The decentralized influence of Internet Finance
Publish: 2021-03-22 09:46:45
1. Recently, the popularity of "blockchain" has been rising. Maybe everyone thinks that the craziness of bitcoin will fall into the blockchain. It's a bit like in the first year of VR, entrepreneurs flocked to it. To some extent, it may be related to the famous saying of that book: pigs can fly even standing on the air! But Xiaomi, the "pig", is a very fine proct
this paper mainly interprets an entrepreneur's transitional interpretation and amplification of the word "decentralization"
entrepreneurs or some people obsessed with Entrepreneurship often say that our procts are "decentralized" when they talk about procts in public
people are blind to things and the so-called unconsciousness, so what is "decentralization"? To understand "decentralization", we must first know what is "centralization"
1. The Internet is a new form of information transmission. Centralization is the centralized release of information, and participants often have no right to speak. The right to speak here is the right to speak at the level of guiding public opinion
2. Decentralization means that participants can have the right to speak, make voice and freely spread information
how is centralization formed
the lack of information resources leads to centralization. To some extent, the Internet user group is also the reason for the formation of centralization
how is decentralization formed
because the standardization of information resources leads to centralization, to a certain extent, the rise of Internet user groups has the conditions to build decentralization, and users' demand for information is expanding.
this paper mainly interprets an entrepreneur's transitional interpretation and amplification of the word "decentralization"
entrepreneurs or some people obsessed with Entrepreneurship often say that our procts are "decentralized" when they talk about procts in public
people are blind to things and the so-called unconsciousness, so what is "decentralization"? To understand "decentralization", we must first know what is "centralization"
1. The Internet is a new form of information transmission. Centralization is the centralized release of information, and participants often have no right to speak. The right to speak here is the right to speak at the level of guiding public opinion
2. Decentralization means that participants can have the right to speak, make voice and freely spread information
how is centralization formed
the lack of information resources leads to centralization. To some extent, the Internet user group is also the reason for the formation of centralization
how is decentralization formed
because the standardization of information resources leads to centralization, to a certain extent, the rise of Internet user groups has the conditions to build decentralization, and users' demand for information is expanding.
2. From the perspective of Internet development, decentralization is the form of social relationship and content generation formed in the process of Internet development, and is a new network content proction process relative to "centralization"
with the diversification of network service forms, the decentralized network model becomes more and more clear and possible. After the rise of Web2.0, the services provided by Wikipedia, Flickr, blogger and other network service providers are decentralized. Any participant can submit content, and Internet users can create or contribute content together
decentralization is a phenomenon or structure, which can only appear or exist in a system with many nodes or in a group with many indivials-- Cloud financial services for you
with the diversification of network service forms, the decentralized network model becomes more and more clear and possible. After the rise of Web2.0, the services provided by Wikipedia, Flickr, blogger and other network service providers are decentralized. Any participant can submit content, and Internet users can create or contribute content together
decentralization is a phenomenon or structure, which can only appear or exist in a system with many nodes or in a group with many indivials-- Cloud financial services for you
3. With the rapid development and popularization of network information technology, social life has graally entered the Internet era. People's lifestyle and consumption patterns are increasingly networked, forming a huge demand for online financial services
in the past decades, banks have been actively applying information technology to improve their service capabilities. In the 21st century, the popularity of the Internet has accelerated the pace of bank information technology application. Major domestic commercial banks have invested a lot of human and material resources in it system development, informatization and data construction, which has promoted the continuous improvement of business efficiency and service level
at present, our personal online banking customers have exceeded 160 million, mobile banking customers have exceeded 100 million, and the business volume handled through e-banking channels has exceeded 79% of the total business volume, which is equivalent to replacing more than 30000 physical outlets. Most of ICBC's wealth management and fund procts are sold through Internet channels, and the proportion of foreign exchange, precious metals and other transactions is as high as 99%. ICBC has also launched online pledge loans for indivial customers, online loan link, easy access, electronic supply chain financing and other procts for enterprise customers. Customers can apply for, issue and repay loans through online banking, and fully enjoy the results of Internet technology application
the continuous growth of online financial service demand also provides Internet enterprises with opportunities to expand financial business. The Internet financial model of e-commerce institutions, represented by third-party payment, online lending and online finance, has emerged and developed rapidly. At present, more than 200 domestic enterprises have obtained the third-party payment business license issued by the central bank. They use the network transaction environment to build a payment platform for indivial customers and small and medium-sized merchants
online lending, represented by P2P mode, has established direct trading channels for small and Micro customers through Internet platform. Now there are about 350 active online lending platforms, and the transaction scale of the whole instry is expected to reach 100 billion yuan this year. Recently, yu'ebao, which is very popular, is the representative of network financial management. They provide financial management channels for the deposit funds in customers' network accounts. With the platform operation and good customer experience, the financial services of Internet enterprises have quickly won a large number of customers
from the practice of financial service innovation of commercial banks and Internet enterprises, the evolution process of Internet finance is essentially the integration process of Internet technology and financial services. On the one hand, Internet financial services have not been separated from the financial functions of deposit, loan, remittance, investment and financing, and have not changed the nature of finance. On the other hand, Internet finance has significantly improved the efficiency of financial services, broadened the channels of financial services, and enriched the modes of financial services
with the help of Internet technology, Internet enterprises are involved in the payment, financing and financial management fields of traditional commercial banks, realizing the innovation of financial service mode. Commercial banks create a good online financial environment for customers through Internet technology, provide various basic services such as customer identity authentication and capital clearing for Internet enterprises to intervene in financial business, promote the prosperity of e-commerce and third-party payment, and support the growth of third-party payment enterprises. Commercial banks are also learning from the business model of Internet enterprises, constantly adjusting the channel positioning of their own e-banking, actively carrying out proct and service innovation, and realizing their sustainable transformation and development.
