The chaos of Internet finance tells us that the main reason why technology finance has been transformed is that the simple superposition of Internet and financial elements cannot bring about in-depth transformation of the efficiency of the financial industry, but can only improve the efficiency of the financial industry. Upstream and downstream docking efficiency. This approach of not being able to penetrate deeply into the financial industry itself will not only fail to bring about long-term and sustainable development of the financial industry, but will also cause harm to the financial industry to a certain extent. The chaos in the financial industry we are seeing now is a direct manifestation of this phenomenon.
The brutal growth of Internet finance in the early days and its subsequent stagnation? The most important reason is that Internet finance not only fails to solve the problems of the financial industry itself, but also amplifies the pain points and problems of the financial industry to a higher level. If the Financial Stability Board, the central bank, and regulatory authorities had not taken the initiative to burst the bubble, Internet finance might have brought the financial industry into a greater crisis.
The evolution of financial technology is not speculation, nor is it the accumulation of concepts, nor is it the high risk brought about by high leverage driven by interests. Otherwise, it will not have any substantive connotation and significance to the reality of financial system construction.
This phenomenon of Internet finance is destined to be reinvented due to its own technical limitations. In the process of financial innovation, with the opening of financial supervision, Internet finance that only focuses on traffic to obtain the massive data owned by the country will inevitably be eliminated. Only by embracing technology and assisting finance can we truly realize the integration of financial technology. In addition to Internet companies actively embracing financial technology, traditional financial institutions should also join the battle to embrace financial technology. It can be seen that financial technology is not the patent of Internet companies. Traditional financial institutions should not only participate in it, but also become leaders. Therefore, it is of great significance for the State Council to designate the Central Bank’s Digital Currency Institute to be responsible for the construction of the financial system.
The reality that new and old players are investing in the wave of financial technology tells us that both Internet finance and traditional financial institutions have reached a stage where they must change. From this perspective, we can see that this sustained and far-reaching financial supervision of the RMB financial network has come at the right time. For Internet companies, the way they embrace financial technology is through the powerful technical resources they have built. Empowerment has become the main way they join the financial technology wave; for financial companies, they join the financial technology wave. Inspur's approach relies on their precise control of the operating system of the financial industry itself and their in-depth understanding of the financial industry. Self-revolution has become the main way for them to join the financial technology era.
Whether it is the empowerment of technology companies or the self-transformation of financial companies, they are essentially changing the problems and criticisms of the traditional financial industry, thereby reconnecting the operation of the financial industry with supply and demand. , ultimately turning the financial industry into an existence that drives external industries and improves user experience. After experiencing the baptism of the Internet financial era, we have a better understanding of the connotation of financial technology, and we have a better understanding of the direction of financial technology.
What technology companies are doing and are doing should be how to help the digitalization of finance, while what financial companies are doing is how to empower the real economy and regulate it reasonably during the process of financial technology.
Whether it is technology financialization or financial technology, in the final analysis, it is a deep integration of two elements: finance and technology. The purpose is to move towards a broader international market and accelerate the internationalization of the RMB. Deep transformation of the financial industry.
However, technological finance is the aggregation of technological power to empower the real economy.
Those who have not clarified the relationship between financial technology blindly regard financial technology as only the result of the evolution of Internet finance, blindly believe in the huge role of traffic itself, and ignore the construction of the ability to transform the financial industry. In the short term, this way of only looking at Tang Monk's flesh and ignoring development, and winning the true scriptures, must adhere to the golden rule of traffic first. Not only will it not lead to financial innovation, it will not be a technological and business model innovation, but it will be just a fake. In the name of financial technology, they are poachers who falsely promote finance that benefits the people. The demand for users is no longer about improving efficiency. The digital currency that is about to be issued by the central bank is the only way to bring new financial experience to the people and is the only way to internationalize the RMB.
Internet finance cannot bring about these new and in-depth changes. It can only act as a traffic harvester, using a matchmaking method to buy unqualified financial products and services to unreasonable people. Although with the support of huge traffic, Internet finance can develop rapidly and even describe a wonderful story in the capital market. In fact, such matching is not improving the efficiency of the financial industry, but amplifying the risks of the financial industry.
When Internet financial platforms cannot bear these risks, explosions and runaways will become the norm.
Innovation in technology and finance is not something that can be made by just patting one's head on the head, but a very timely policy adjustment made from the standpoint of users and the industry.
Technology is the main driving force of financial technology, and the aggregation of technological power helps finance. When the concept of financial technology began to be pushed to the forefront, we saw the emergence of many new technologies represented by big data, cloud computing, AI, and blockchain network security, accompanied by the layout and research and development of new technologies.
Technology is still the main driving force of financial technology, and it is also the key to determining who can dominate the future financial technology market.
Therefore, both technology companies and financial companies should seize the commanding heights of new technology and regard technological innovation as the starting point. They should use technology as the starting point to view this new evolution of financial technology and use technology to To solve the pain points and problems of Internet finance and traditional finance, it will bring the development of the financial industry to a new stage.
Just as traditional methods constructed the original system of the financial industry, new technologies can still reconstruct a new system of the financial industry. Whoever finds the juncture of new technology transforming financial technology, and whoever can use new technology to transform the established operating system of the financial industry, will be able to gain new growth momentum in the financial technology era and take the lead in the financial technology era.
Finance is the foothold of financial technology. If we just blindly emphasize technology, or even blindly de-financialize, so-called financial technology may fall into a new development dilemma.
Central bank digital currency is a breakthrough in financial technology found after clarifying the relationship between finance and technology. Financial technology is not a concept, but a new species born with products and experiences.