After the issuance of digital currency, the central bank, where will WeChat and Alipay go? The reliable answer is coming.

wechat and AliPay are the two most popular and frequently used mobile payment tools in China. From grocery shopping to supermarket shopping to transfer and remittance, it has already penetrated into everyone's daily life. According to the market research data released by the international data analysis agency Statista, the usage rates of WeChat and Alipay in China are as high as 76% and 87% respectively, far exceeding Baidu Pay and apple pay. As for the launch of China Unionpay Quick Pass by major banks, it is even more bleak, and its utilization rate has not even entered the top ten.

As the habit of using WeChat and Alipay has been formed, many netizens are deeply worried about the fate of WeChat and Alipay after the official launch of digital currency, the central bank. Previously exposed news and screenshots show that the test environment of digital currency, the central bank, is a dedicated digital wallet APP, not WeChat and Alipay. Does this mean that WeChat and Alipay have been marginalized?

In response to the above questions about the central bank digital currency, Dong Ximiao, the chief researcher of Zhaolian Finance (Zhaolian Consumer Finance Co., Ltd.), recently said in an interview with the media that the digital currency of the central bank is legal tender, while WeChat, Alipay and China Unionpay Quick Pass are only payment methods. In other words, digital currency, the central bank, does not conflict with WeChat and Alipay.

The author also learned that during the period from February 21st to March 17th this year, Alipay successively disclosed five technical patents related to digital currency, the central bank, represented by "digital currency trading execution methods and devices and electronic equipment", and participated in at least four functions of digital currency, the central bank.

In combination with Mu Changchun, director of the Monetary Research Institute of the Central Bank, who expressed his views at the 3rd China Financial Forty (CF4) Yichun Forum (digital currency, the central bank, will adopt a two-tier operation system: the central bank will first exchange digital currency for banks or other operating institutions, and then these institutions will exchange it for the public, and fully mobilize market forces in the whole process to achieve system optimization through competition), WeChat and Alipay are likely to become the secondary issuers of digital currency, the central bank, with the same operating authority as commercial banks.

once wechat and AliPay become secondary institutions of digital currency, the competitiveness of their own products will not be affected; Users can also enjoy the brand-new mobile payment experience brought by digital currency, the central bank with higher security and wider application scope, through their usual payment tools.

Author: Xiao Chain Finance Chaoyun