What is the difference between digital money payment and WeChat

Digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy

digital currency is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of a specific virtual community. The European Banking authority defines the virtual currency as the digital representation of value, not issued by the central bank or the authorities, nor linked to legal tender. But because it is accepted by the public, it can be used as a means of payment, and can also be transferred, stored or traded in electronic form.

Alipay (China) Network Technology Co., Ltd. is the third party payment platform in China. Committed to providing "simple, safe and fast" payment solutions. Since its establishment in 2004, Alipay has always regarded "trust" as the core of procts and services. It has two independent brands: "Alipay" and "Alipay wallet". Since the second quarter of 2014, it has become the largest mobile payment manufacturer in the world

Digital RMB (DC / EP) "ready", how will the future payment field usher in changes

in addition, for the areas that the central bank's digital currency can do but the third-party payment can not cover, Wang Zhicheng said that digital currency may have a great connection with the convergence of digital assets in the future, which means that shopping and selling use the same media, and things with similar media will have a better matching degree, which is easy to be accepted by everyone, "In the future, for example, for any financial procts and transactions between virtual assets, the matching degree and convenience of using the central bank's digital currency will be much higher than the current third-party payment."

now, the central bank has also issued RMB and digital currency. What is the difference between the digital Renminbi and our daily WeChat Alipay payment? p> First, the essence of the concept is different

the digital currency issued by the central bank is legal tender, compensable and real money. If someone refuses to accept digital RMB, it is an illegal act and can directly report to the police. WeChat and Alipay, which we use everyday, are data. They do not represent money. They are just a transfer station between banks and users. They only represent a way of payment. In other words, digital money is money, which can be directly consumed. Alipay and WeChat will no longer have the function of paying for consumption without money. p>

"when private payment organizations such as WeChat and Alipay expand their scale, they will have some impact on user privacy protection and fair market competition. DC / EP can help mitigate these impacts. " Zou Chuanwei, chief economist of Wanxiang blockchain and Platon, told the white paper

in the coming revolution, are the three party payment systems such as Alipay and WeChat payment safe? P>

Mu Changchun, director of the digital Monetary Research Institute of the Chinese people's Bank of China, WeChat and Alipay are financial infrastructure, usually wallets. In the era of electronic payment, the contents of wallets are actually deposit currencies of commercial banks. In the era of digital renminbi, the digital renminbi was added to WeChat and Alipay's wallets. People can still use WeChat and Alipay to pay, but payment tools include not only the banknote deposit money, but also the digital RMB option. p>

in addition, given the current concerns that some elderly people will not use digital RMB, Mu Changchun said that digital RMB will provide inclusive services for all