However, at present, the Tokyo Olympic Games is being held, so most people's attention is focused on the events and athletes.

However, after being reported by the relevant media on July 28th, "WeChat Online Loan" gained a high popularity for a short time, and then gradually became silent.

What about this WeChat loan?

Wechat IOU is a function of the "Tencent E-sign" applet, which means that you can open the WeChat IOU by searching for the applet "Tencent E-sign" in WeChat.

It is reported that users open the "Tencent e-sign" applet on WeChat, select the debit function, and enter the identity information, amount, loan reason, interest rate, repayment time, repayment method and other information of both borrowers in turn. Tencent e-sign will generate an electronic receipt with legal effect for both parties to sign.

At the same time, blockchain technology ensures that the content of the loan is safe and cannot be tampered with, and it can also be used as effective electronic evidence in case of dispute.

After the expiration, the platform will automatically send a text message to remind the borrower to avoid the embarrassing situation of "unable to open the mouth" to urge repayment.

In addition, the template information can be directly applied to the "small IOU" without editing the content.

The issuance of IOUs can be initiated by the borrower or the lender. No matter which party initiated it, just fill in the information agreed by both parties, such as loan amount, reason, term, interest rate and repayment method, and then send the IOU to the other party for confirmation.

It should be noted that the information of both borrowers and borrowers was originally filled in by the issuing bank. Although the system will also verify the authenticity, it may encounter some trouble in actual use because it needs to know the ID number of the other party in advance.

Other information can be filled in according to the actual situation. The applet imposes some restrictions on the age, loan amount, loan term and agreed interest rate of both borrowers and borrowers. For example, both borrowers and borrowers must be between 22 and 60 years old, the loan amount should not exceed 6,543.8+10,000 yuan, the repayment period should not exceed 2 years, and the agreed annual interest rate should not exceed 654.38+ 02%. In a word, these are all designed according to the relevant provisions of the Civil Code.

After the information is filled in, it is electronic signature and face recognition. The signing process is similar to our usual business in the bank business hall. Just write your name directly on the screen, and then the system will automatically verify your face. After verification, it can be sent to the other party for confirmation and signature.

The operation of the other party after receiving the loan note is very similar to the above, except that it is no longer necessary to fill in the loan information.

And wechat will verify the identity of the other party through face recognition. If the certificate does not match the face, the signing operation cannot be completed.

Finally, after the signature is completed normally, a "signed" seal will be generated above the small program loan of both parties. At this point, the whole IOU really has legal effect!

The created IOUs will be deposited online through the regional chain technology, which conforms to the relevant provisions in the Civil Code and the Electronic Signature Law and has full legal effect. Lenders and borrowers can cancel the IOUs at any time according to the actual situation.

Similarly, for the sake of safety, the cancellation operation will also require the signatures of both parties, and the operation process is similar to the above.

Write it at the end

Overall, the experience of using WeChat IOUs is good. Traditional IOUs must be signed in person, which is actually very troublesome, while WeChat IOUs ensure the security of IOUs through electronic deposit and regional chain technology, which is still very convenient.

Most importantly, it solves a legal problem that both borrowers and borrowers have a headache, paving the way for personal lending.

However, it is easy for the issuing bank to fill in the personal information of both parties, which leads to privacy leakage. At present, there is still room for optimization.

The best way is to add it automatically when the other party signs it. Of course, it also depends on how Tencent can improve in the later period!