Guosheng Securities: closely follow the central bank's digital currency industry chain, grasp the three main lines of bank IT, identity authentication and payment services

Recently, Guosheng Securities issued a report pointing out that it is recommended to closely follow the central bank's digital currency industry chain and grasp the three main lines of "Bank IT", "Identity Authentication" and "Payment Services": 1) Bank IT. Whether it is to develop a digital currency system for central banks or commercial banks, whether to add specific fields for digital currencies or to develop user access and application systems, DCEP cannot leave the bank IT service provider; 2) identity authentication. Among the patents related to digital currency applied by the People's Bank of China, identity authentication is an indispensable link, and the related technologies are encryption technology and identity certification (CA) qualification; 3) payment services. Although DCEP adopts a "central bank-commercial bank" two-tier operation system, from the patents, "wallet service providers" other than commercial banks may also play an important role, and manufacturers with electronic payment experience or licenses are expected to be shortlisted for pilot.