in the past decades, banks have been actively applying information technology to improve their service capabilities. In the 21st century, the popularity of the Internet has accelerated the pace of bank information technology application. Major domestic commercial banks have invested a lot of human and material resources in it system development, informatization and data construction, which has promoted the continuous improvement of business efficiency and service level
at present, our personal online banking customers have exceeded 160 million, mobile banking customers have exceeded 100 million, and the business volume handled through e-banking channels has exceeded 79% of the total business volume, which is equivalent to replacing more than 30000 physical outlets. Most of ICBC's wealth management and fund procts are sold through Internet channels, and the proportion of foreign exchange, precious metals and other transactions is as high as 99%. ICBC has also launched online pledge loans for indivial customers, online loan link, easy access, electronic supply chain financing and other procts for enterprise customers. Customers can apply for, issue and repay loans through online banking, and fully enjoy the results of Internet technology application
the continuous growth of online financial service demand also provides Internet enterprises with opportunities to expand financial business. The Internet financial model of e-commerce institutions, represented by third-party payment, online lending and online finance, has emerged and developed rapidly. At present, more than 200 domestic enterprises have obtained the third-party payment business license issued by the central bank. They use the network transaction environment to build a payment platform for indivial customers and small and medium-sized merchants
online lending, represented by P2P mode, has established direct trading channels for small and Micro customers through Internet platform. Now there are about 350 active online lending platforms, and the transaction scale of the whole instry is expected to reach 100 billion yuan this year. Recently, yu'ebao, which is very popular, is the representative of network financial management. They provide financial management channels for the deposit funds in customers' network accounts. With the platform operation and good customer experience, the financial services of Internet enterprises have quickly won a large number of customers
from the practice of financial service innovation of commercial banks and Internet enterprises, the evolution process of Internet finance is essentially the integration process of Internet technology and financial services. On the one hand, Internet financial services have not been separated from the financial functions of deposit, loan, remittance, investment and financing, and have not changed the nature of finance. On the other hand, Internet finance has significantly improved the efficiency of financial services, broadened the channels of financial services, and enriched the modes of financial services
with the help of Internet technology, Internet enterprises are involved in the payment, financing and financial management fields of traditional commercial banks, realizing the innovation of financial service mode. Commercial banks create a good online financial environment for customers through Internet technology, provide various basic services such as customer identity authentication and capital clearing for Internet enterprises to intervene in financial business, promote the prosperity of e-commerce and third-party payment, and support the growth of third-party payment enterprises. Commercial banks are also learning from the business model of Internet enterprises, constantly adjusting the channel positioning of their own e-banking, actively carrying out proct and service innovation, and realizing their sustainable transformation and development.
4. The so-called Internet platform is to develop and utilize the information resources of the Internet. I personally understand that the instry should be concentrated together and one key solution should be taken to save the middle cumbersome steps. The 16 year Internet plus summit, which is the latest Internet plus summit held in Beijing in 16, will be held in the 16 month of. This will further promote the development of Internet +. To promote the integration of "Internet plus" with government, people's livelihood and all walks of life, we can learn about this area.
5. The development process of Internet finance is the integration process of Internet technology and financial services
with the rapid development and popularization of network information technology, social life has graally entered the Internet era. People's lifestyle and consumption patterns are increasingly networked, forming a huge demand for online financial services
in the past decades, banks have been actively applying information technology to improve their service capabilities. In the 21st century, the popularity of the Internet has accelerated the pace of bank information technology application. Major domestic commercial banks have invested a lot of human and material resources in it system development, informatization and data construction, which has promoted the continuous improvement of business efficiency and service level
at present, our personal online banking customers have exceeded 160 million, mobile banking customers have exceeded 100 million, and the business volume handled through e-banking channels has exceeded 79% of the total business volume, which is equivalent to replacing more than 30000 physical outlets. Most of ICBC's wealth management and fund procts are sold through Internet channels, and the proportion of foreign exchange, precious metals and other transactions is as high as 99%. ICBC has also launched online pledge loans for indivial customers, online loan link, easy access, electronic supply chain financing and other procts for enterprise customers. Customers can apply for, issue and repay loans through online banking, and fully enjoy the results of Internet technology application
the continuous growth of Internet financial service demand also provides Internet enterprises with opportunities to expand financial business. The Internet financial model of e-commerce institutions, represented by third-party payment, online lending and online finance, has emerged and developed rapidly. At present, more than 200 domestic enterprises have obtained the third-party payment business license issued by the central bank. They use the network transaction environment to build a payment platform for indivial customers and small and medium-sized merchants
online lending, represented by P2P mode, has established direct trading channels for small and Micro customers through Internet platform. Now there are about 350 active online lending platforms, and the transaction scale of the whole instry is expected to reach 100 billion yuan this year. Recently, yu'ebao, which is very popular, is the representative of network financial management. They provide financial management channels for the deposit funds in customers' network accounts. With the platform operation and good customer experience, the financial services of Internet enterprises have quickly won a large number of customers
from the practice of financial service innovation of commercial banks and Internet enterprises, the evolution process of Internet finance is essentially the integration process of Internet technology and financial services. On the one hand, Internet financial services have not been separated from the financial functions of deposit, loan, remittance, investment and financing, and have not changed the nature of finance. On the other hand, Internet finance has significantly improved the efficiency of financial services, broadened the channels of financial services, and enriched the modes of financial services
with the help of Internet technology, Internet enterprises are involved in the payment, financing and financial management fields of traditional commercial banks, realizing the innovation of financial service mode. Commercial banks create a good online financial environment for customers through Internet technology, provide various basic services such as customer identity authentication and capital clearing for Internet enterprises to intervene in financial business, promote the prosperity of e-commerce and third-party payment, and support the growth of third-party payment enterprises. Commercial banks are also learning from the business model of Internet enterprises, constantly adjusting the channel positioning of their own e-banking, actively carrying out proct and service innovation, and realizing their sustainable transformation and development.
