"In 2018, it will be a watershed for speculative dividends and investment dividends."
At the 3rd China Finance and Economics Summit Forum, all the big cafés have such a clear judgment on the market changes in the field of financial technology.
As a new "net red" in the financial science and technology sector, the blockchain has been driven by huge profits, which has made the new fame and fortune of investment, and some people who have "no brains" have tasted the sweetness.
However, when the bear market is coming, the end of the leek will only get deeper and deeper. Perhaps, only after being cut off by a sickle, the dream of making a fortune will stop.
Overall, the large-scale application of blockchain technology in the financial industry is lower than expected.
To this end, Gao Peiyong, deputy dean of the Chinese Academy of Social Sciences, said that the financial and scientific community needs to make better use of information technology, so that finance can become a catalyst for socially inclusive development, thereby benefiting and eliminating disadvantages.
He believes that the implementation of current macroeconomic policies depends not only on policy adjustments, but also on reform actions.
"see" new era
Since blockchain technology has entered the public eye, financial technology is the first area to match the applicable scenarios.
For what is “financial technology”, there is currently no standard definition of standards. According to Wu Xuchuan, deputy director and secretary general of the Internet Finance Research Center of the People's Bank of China Institute of Finance, the new generation of financial technology is based on blockchain and technological innovations such as big data, cloud computing and artificial intelligence. Change the ecological landscape of the financial industry.
So, what do you think of the current economic situation and stock market volatility and even the ups and downs of digital assets?
Interestingly, during the breakfast time before the speech, there were many people around the Chinese Academy of Social Sciences, Vice President Gao Peiyong asking this question.
"In my opinion, these two problems can actually be attributed to one question, that is, how to judge the current macroeconomic situation."
He believes that no matter which industry you are in, the most urgent thing to do now is “parameter”, which is to align the macroeconomic and policy environment.
“Usually, when we analyze the macroeconomic situation, we have two categories from the big side, namely, cyclical factors and aggregate factors.” Gao Peiyong said, “For the former, we are used to always when problems arise. First determine which stage of economic development. In our minds, economic development is a cyclical process of recurrence. For the latter, we are also accustomed to balancing the total supply and demand no matter what kind of contradictions and problems we face. Analyze the angle to come up with our solution."
However, this analytical concept has encountered unprecedented challenges in the face of today's new situation and new changes.
From such a process of change, "I am very deeply aware that the concept, thinking and strategy of the country's leading economic work have undergone major adjustments," Gao Peiyong said.
As far as specific changes are concerned, he believes that there are five aspects.
The first change is the change in the perspective of the analysis. The main contradiction in the current economic development is the structural problem, not the total amount. The main contradiction is on the supply side. This is a very big change, indicating that the analytical perspective on the economic situation has been transformed from cyclical factors into trending long-term factors.
The second change is the change in the concept of development. Today we are talking about pursuing higher quality, more efficient, fairer and more sustainable development. These four “more” are based on new development concepts. These four “more” are high quality development. Highly fit.
The third change is the change in the main line of policy. When discussing the supply-side structural reform today, please note that the reverse is not on the demand side but on the supply side. It is not the total demand problem, but the structural adjustment problem.
The fourth aspect of change is the policy mechanism. Today's macroeconomic policy, the main goal is reform, our macroeconomic policy is the main tone of policymakers + reform actions, and macroeconomic policies based on reform.
The fifth change is the change in the main contradictions of society. It is important to change the transition from "material cultural needs" to "good living needs", that is, the imbalance and insufficiency of the government system, or the imbalance and inadequacy of the government's supply of public service systems. It is under such conditions that the government The role is highlighted.
In addition, in addition to the "on the table" central, Gao Peiyong said that it should also pay attention to the responsibility of local governments in the development of the economy and the positions and viewpoints actually taken.
"Unicorn" meets the harsh winter
Financial technology has spawned many new types of companies, and more potential stocks are expected to be on the "unicorn" throne.
It should be said that in recent years, the process of business iterations we have seen is often the gradual collapse of the old consensus, and the new consensus seems to have not yet been born or has no effective control.
This has brought a lot of trouble to companies that are committed to using the new generation of information technology to promote the development of financial technology.
