"Brother Ki, this payment software is what gives me the confidence to compete with other companies in the future. You know about the financial industry, but do you know what is internet finance? "
In Feng Yu's previous life, Ma Yun's Alipay had become the world's biggest third-party payment platform. Regardless of the scale, number of users, or cash flow, Alipay was the number one platform. At that time, Alipay still has many competitors. That means many people had realized the potential profits from this platform.
In this life, it will be developed much earlier and can be used on eBay, Amazon, Alibaba, Polar Bear Network, etc. Also, it is possible to control North America, China, and Eastern Europe. It will be more powerful than in Feng Yu's previous life.
In Feng Yu's previous life, Alipay's technology is developed by Asian Tiger, Softbank, and Father Ma's team. When Father Ma was the CEO, he sold this Alipay business to his own company. In the end, he cheated Asian Tiger and the rest.
Asian Tiger's share prices had fallen, but Alibaba's share prices kept rising. This is all because of Alipay. Alipay's valuation had exceeded Alibaba's other e-commerce sites and had become the core of Alibaba's value.
When Kirilenko heard Feng Yu talking about internet finance, he thought to himself. What's so hard to understand? It's just financial transactions on the internet.
"Feng, I understand. It's just like Nasdaq. It's electronic transactions on the internet. Shares are financial products, and Nasdaq's shares are internet finance, right? "
Feng Yu took out two cigars and passed one to Kirilenko. He lit it up and puffed out a ring of smoke. "You can put it this way. But the internet finance I am talking about is very different from what you are talking about. Internet finance is not a combination of the internet and the traditional financial industry. It's a combination of the traditional financial industry and the internet technology, including ICT, to achieve financial transactions, payments, investments, information intermediaries, etc. "
"You are talking about trading shares online. It's a type of investment, but it does not represent everything. All of our Internet finance should be based on the Internet, this point is right. Whether it's the market, service, organization, product, or regulatory system, they all need to be on the Internet platform. There's no need for any real transaction counters. All operations will be carried out on the Internet. There's no need for people to meet. Even if you hire a financial broker, you can communicate online. "
"Feng, this is not right. If I hire a financial broker and we communicate online, how do I sign the contract? How would I pay him? How can I trust him? "Kirilenko retorted.
"That's when you'll need our third-party payment platform. We provide a credit guarantee, and of course, we also need to do a credit evaluation. The contract will be based on the model we have on the internet. Both parties can confirm it through a video call. Of course, you'll still have to print out the contract and sign it in the beginning, but there's no need for that in the future. "
After the implementation of the real-name system, many agreements didn't need to be signed. All they needed to do was click OK. For example, downloading a mobile phone stock trading app and making a video confirmation on the internet would suffice. Even uploading an ID card only required a photo. There was no need for any signature, but it was still legally binding.
"Online video confirmation? That's not very clear, right? "There was already internet video technology now, but due to the limitations of internet speed, the clarity was relatively poor. Some ordinary users can't even use this technology.
"The internet is developing rapidly. You can't use today's perspective to understand products three years from now. Now, mobile phones can take pictures. Have you thought about this three years from now? "Feng Yu picked up Wind and Rain's mobile phone and asked.
"You're right. You are saying that online video will be common in three years?"
"It should not be a problem in developed countries. Even in countries with poor internet, most netizens will know about this. Moreover, after this thing is launched, it will develop faster and faster, perhaps even faster than we think. "
"Then what does the internet financial service you mentioned include? What are the products?" Kirilenko asked again.
"We have everything that the traditional financial industry has. For example, investments, deposits, withdrawals, loans, currency exchange, etc. Also, we can do things that the traditional financial industry cannot do. For example, raising funds from the masses. "
"Raising funds from the masses? What do you mean? Everyone is raising funds for one person? What's so special about this? The traditional financial industry also has this. "Kirilenko replied." That's right.
The traditional financial industry does have this. But let me ask you. Can a traditional financial industry raise 1 million RMB and split it into 1 million shares? "
"What? 1 million RMB needs to be split into 1 million shares? That's 1 RMB per person. How are they going to raise funds? Who will go to a financial institution for 1 RMB? "
"That's right. No one will go to the bank to raise funds for 1 RMB. But what if it is online? All you need to do is click your mouse and enter the password of a third-party payment platform. It will be done in one minute. "
This 1 million RMB split into 1 million shares is not made up by Feng Yu. In his previous life, Feng Yu had experienced crowdfunding. An author wants to publish a book, but no publisher is willing to publish it. For example, the content is too sensitive, or the target audience is too small. At this time, an author will start a crowdfunding campaign. A fan will donate 100 coins, which is equivalent to 1 dollar, to fund the author's book.
To fans, 1 RMB is nothing. But when it accumulates, some authors even use crowdfunding to adapt their novels into games or movies.
It's too troublesome to go to the bank to donate 1 RMB. But if it's only 1 minute online, it's much easier.
Some small-time singers want to release albums, new directors want to film movies, and even roadside stalls want to set up crowdfunding shops. Many failed, but many succeeded.
In other words, internet finance could do many small products that traditional finance could not do.
These are only the tip of the iceberg. There are many ways to make money through this third-party payment platform. Think about those traditional financial institutions' bankers. When did they lose money?
Just look at Hua Xia's world-class companies and all the state-owned banks. And this third-party payment platform was an institution that could compete with these large state-owned banks, and even had the potential to surpass them!
"Brother Ki, internet finance is much more convenient than you think. For example, if you want to get a loan, our platform will give you a loan as long as your credit is good enough. We can even launch some online financial products and push them to those who like to invest in financial products so that they can make a profit … "
As Feng Yu explained, Kirilenko's eyes brighten up. Internet finance is a treasure trove. Kirilenko must develop that third-party payment platform immediately!
… …
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