with the rapid development and popularization of network information technology, social life has graally entered the Internet era. People's lifestyle and consumption patterns are increasingly networked, forming a huge demand for online financial services
in the past decades, banks have been actively applying information technology to improve their service capabilities. In the 21st century, the popularity of the Internet has accelerated the pace of bank information technology application. Major domestic commercial banks have invested a lot of human and material resources in it system development, informatization and data construction, which has promoted the continuous improvement of business efficiency and service level
at present, our personal online banking customers have exceeded 160 million, mobile banking customers have exceeded 100 million, and the business volume handled through e-banking channels has exceeded 79% of the total business volume, which is equivalent to replacing more than 30000 physical outlets. Most of ICBC's wealth management and fund procts are sold through Internet channels, and the proportion of foreign exchange, precious metals and other transactions is as high as 99%. ICBC has also launched online pledge loans for indivial customers, online loan link, easy access, electronic supply chain financing and other procts for enterprise customers. Customers can apply for, issue and repay loans through online banking, and fully enjoy the results of Internet technology application
the continuous growth of Internet financial service demand also provides Internet enterprises with opportunities to expand financial business. The Internet financial model of e-commerce institutions, represented by third-party payment, online lending and online finance, has emerged and developed rapidly. At present, more than 200 domestic enterprises have obtained the third-party payment business license issued by the central bank. They use the network transaction environment to build a payment platform for indivial customers and small and medium-sized merchants
online lending, represented by P2P mode, has established direct trading channels for small and Micro customers through Internet platform. Now there are about 350 active online lending platforms, and the transaction scale of the whole instry is expected to reach 100 billion yuan this year. Recently, yu'ebao, which is very popular, is the representative of network financial management. They provide financial management channels for the deposit funds in customers' network accounts. With the platform operation and good customer experience, the financial services of Internet enterprises have quickly won a large number of customers
from the practice of financial service innovation of commercial banks and Internet enterprises, the evolution process of Internet finance is essentially the integration process of Internet technology and financial services. On the one hand, Internet financial services have not been separated from the financial functions of deposit, loan, remittance, investment and financing, and have not changed the nature of finance. On the other hand, Internet finance has significantly improved the efficiency of financial services, broadened the channels of financial services, and enriched the modes of financial services
with the help of Internet technology, Internet enterprises are involved in the payment, financing and financial management fields of traditional commercial banks, realizing the innovation of financial service mode. Commercial banks create a good online financial environment for customers through Internet technology, provide various basic services such as customer identity authentication and capital clearing for Internet enterprises to intervene in financial business, promote the prosperity of e-commerce and third-party payment, and support the growth of third-party payment enterprises. Commercial banks are also learning from the business model of Internet enterprises, constantly adjusting the channel positioning of their own e-banking, actively carrying out proct and service innovation, and realizing their sustainable transformation and development.
6. There are two stages
when the popularity of the Internet impacts the traditional hierarchical society, the realization is the de organization and centralization in the real society
from the perspective of the Internet itself, the Internet also has hierarchy and center
in the simplest way, the network knows that there are different levels. Although you answer questions with others at the same time, the result is the same. Because of the level, the priority of presentation is different. Isn't it hierarchical and centralized
in general, the Internet tends to be decentralized.
when the popularity of the Internet impacts the traditional hierarchical society, the realization is the de organization and centralization in the real society
from the perspective of the Internet itself, the Internet also has hierarchy and center
in the simplest way, the network knows that there are different levels. Although you answer questions with others at the same time, the result is the same. Because of the level, the priority of presentation is different. Isn't it hierarchical and centralized
in general, the Internet tends to be decentralized.
7.
