Research on the impact of digital currency on traditional payment services

The development of blockchain, encryption, distributed accounting and other technologies has given rise to the digitization of currency, and the popularization and application of digital currency is ready to take off. As a new payment method, how to integrate digital currency into the existing payment ecosystem and give full play to its comparative advantages, promote the expansion of payment scale, and improve payment efficiency is the core proposition of digital currency research and development. This article starts from the perspective of traditional payment methods and explores the impact of digital currency on traditional payment services. It can not only provide theoretical support for exploring the substitution of digital currency for other payment methods, but also enrich the theoretical connotation of digital currency. At the same time, it also provides theoretical guidance on how digital currency can join the existing financial symbiotic payment ecosystem and leverage its own advantages.