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On similar lines, sometime back, Indonesia’s central bank also announced plans to launch a digital currency to ‘fight’ private cryptocurrencies.Any recent visitor to China has probably realized that there is one tool increasingly hard to live without: WeChat, or Weixin (微信). With the use of a Virtual Proxy Network (VPN), reading The New York Times, scrolling through Twitter, or staying in touch with friends via Facebook has always been a relatively simple process for the foreign visitor or expatriate in China. But unlike WeChat, these websites have arguably never changed the way we live. Our access to information and social circles has become more convenient, perhaps, but none alone have been integrated into daily life with the extent of WeChat. The prevalence of WeChat expedites and simplifies the decisions of daily life, but does so at the cost of increased vulnerabilities for users, the parent company, Tencent, and the entire Chinese nation. The speed at which WeChat has become ubiquitous among the Chinese populace is mind-blowing. To put these numbers into perspective, the number of WeChat users out measures the population of the European Union (at 510 million), but falls shy of the 972 million people living in the Americas.Īccording to data published in the Chinese-language version of Bloomberg Businessweek, more than 900 million people use WeChat – a number which significantly surpasses the estimated 731 million total Chinese internet users.

What began as a platform for chatting not too dissimilar from WhatsApp, Line, Signal, and Facebook Messenger has since transformed into an essential – and, indeed, international – tool. WeChat is no longer just a basic chatting app, but includes all the everyday essentials in the interface of a single app.

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#Wechat china ecny wechat pay mauskharpalcnbc movie#īy linking a WeChat account to a bank card, users can order taxis, buy airfare, train, and movie tickets, book hotels, pay utility bills, transfer money to other users (even in the form of a lucky red envelope), top-up cell phone accounts, and manage personal finances.

WeChat also offers a searchable news feed-like interface, called Moments, for tracking updates of individuals and organizations, and, much like Facebook, users can also subscribe to specific accounts for updates. WeChat’s revolutionary features have literally changed how Chinese live, allowing users to leave their wallets at home. Over 600 million WeChat Pay accounts are active, with restaurants, clothing stores, street food vendors, and even homeless beggars turning to WeChat QR codes to replace cash and bank cards.

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Handheld machines once used for swiping cards now come equipped with a barcode and QR code scanner at restaurants, tables and menus increasingly feature a QR code for adding dishes, calling the wait staff, or paying the bill. #Wechat china ecny wechat pay mauskharpalcnbc code# #Wechat china ecny wechat pay mauskharpalcnbc code#.#Wechat china ecny wechat pay mauskharpalcnbc movie#.