The impact of the development of Internet on finance is that Internet finance begins to develop in the direction of all-round financial services. Mobile payment, cloud computing, social network, search engine and other emerging technologies are deeply combined with traditional finance, giving birth to various forms of Internet finance mode, which can provide customers with comprehensive, seamless, fast, safe and efficient financial services. At present, innovative operation modes of Internet Finance emerge in endlessly, such as third-party payment platform mode, P2P network credit mode, P2b mode (indivials provide loans to small enterprises), crowdfunding financing mode, virtual currency and transaction generated with the rise of e-commerce, Internet banking mode initiated by e-commerce, and search price comparison mode, That is to say, through the way of financial proct search engine, indivials with investment and financing needs and small and medium-sized banks and small loan institutions with capital needs can be connected in a financial platform, so that commercial banks can obtain customers in bulk through Internet channels
< UL >the challenge of Internet finance to commercial banks. Compared with traditional finance, Internet finance has obvious advantages in fund matching effect, channel, data information, communication cost and system technology. At present, the vigorous development of Internet finance has posed severe challenges to traditional banks in some aspects, It is mainly manifested in the following aspects:
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the virtual network of Internet finance can largely replace the functions of physical network of banks
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the great significance of the development of Internet Finance
< / UL >
2. Internet finance can break through the limitations of time and space
3. Internet finance can greatly rece business costs
4. Internet finance can effectively improve the effect of financial services and risk management
big data can collect massive data Unstructured data, through the fact analysis and mining of customer transaction information, grasp the customer's consumption habits, accurately predict customer behavior. Making full use of big data, cloud computing and information collection and processing can help to have a definite aim in financial operation and risk control. Therefore, Internet finance can effectively improve the effect of financial services and risk management
while Internet Finance challenges and brings competition to traditional finance, it also injects new ideas and vitality into traditional finance, and promotes new cooperation space. We should not oppose traditional finance and Internet finance, or even attempt to ban them. In today's unstoppable technological progress, this is also impossible
In fact, traditional banks also have their own advantages, such as the most extensive customer groups, a large area of network resource accumulation and a large number of professionals. This is the incomparable professional and resource advantages of Internet finance. While giving full play to their own advantages, commercial banks can learn from and use the concept and mode of Internet finance, so as to obtain broad development space < UL >the process of Internet finance from scratch, from germination to rapid development shows that this is a new mode of using Internet technology and spirit to realize financial services, which is essentially a more democratic and inclusive financial mode, which is of great significance
first of all, the development of Internet finance has broken the monopoly of banks on finance
Secondly, to some extent, it promotes the marketization of interest rate and improves the income of investors. For example, the impact of yu'ebao on the fixed interest rate of banks forces commercial banks to adapt to market innovation and make changesfinally, Internet finance can be more open, equal and cooperative to promote a new inclusive financial format
for example, the development of P2P helps to alleviate the loan situation of small and medium-sized enterprises to a certain extent, and supports the development of small and medium-sized enterprises; There is also a diversified demand for personal finance, including personal investment and wealth management. Internet finance also has a lot of room for development. Through the channel of Internet finance, finance is no longer a professional term that ordinary people can't understand, and financial procts, monetary funds and other businesses are no longer procts with a high threshold of participation, Indivial investors can easily participate in the financial system and get benefits, which is inclusive finance, which is also a broad market demand that traditional finance can not take into account
The development of Internet finance is changing China's financial ecology Internet Finance represents the direction of financial innovation. We should take a positive attitude to create a good development environment for it in policy. We should pay attention to and solve its problems, especially improve its risk control ability and crack down on illegal and criminal actions, To ensure the healthy development of Internet Finance and promote it to play the role of financial allocation in the market. At the same time, in order to guide and support the market competition of Internet finance, practitioners need to improve their management through various forms such as instry self-discipline, so as to be honest and law-abidingat present, the supervision of Internet Finance in China is not perfect. Many aspects of Internet finance have been engaged in banking business, but they are not regulated by the banking instry. Some enterprises even break the rules and go beyond the rules to compete, which will bring adverse consequences to financial stability. Moreover, compared with the business model of closed operation of traditional banks, Internet finance is more vulnerable to hacker attacks and virus attacks, and financial information is more likely to be stolen and tampered with, especially for the authenticity of traders' identity, which is sometimes difficult to confirm, and there is a greater risk of information leakage and fraud. Therefore, we should not only affirm the positive role of Internet finance, but also pay attention to its potential risks. We should strengthen the supervision of Internet finance, including internal self-discipline and external supervision
The legal position of Internet finance should be clarified, and it should be allowed to engage in financial services, but not cross-border operation. In fact, there are two regulatory bottom lines here. One is that we can't illegally absorb public deposits. Internet finance is not equal to banks; Second, we should not raise funds illegally. The current law has not made a clear positioning for all the attributes of financial institutions. Internet finance, especially the business activities of P2P lending platform, has not been clearly regulated by special laws and regulations. In fact, if the design and operation of P2P lending platform changes slightly, it may cross the border, enter the legal gray area, or even touch the bottom line2. The third-party deposit and custody system of funds needs to be improved
