Bitcoin: Price trend to be determined Will blockchain technology make Alipay unemployed?

During the Asian session on Friday (July 22 ) , the price of Bitcoin continued to fluctuate as it did yesterday. Some analysts believe that the properties of Bitcoin's core technology, blockchain, will pose a threat to Alipay.

According to the latest quotes , Bitcoin / RMB fluctuated around 4455 in the Asian session of this trading day . Bitcoin / US dollar (XBT/USD) continued to fluctuate around 664 in the Asian session of this trading day . Bitcoin / Euro (XBT/EUR) fluctuated around 604 in the Asian session of this trading day .

As mentioned earlier, after the halving mechanism was triggered, the price of Bitcoin did not rise unilaterally recently. This situation is still continuing, and it has been in a state of volatile trading recently. Investors are still waiting for the signal of a unilateral market.

Blockchain makes Alipay unemployed

Some analysts believe that blockchain will make Alipay unemployed. Blockchain has a disruptive effect on the payment industry. With blockchain, cash flow between people goes directly through banks without going through a third party. If all banks use blockchain, Alipay and WeChat Pay will be useless. For example, people who own Bitcoin can send Bitcoin to anyone in the world without going through a payment company, and Bitcoin is built on the basis of blockchain.

Some people have claimed that they will continue to invest 30-40 million US dollars in the research and development of blockchain applications in the next two years. On the one hand, it is to save third-party payment, reduce borrowing costs and increase returns ; on the other hand, it is to facilitate the two parties to the contract to sign the contract directly on the public chain, effectively preventing false contracts and repeated fraud.