On July 17, the US House of Representatives launched a review of Libra (Libra Coin) titled "Reviewing Facebook's Digital Currency and Its Impact on Consumers, Investors, and At the hearing of the Impact of the US Financial System, Markus, the head of Facebook's blockchain project, defaults that Libra and WeChat, Alipay will be a competitive relationship, and also a payment tool.
In this regard, there is a view that Libra, backed by the global Internet giant Facebook, will form a crushing attack on domestic Internet payment products such as WeChat and Alipay.
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- Why can Libra fight against Alipay and WeChat?
Internet companies have a natural advantage in doing digital currency
“Many people are very surprised that Facebook is launching Libra,” said Hu Zhen, chief scientist of Star Joint Venture. In the general impression, it is more like a blockchain company at home and abroad that promotes the encryption of digital currency. The top ten Internet giants.
But in fact, Internet giants with more industry resources and traffic resources are clearly more advantageous than most blockchain companies, and new technologies for encrypting digital currencies and blockchain are constantly being tracked and researched. Hu Zhen believes that there may be three parties in the future to participate in the entire blockchain industry ecology. The first party is the traditional blockchain company; the second party is the blockchain sector among the Internet giants; the third party forces are countries. Central banks and traditional financial institutions.
"In the morning and evening, there will be an Internet giant that will release the most influential encrypted digital currency project," Hu Zhen said. "Just as Facebook is the leader, I believe behind Google, Ali, Tencent, Baidu, JD, and at home and abroad. Other Internet companies will follow suit accordingly."
WeChat, Alipay lacks accounting function
Previously, on the occasion of the announcement of Libra, Tencent’s founder and chairman of the board, Ma Huateng, commented on the WeChat circle of friends that “the technology is mature and not difficult. Just look at whether the regulation is allowed”, the CEO of the shareholder is also the same. It is believed that technology is not the most important issue in this industry. "Tencent's Q-coin and WeChat payment are not formed in two days. This scale is also the result of long-term accumulation of experience. In terms of supervision, the technical aspect is always able to find a way to do it. of."
However, Hu Zhen believes that Libra's competition with products such as WeChat and Alipay is not only a competition at the functional level. "Compared with WeChat payment or Q coins and Facebook's Libra, Libra wants to do more than just a payment platform. More want to achieve the clearing and settlement function as a unit of account. This is lack of WeChat payment and Alipay, after all, our existing mobile payment also depends on the underlying clearing system of the legal currency."
At the same time, Hu Zhen suggested that for the digital currency such as Libra, the three basic functions of traditional currency, namely, payment means, accounting unit and stored value means, can hardly be realized at the same time. In the future, the digital currency with these three functions may still be complete. The legal digital currency issued by the central bank, "But what Facebook actually wants to do is to open all the payment methods such as Q coins and WeChat payment and Alipay."
Domestic Internet companies may come back later
At present, Libra, which Facebook intends to launch, not only has taken a big step in the global digital currency field, but has also become a leader in the global Internet industry, which has caused some domestic practitioners' competitive anxiety. But at the same time, there are many Internet and blockchain industry people who believe that China does not have to worry too much and will definitely have the opportunity to come up later on this track. “In terms of mobile payment, although Alipay and WeChat payment started a few years later than PayPal (the originator of third-party payment field), PayPal is a spike level in terms of business innovation and user experience,” Hu Zhen said. “Even this time. Libra took the first step, and the first one to run was not necessarily the last laugh."
“But at the same time, there is a sense of urgency for our peers. Although Libra claims to be a global project, it is obvious that Libra is exclusive to Chinese companies. If Chinese companies join, they are worried that Chinese companies will occupy Libra. The last voice of the network," said the person.
Source link: http://finance.sina.com.cn/roll/2019-07-23/doc-ihytcerm5559896.shtml