some P2P online lending platforms have not established the third-party custody mechanism of funds, and a large amount of funds are deposited in the platform accounts. Without external supervision, there will be the risk of funds being misappropriated or even escaping with money. In the past two years, some P2P online lending platforms have fled with money and closed down, which has brought great losses to the lenders and affected the healthy development of the whole instry. Therefore, to strengthen the security of Internet finance, we need to improve the third-party deposit and custody system
Improve the internal control system of Internet enterprisesthe imperfect internal control system may lead to financial risks. In practice, some internet financial enterprises unilaterally pursue business growth and operating profits, adopt some controversial and high-risk transaction modes, and do not establish a customer identification and transaction analysis reporting mechanism, which is easy to create conditions for criminals to use the platform to launder money, There are also some enterprises with the risk of low level of information security and easy disclosure of personal privacy. The enterprises engaged in Internet finance should do a good job in risk control from both institutional and moral aspects. They must set up internal control firewall and improve the internal control system of Internet enterprises
Strengthen the external supervision of Internet FinanceInternet finance is still finance in essence, but at present, there is a blind spot in the external supervision of Internet finance to some extent. For example, the regulatory responsibilities of money funds, insurance, P2P and other businesses operated by Internet finance are not very clear. In particular, some Internet platforms engaged in comprehensive financial services business need the unified coordination and management of multiple regulatory departments to strengthen the external supervision of Internet finance. With the development of financial instry and Internet finance, China's financial regulatory system is facing a certain degree of change
8. The impact of Internet Finance on banks:
(1) seize the market share of commercial banks
in the face of the rapid attack of Internet finance, the direct result of the banking instry represented by commercial banks is the rection of market share. Internet finance has an impact on banks in terms of payment methods, platforms and cross-border finance. Banks may not be able to resist the attack of Internet enterprises and be robbed of market share. At the same time, Internet Finance may erode 20% of the market share of banks. It is easy to understand that the development of new things will inevitably lead to the rection and concession of old things. Internet finance itself has the advantage of information processing, high efficiency, and no traditional intermediary, squeezing out the intermediate cost. However, commercial banks obviously do not have this advantage in credit, so the rection of market share is inevitable< (2) weaken the intermediary function of commercial banks
under the Internet finance mode, Internet enterprises provide financial search platform for both the supply and demand of funds, and provide payment services for customers, so that both the supply and demand of funds can use the search platform to independently find trading partners and complete transactions, which is a substitute for the traditional bank payment business, In other words, Internet finance will accelerate the financial disintermediation, and accelerate the marginalization of the capital intermediary function of commercial banks. In the future, the role of commercial banks in the field of credit will graally weaken until they are banned< (3) financial innovation of commercial banks has been forced. After so many years of development, commercial banks have been fixed in business operation mode and scope. However, the emergence of Internet finance is impacting the traditional development mode of commercial banks. Li Lihui, former vice president of Bank of China, believes that Internet financial proct innovation, service innovation and mechanism innovation will force commercial banks to make changes. Ma Yun also said that banks do not change, we change banks. If commercial banks do not develop and innovate themselves to adapt to the new era, there will be more financial innovations like Internet finance, forcing commercial banks to carry out reform. Otherwise, commercial banks, the "teacher Fu" of traditional financial institutions, are likely to be "beaten to death".
(1) seize the market share of commercial banks
in the face of the rapid attack of Internet finance, the direct result of the banking instry represented by commercial banks is the rection of market share. Internet finance has an impact on banks in terms of payment methods, platforms and cross-border finance. Banks may not be able to resist the attack of Internet enterprises and be robbed of market share. At the same time, Internet Finance may erode 20% of the market share of banks. It is easy to understand that the development of new things will inevitably lead to the rection and concession of old things. Internet finance itself has the advantage of information processing, high efficiency, and no traditional intermediary, squeezing out the intermediate cost. However, commercial banks obviously do not have this advantage in credit, so the rection of market share is inevitable< (2) weaken the intermediary function of commercial banks
under the Internet finance mode, Internet enterprises provide financial search platform for both the supply and demand of funds, and provide payment services for customers, so that both the supply and demand of funds can use the search platform to independently find trading partners and complete transactions, which is a substitute for the traditional bank payment business, In other words, Internet finance will accelerate the financial disintermediation, and accelerate the marginalization of the capital intermediary function of commercial banks. In the future, the role of commercial banks in the field of credit will graally weaken until they are banned< (3) financial innovation of commercial banks has been forced. After so many years of development, commercial banks have been fixed in business operation mode and scope. However, the emergence of Internet finance is impacting the traditional development mode of commercial banks. Li Lihui, former vice president of Bank of China, believes that Internet financial proct innovation, service innovation and mechanism innovation will force commercial banks to make changes. Ma Yun also said that banks do not change, we change banks. If commercial banks do not develop and innovate themselves to adapt to the new era, there will be more financial innovations like Internet finance, forcing commercial banks to carry out reform. Otherwise, commercial banks, the "teacher Fu" of traditional financial institutions, are likely to be "beaten to death".
