Pan Xiangdong, chief economist of New Era Securities, said in an interview with Securities Daily that future electronic payments will be further integrated with big data and blockchain technologies, and even the central bank may issue legal digital currency. The financial industry will bear the brunt. , facing major changes. At present, private electronic money has been greatly developed, and the central bank's legal digital currency may also be issued in the future, which will have a profound impact on economic life. Electronic money is convenient, fast and efficient. The electronic money based on blockchain technology has the advantages of distributed data storage, point-to-point transmission, consensus mechanism and encryption algorithm, which can greatly improve the efficiency of resource allocation. Pan Xiangdong further explained to reporters that the electronic money issued by the central bank can eliminate the lower limit of future negative interest rates and make monetary policy out of the “liquidity trap”. It is an important way to deal with deflation in the future and has a profound impact on macroeconomic regulation and control.