

digital currency compares with Alipay: digital currency is equivalent to RMB with legal compensation. Digital currency is more perfect and convenient01 and the central bank say there is no competition between digital money and Alipay. p> On October 12, digital currency was tried in a district of Shenzhen. It is precisely because of this that digital currency officially came into people's sight. Digital currency has appeared before, but it is not digital RMB, but in other ways

many people speculate whether the arrival of digital money will have an impact on WeChat and Alipay payment. Mu Changchun, director of the digital Monetary Research Institute of the Chinese people's Bank of China, on 25 June, said that there was no competition between digital money and Alipay 10.

but if the transaction amount is relatively large, it needs identity verification , and it is more secure, for every money, the central bank can find out where it is going, know who the other party is , and put an end to some unidentified transactions and some scams