9. Abstract: Internet Finance reces the financial transaction cost, improves the service efficiency, and has an impact on the operation mode and market pattern of commercial banks. This paper introces the current situation and characteristics of the development of Internet finance, and analyzes the impact of Internet Finance on commercial banks, hoping to provide reference for the future development of commercial banks
key words: Internet finance; Commercial banks; Impact
at present, the new vitality and vigor brought by the Internet to the traditional Chinese financial instry has become a huge boost to the innovation of Chinese financial instry. The so-called Internet finance refers to a business model that non-financial institutions use Internet technology or carry out financial activities such as financing, external payment and fund intermediary on the Internet platform. The emergence of Internet finance has changed the dominant situation of commercial banks in the traditional financial market, and has had a huge impact on the traditional financial instry banking
first, the development status of Internet Finance
Internet finance is based on advanced Internet technology. Relying on advanced Internet technologies such as big data and cloud computing, financial institutions constantly innovate their own technology platform to obtain and update customer information in time at extremely low cost. In addition, the development of Internet technology has graally changed people's consumption habits and lifestyle. With the popularity of the Internet, more and more people can enjoy the convenience of the Internet. All these provide a good foundation for the development of Internet finance
1. The development status of third-party payment. The third-party payment platform initially provides an online payment channel for the merchants and consumers of the network platform, which is a service for online transactions. With the development of Internet technology, the service scope of third-party payment is graally expanding, which is no longer limited to providing people with simple life services such as telephone recharge, but also graally involved in professional financial fields such as insurance and fund
2. The development status of P2P network lending. In recent years, P2P network platform has developed rapidly in China, and has reached a certain scale. By the end of 2014, the loan balance of P2P network lending platform exceeded 100 billion, and the total turnover exceeded 300 billion. However, e to the lack of record registration system, access threshold and perfect regulatory measures, the number of problem platforms increased sharply. In 2014, 287 platforms went bankrupt, difficult to withdraw money and ran away, which damaged the healthy development of P2P platform to a certain extent. Although the relevant regulatory authorities did not issue specific regulatory policies in 2014, the CBRC proposed "four red lines" and "ten regulatory principles", and the regulatory principles and ideas for P2P online lending platform have graally become clear
3. Development status of Internet sales. With the advent of yu'ebao in 2013, it has become the fourth largest Monetary Fund in the world. The successful issuance of yu'ebao has made Internet giants full of expectations for the financial market. For a while, Internet giants have launched their own internet financial procts, and a "baby army" has appeared on the Internet. The reason why these financial procts are popular is that they are not limited by time and region, and do not affect the liquidity of funds, The interest rate is higher than the current bank deposit in the same period, which meets the needs of ordinary people to invest and manage money with idle funds and develops rapidly< Second, the development characteristics of Internet Finance
the deep combination of Internet and finance effectively solves the problem of information asymmetry, greatly reces the cost of financial services, and improves the allocation efficiency of financial resources. In addition, the Internet Finance Based on the network platform can maximize the expansion of its customer groups, make it have scale effect, and can customize professional and personalized financial procts for customers to meet the needs of different customer groups. The characteristics of Internet finance are as follows:
1. Efficient, convenient and economical service. Internet financial trading platform can provide efficient and convenient services for the majority of customers. As long as there are computer devices or smart phone customer terminals, customers can trade and transfer money at any time and place through the Internet platform. Most of the network platforms can achieve real-time payment, This can not only provide the efficiency of financial services, but also greatly facilitate people's lives. In addition, the use of network platform for transactions can rece transaction costs and enable customers to enjoy better services at a lower cost
2. There is no limit on the amount of investment in Internet financial procts. The target customer group is the idle funds of ordinary consumers, which indicates that the sources of funds are mainly indivials and small and micro enterprises. In terms of where their funds go, small and micro enterprises and indivials also account for a considerable proportion, because it is difficult for these people to obtain sufficient financial support from banks, which also provides space for the development of Internet finance
3. Lack of supervision and high risk. Internet finance is still a new thing in China. At present, a complete set of regulatory laws and regulations have been formed, which has resulted in the blowout growth of Internet and finance in a short period of time. However, e to the lack of supervision, the qualification level of Internet financial enterprises is uneven. More importantly, the investment and financing evaluation only through Internet technology is very risky. Once there is a dispute, it is difficult for investors to use the weapon of law to safeguard their legitimate rights and interests
4. Blind expansion and homogeneous competition. With the rapid development of Internet finance, investors see a huge space for development. Coupled with its low entry threshold, many investors participate in Internet finance, but their proct R & D and innovation capabilities are insufficient, leading to the Internet financial procts tend to be the same. In order to compete for the market, Internet financial enterprises fight a price war, over package their procts, emphasize the high yield of procts, avoid the risks of procts, mislead consumers, and make consumers have the illusion of high yield and zero risk. But in fact, any investment is risky and its return is uncertain< Third, the impact of Internet Finance on China's commercial banks
1. The impact of Internet Finance on China's commercial banks
(1) weakening the intermediary status of China's commercial banks. Financing is the essence of finance. Specifically speaking, it is to act as a medium for fund suppliers and demanders to complete the allocation of funds. In the traditional financial market, this role is undertaken by commercial banks. However, with the development of Internet finance, this function of commercial banks has been seriously challenged, The dominance of commercial banks will eventually be broken
with the development of Internet technology, not only the supply and demand sides of funds can get in touch in time, but also the historical information of the supply and demand sides of funds can be obtained through search engines, cloud computing and other technologies, including their transaction and credit conditions, and even their violation probability can be calculated, which greatly solves the problem of information asymmetry, It makes the direct transaction between the supply and demand of funds possible, weakens the information intermediary function of commercial banks, leads to the emergence of financial disintermediation and accelerates its development
