introduction

Since 2019, a new payment method, digital RMB, has begun to appear on the stage. By 2021, the digital RMB payment method has also been piloted in many places. From the current point of view, digital RMB has been connected to scenarios such as life payment and daily consumption. So what impact will the central bank's digital RMB have on Alipay? Will it become a mainstream payment method?

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Nowadays, people who travel basically don't have cash on them, because they only need to carry a mobile phone to help us complete various payments, which greatly improves the efficiency of our work and life. Therefore, the central bank is also stepping up efforts to launch a pilot project for the digital RMB. The digital RMB is not a traditional banknote, but its function is the same as that of a banknote, which is equivalent to an electronic version of a banknote.

Its function is mainly focused on payment, and the system it relies on is similar to Alipay. Therefore, this time the digital RMB also chose to cooperate with Alipay, after all, Alipay has rich experience in electronic payment. Moreover, a few years ago, when the reporter interviewed Jack Ma, he also asked him about his views on the digital RMB.

At that time, Jack Ma approved of the digital RMB, so the cooperation between Alibaba and the digital RMB today is actually a sign of early development. Many people worry that the emergence of the digital RMB will ban Alipay. In fact, this worry is unnecessary. The two are not issues of the same dimension. The digital RMB needs to rely on a system similar to Alipay. As the cooperation between the two deepens, the digital RMB may also be launched on Alipay. So why do we promote electronic currency? The governor of the central bank responded to this question. He said: The digital economy is a product of the development of the times. The digital economy can also promote global economic growth. Using electronic currency to pay can also meet people's needs more efficiently.

The reason why the digital RMB can enter Alipay this time is mainly due to the support of the powerful MyBank, which had a revenue of 8.6 billion yuan last year, a year-on-year growth of 2 billion yuan. So what choice will Jack Ma, who has been caught up in various public opinion storms some time ago, make in the face of the menacing digital RMB?

In fact, Jack Ma has always been optimistic about the development of digital RMB and is willing to cooperate with digital RMB. It seems that Alibaba's development positioning will have another one yuan in the future. At this point, some people may ask: If digital RMB becomes popular, do we still need cash?

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The answer is yes, because the original intention of the central bank to promote the digital RMB is just to use it as a supplement to cash, not as the main currency in circulation. Therefore, the digital RMB will not replace all cash, and the two will maintain a coexistence state.

Digital currency will occupy a core position in the global digital economy, so it is necessary for China to issue a virtual currency dominated by China. However, virtual currency also needs to face economic difficulties, such as lack of asset support and credit issues.

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Therefore, when China promotes the digital RMB, it first needs to establish a strong asset support, and secondly, it needs to improve the credit system. At present, the world is issuing digital payment currencies. In this era of competition and cooperation, we need to actively maintain communication with countries around the world, master advanced technology in a timely manner, and thus enhance the international development level of digital currency.

As the pace of digital currency continues to move forward, more and more people are discussing digital currency, especially the analysis of the pros and cons of digital currency, which has attracted a lot of attention. Although the digital RMB issued by the central bank has some advantages that traditional currency cannot match, it also needs to bear many unforeseen risks. Therefore, my country is currently increasing its currency pilot work in order to find better technical and experience support in these pilots.

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Another thing that needs to be paid attention to is the network security of digital currency payment. If you want to successfully issue digital currency, you need strong technical support. In terms of technology, cooperation with Alibaba is indeed a good choice. After all, Alibaba’s achievements in this regard are obvious to all and trusted.

Although the number of cities piloting digital RMB is increasing, the conditions for nationwide circulation are not met at present. However, this trend is inevitable in the future. We should maintain a positive attitude towards this new type of currency and not reject it negatively.

Conclusion

The application of digital currency will bring some new changes to my country's economic development and our living habits, such as improving social efficiency. At the same time, it can also reduce the cost of issuing paper money in my country. However, digital currency also has its own limitations, and its practicality needs to be slowly tested in practice.