“As a financial technology investment company, we have invested in a lot of Internet finance and financial technology companies.” Zhuang Ming, vice president of Pioneer Guosheng (Beijing) Equity Investment Fund Management Co., Ltd. said, “Under the national network supervision, Pioneer Guosheng invested some The digital security project has invested in both the 'spear' and the 'shield' in investing in financial technology companies."
He said that when we are doing financial technology investment, there will be two main lines, one is the moving line and the other is the static line. Specifically, the moving line is laid out according to the time of development of the industry; the static line is laid out according to the ecology.
In the past two years, the financial sector has repeatedly been mentioned for blockchain transformation. Zhuang Ming believes that the industry has not yet seen a killer application, but it is more likely to appear in the field of rapid landing.
In his view, the blockchain is most likely to land in the financial sector. However, after the ICO supervision last year, everything was quiet.
However, the positive side is that more people have learned about blockchain technology, attracting more people and more funds to invest in blockchain technology, which will certainly promote the further development of technology.
In this regard, Xingen Capital founding partner Zeng Qiang said that under the strong supervision, the current financial "unicorn" is in a severe winter.
He believes that we are currently starting a global power-making revolution. Behind the Sino-US negotiations is the 2025 plan. The 2025 plan is to compete for the commanding heights of the future industry. Therefore, for the unicorns, the subversive technology they form is behind the national strategy.
In the view of Zhao Hongqiang, CFO of Bairongjinfu, in the next 3 to 5 years, there will be two requirements for the unicorn company in the blockchain field: first, there should be a wider application in the financial field; second, it can be Financial institutions have significantly improved efficiency and scale.
From the change of the wind direction in the blockchain field this year, it can be read that people and funds are more attracted to various public chain projects of ICO. The alliance chain is considered to be the main solution to the financial sector, and in comparison, it looks much cooler.
Break through the bottleneck of thinking
Interestingly, on the day of the forum, the time of the central bank governor Yi Gang was broken for a hundred days.
A central bank system official praised Yi Gang, saying that “the wind and the cloud will be easy to operate.” It can be seen that the actions to promote reform are not easy.
In Gao Peiyong's speech, it seems that a feasible path is given.
Gao Peiyong pointed out that in the mechanism of policy, our understanding of policies tends to associate with economic policies at a certain time, and generally it rarely touches the institutional level. However, under the background of the macroeconomic policy with the supply-side structural reform as the main line, changes have taken place.
He said that it is necessary to break through institutional and institutional obstacles and promote various basic reforms to create conditions for supply-side structural reforms.
Therefore, he stressed that in the past, simple policy-level adjustments sometimes failed or partially failed. Only when the policy adjustments are initiated and the reforms are initiated, it is possible to use the cooperation between the two to approach the goals we are trying to achieve.
Then, in terms of the application of blockchain technology in the financial industry, trading platform and supply chain management are two important application scenarios.
It should be pointed out that in these applications, the decentralized performance is not obvious, and the existing applications are more like a centralized open system. In addition, progress on the consensus mechanism algorithm is also slow.
However, looking to the future, companies have not lost confidence.
Song Chengcheng, chief technology officer of Microfinance Network, said that he continues to be optimistic about the blockchain direction and will continue to invest. According to his judgment, in the future, blockchain technology will be deeply applied to digital identity, contract deposit and supply chain finance, and use technology to empower and greatly improve efficiency.
In the forum, the guests agreed that enterprises should become "industry" by building the "ABCD" (referred to as: artificial intelligence AI, blockchain blockchain, cloud computing Cloud Computing, big data Big Data) financial technology basic service capabilities. Empowerer."
As the editor-in-chief of China Business News, Li Peiyu said in his speech on the theme of “Enjoy Technology, Smart Finance”, this year, the merger of the China Insurance Regulatory Commission, the introduction of new regulations for financial management, financial deduction of leverage, and support for one-angle A series of major events such as the listing of beasts are a prelude to the changes in the financial industry's adaptation to new technologies.
And how can financial companies achieve a dance with new technologies such as blockchain? Gao Peiyong pointed out that the key is to comprehensively adjust concepts, ideas and strategies to the new financial era.