the development of Internet finance makes financial activities break through the limitation of time and space. It is easy to operate, convenient to trade, and greatly facilitates people's life. Although commercial banks have also established network banks, but the operation proceres are complicated, unable to meet the needs of customers for fast payment. At the same time, Alibaba, Tencent and other Internet giants use Internet technology to build a network payment platform. New payment methods such as "Alipay", "Cai Fu Tong" and "WeChat payment" have appeared one after another, so that when customers pay online, they do not need to open Internet banking, but only need to input bank card information. ID card information and mobile phone number can even scan the other party's QR code for quick payment, and there are no special provisions on the payment limit. The rise of online payment has brought users a good experience and weakened the payment intermediary function of commercial banks
(2) affect the main business of China's commercial banks. Internet financial enterprises have natural advantages in information processing. They can design specialized credit procts according to the characteristics of small and micro enterprises, such as Alibaba finance. At present, although Internet finance only provides credit services to small and micro enterprises, with the development of technology and the expansion of service field, it will inevitably have an impact on the credit business of commercial banks< However, the emergence of Internet finance has a huge impact on the bank's current deposits. The emergence of financial procts such as yu'ebao has made more people know, pay attention to and buy the "cash like" procts of Monetary Fund, which has a huge impact on the bank's liability business
the development of Internet finance has graally changed people's consumption habits. More and more young people choose online consumption and online payment, which will rece people's use of cash and impact the counter service of commercial banks. The emergence of the third-party payment platform makes it more convenient for people to transfer money and settle transactions, which has an impact on the settlement business of banks. All of these will occupy the living space of intermediate business of commercial banks< (1) promote the reform and innovation of China's commercial banks. The rapid development of Internet finance makes commercial banks feel unprecedented pressure, which has become a new driving force for the reform of commercial banks. Since the emergence of Internet finance, commercial banks have been innovating their own operation mode, vigorously developing e-banking, starting to build mobile banking and mobile payment, and constantly innovating to bring new experience to users. We should integrate the information resources we have mastered for many years, develop supply chain financial procts according to the principle of big data, and provide better financial services for enterprises while recing risks. Seize the money fund market, use their high credit, launch "baby like" financial procts
(2) optimize the market structure of China's commercial banks. At present, commercial banks and Internet finance enterprises have their own advantages, so many banks choose to cooperate with Internet finance enterprises for win-win results, especially small and medium-sized banks. The cooperation between banks and Internet finance can make banks use fewer outlets to serve more customers, thus forming new competitiveness. The emergence of this new competitiveness will inevitably have an impact on the original competition pattern. This will undoubtedly optimize the existing banking market structure.
key words: Internet finance; Commercial banks; Impact
at present, the new vitality and vigor brought by the Internet to the traditional Chinese financial instry has become a huge boost to the innovation of Chinese financial instry. The so-called Internet finance refers to a business model that non-financial institutions use Internet technology or carry out financial activities such as financing, external payment and fund intermediary on the Internet platform. The emergence of Internet finance has changed the dominant situation of commercial banks in the traditional financial market, and has had a huge impact on the traditional financial instry banking
first, the development status of Internet Finance
Internet finance is based on advanced Internet technology. Relying on advanced Internet technologies such as big data and cloud computing, financial institutions constantly innovate their own technology platform to obtain and update customer information in time at extremely low cost. In addition, the development of Internet technology has graally changed people's consumption habits and lifestyle. With the popularity of the Internet, more and more people can enjoy the convenience of the Internet. All these provide a good foundation for the development of Internet finance
1. The development status of third-party payment. The third-party payment platform initially provides an online payment channel for the merchants and consumers of the network platform, which is a service for online transactions. With the development of Internet technology, the service scope of third-party payment is graally expanding, which is no longer limited to providing people with simple life services such as telephone recharge, but also graally involved in professional financial fields such as insurance and fund
2. The development status of P2P network lending. In recent years, P2P network platform has developed rapidly in China, and has reached a certain scale. By the end of 2014, the loan balance of P2P network lending platform exceeded 100 billion, and the total turnover exceeded 300 billion. However, e to the lack of record registration system, access threshold and perfect regulatory measures, the number of problem platforms increased sharply. In 2014, 287 platforms went bankrupt, difficult to withdraw money and ran away, which damaged the healthy development of P2P platform to a certain extent. Although the relevant regulatory authorities did not issue specific regulatory policies in 2014, the CBRC proposed "four red lines" and "ten regulatory principles", and the regulatory principles and ideas for P2P online lending platform have graally become clear
3. Development status of Internet sales. With the advent of yu'ebao in 2013, it has become the fourth largest Monetary Fund in the world. The successful issuance of yu'ebao has made Internet giants full of expectations for the financial market. For a while, Internet giants have launched their own internet financial procts, and a "baby army" has appeared on the Internet. The reason why these financial procts are popular is that they are not limited by time and region, and do not affect the liquidity of funds, The interest rate is higher than the current bank deposit in the same period, which meets the needs of ordinary people to invest and manage money with idle funds and develops rapidly< Second, the development characteristics of Internet Finance
the deep combination of Internet and finance effectively solves the problem of information asymmetry, greatly reces the cost of financial services, and improves the allocation efficiency of financial resources. In addition, the Internet Finance Based on the network platform can maximize the expansion of its customer groups, make it have scale effect, and can customize professional and personalized financial procts for customers to meet the needs of different customer groups. The characteristics of Internet finance are as follows:
1. Efficient, convenient and economical service. Internet financial trading platform can provide efficient and convenient services for the majority of customers. As long as there are computer devices or smart phone customer terminals, customers can trade and transfer money at any time and place through the Internet platform. Most of the network platforms can achieve real-time payment, This can not only provide the efficiency of financial services, but also greatly facilitate people's lives. In addition, the use of network platform for transactions can rece transaction costs and enable customers to enjoy better services at a lower cost
2. There is no limit on the amount of investment in Internet financial procts. The target customer group is the idle funds of ordinary consumers, which indicates that the sources of funds are mainly indivials and small and micro enterprises. In terms of where their funds go, small and micro enterprises and indivials also account for a considerable proportion, because it is difficult for these people to obtain sufficient financial support from banks, which also provides space for the development of Internet finance
3. Lack of supervision and high risk. Internet finance is still a new thing in China. At present, a complete set of regulatory laws and regulations have been formed, which has resulted in the blowout growth of Internet and finance in a short period of time. However, e to the lack of supervision, the qualification level of Internet financial enterprises is uneven. More importantly, the investment and financing evaluation only through Internet technology is very risky. Once there is a dispute, it is difficult for investors to use the weapon of law to safeguard their legitimate rights and interests
4. Blind expansion and homogeneous competition. With the rapid development of Internet finance, investors see a huge space for development. Coupled with its low entry threshold, many investors participate in Internet finance, but their proct R & D and innovation capabilities are insufficient, leading to the Internet financial procts tend to be the same. In order to compete for the market, Internet financial enterprises fight a price war, over package their procts, emphasize the high yield of procts, avoid the risks of procts, mislead consumers, and make consumers have the illusion of high yield and zero risk. But in fact, any investment is risky and its return is uncertain< Third, the impact of Internet Finance on China's commercial banks
1. The impact of Internet Finance on China's commercial banks
(1) weakening the intermediary status of China's commercial banks. Financing is the essence of finance. Specifically speaking, it is to act as a medium for fund suppliers and demanders to complete the allocation of funds. In the traditional financial market, this role is undertaken by commercial banks. However, with the development of Internet finance, this function of commercial banks has been seriously challenged, The dominance of commercial banks will eventually be broken
with the development of Internet technology, not only the supply and demand sides of funds can get in touch in time, but also the historical information of the supply and demand sides of funds can be obtained through search engines, cloud computing and other technologies, including their transaction and credit conditions, and even their violation probability can be calculated, which greatly solves the problem of information asymmetry, It makes the direct transaction between the supply and demand of funds possible, weakens the information intermediary function of commercial banks, leads to the emergence of financial disintermediation and accelerates its development
the development of Internet finance makes financial activities break through the limitation of time and space. It is easy to operate, convenient to trade, and greatly facilitates people's life. Although commercial banks have also established network banks, but the operation proceres are complicated, unable to meet the needs of customers for fast payment. At the same time, Alibaba, Tencent and other Internet giants use Internet technology to build a network payment platform. New payment methods such as "Alipay", "Cai Fu Tong" and "WeChat payment" have appeared one after another, so that when customers pay online, they do not need to open Internet banking, but only need to input bank card information. ID card information and mobile phone number can even scan the other party's QR code for quick payment, and there are no special provisions on the payment limit. The rise of online payment has brought users a good experience and weakened the payment intermediary function of commercial banks
(2) affect the main business of China's commercial banks. Internet financial enterprises have natural advantages in information processing. They can design specialized credit procts according to the characteristics of small and micro enterprises, such as Alibaba finance. At present, although Internet finance only provides credit services to small and micro enterprises, with the development of technology and the expansion of service field, it will inevitably have an impact on the credit business of commercial banks< However, the emergence of Internet finance has a huge impact on the bank's current deposits. The emergence of financial procts such as yu'ebao has made more people know, pay attention to and buy the "cash like" procts of Monetary Fund, which has a huge impact on the bank's liability business
the development of Internet finance has graally changed people's consumption habits. More and more young people choose online consumption and online payment, which will rece people's use of cash and impact the counter service of commercial banks. The emergence of the third-party payment platform makes it more convenient for people to transfer money and settle transactions, which has an impact on the settlement business of banks. All of these will occupy the living space of intermediate business of commercial banks< (1) promote the reform and innovation of China's commercial banks. The rapid development of Internet finance makes commercial banks feel unprecedented pressure, which has become a new driving force for the reform of commercial banks. Since the emergence of Internet finance, commercial banks have been innovating their own operation mode, vigorously developing e-banking, starting to build mobile banking and mobile payment, and constantly innovating to bring new experience to users. We should integrate the information resources we have mastered for many years, develop supply chain financial procts according to the principle of big data, and provide better financial services for enterprises while recing risks. Seize the money fund market, use their high credit, launch "baby like" financial procts
(2) optimize the market structure of China's commercial banks. At present, commercial banks and Internet finance enterprises have their own advantages, so many banks choose to cooperate with Internet finance enterprises for win-win results, especially small and medium-sized banks. The cooperation between banks and Internet finance can make banks use fewer outlets to serve more customers, thus forming new competitiveness. The emergence of this new competitiveness will inevitably have an impact on the original competition pattern. This will undoubtedly optimize the existing banking market structure.
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