Fintech is on a new path


In such a new development path, we can no longer see the traces of Internet finance.Instead, we see more aspects that reflect the essential nature and primitive meaning of finance.Return to entity, enabling entity, has become the new direction of fintech.And this is the purest and most imaginative aspect of finance itself.However, the return entity and enabling entity of fintech are different from the return entity and enabling entity of traditional finance.The return entity and enabling entity of traditional financial style are still realized by the elements and logic of traditional finance, but now, the return entity and enabling entity of fintech style have more new connotation and significance.If I summarize these new connotations and meanings, I would like to put them down to the deep integration and collision of two elements, “finance” and “science and technology”.Yes, fintech is no longer a simple combination of “Internet” and “finance” in the style of Internet finance, but has more new connotations and meanings.Looking back at these new connotations and meanings, we can clearly see that they are derived from the deep integration of the two elements of “finance” and “technology”.

If we turn the clock back to the time when fintech was growing savagely, perhaps we would take it for granted that the so-called fintech should be the simple combination of “finance” and “technology”, and the so-called fintech should be an independent existence outside the real economy.Because at this time, we do not have the ability to deeply integrate the two elements of “finance” and “science and technology”, let alone find the right way to realize the deep integration of “finance” and “science and technology”.Obviously, such a development logic of fintech, in fact, is not fundamentally different from Internet finance.To put it bluntly, fintech at this time is not so much a new species as a synonym for Internet finance.

What is certain is that if fintech stops there, its development will not last in any way.To achieve new development and break out of the vicious circle of Internet finance, it is necessary to abandon the practice of simply adding the two elements of “finance” and “technology”.Therefore, we have seen a series of new exploration of players represented by JD Technology, we have seen the derivation and emergence of new financial species represented by digital finance and supply chain finance, and we have seen a new turning point for fintech after a long period of sinking and confusion.If one has to find the original source of power for these phenomena, the deep integration of the two elements of “finance” and “technology” is undoubtedly a major aspect.

When the two elements of “finance” and “science and technology” are deeply integrated, the dominant position of “finance” and “science and technology” has been corrected.In the past, fintech, as we know it, was a technology oriented and financial tool.Rather, fintech in the past was simply a new tool created by Internet players to harvest traffic.Although we can indeed achieve certain growth through the transfer and mining of traffic objects, fintech, which is dominated by technology and takes finance as a tool, will inevitably lead the development of fintech into a kind of superficial and superficial development cycle.Players do not participate in the actual operation of the real economy, but merely act as a third party and spectator.It is conceivable that the development of fintech cannot return to and empower entities in this way, so the development of fintech cannot last for a long time.In the final analysis, it is the deviation of the subject status of “finance” and “science and technology” that leads to such a result.

When “finance” and “science and technology” begin to deeply integrate, the main position of “finance” has been corrected, and the tool function of “science and technology” has been sublimated and enlarged.At this point, fintech is no longer a third party outside the industry, but a new species that goes deep into the industry and continuously supports and empowers the industry in an all-round and multi-angle way.Meanwhile, by virtue of the deep connection between “science and technology” itself and industry, the function and role of “finance” have also been upgraded.

When the two elements of “finance” and “science and technology” are deeply integrated, the expression of “finance” and “science and technology” has a new evolution.In the past, fintech, whether from a financial point of view, or from a technical point of view, their form of expression has not changed fundamentally.Finance is still just traditional finance, and technology is still only dominated by Internet technology.When the expression form of “finance” and “science and technology” lacks new evolution, it cannot be returned to entity and enabling entity in any case.One of the most important reasons is that after the baptism of the Internet era, the real economy has undergone fundamental changes.Whether from the upstream mode of production, or from the downstream mode of supply, the real economy has undergone a profound and thorough change.With such a change, the demand of the real economy has also undergone a profound transformation.

Under such a profound change, new demands began to derive and emerge.They no longer simply need to “help the horse” like traditional finance, but start to need more “send a ride” and “accompany the horse”, which has become the main manifestation of the new demand.If fintech is still supplying in its traditional form, it must meet the needs of the real economy.When fintech fails to meet the needs of the real economy, the so-called “return to entity” and “enabling entity” also become empty words.To solve this problem, it is necessary to change the form of both “financial” and “technological” elements.When the two elements of “finance” and “science and technology” are deeply integrated, we can see that finance begins to derive more new elements and new species. Whether it is digital finance, intelligent finance and supply chain finance, almost all have new connotation and interpretation, and can find a breakthrough to return to the entity and empower the entity.

Similarly, the expression of “technology” has changed profoundly and comprehensively.The current “technology” is no longer the existence dominated by Internet technology as we used to think, but the existence dominated by digital technology.Different from the Internet technology, which only makes matchmaking and intermediary to improve the operation efficiency of the industry, the digital technology is more based on the underlying elements of the industry and the operation logic of the deep and thorough changes to improve the operation efficiency of the industry.

When the two elements of “finance” and “technology” are deeply integrated, fintech begins to find a new way to combine with the real economy.In the past, there have been so many criticisms of fintech. One of the most important reasons is that the combination of fintech and the real economy is still Internet-based, still takes traffic harvesting as the ultimate form of expression, and is still independent from the operation of the industry.When the two elements of “finance” and “technology” are deeply integrated, fintech is no longer an independent existence outside the industry, but an existence that runs through the industry and goes deep into all aspects of the industry.In such a case, the combination of fintech and the real economy has long been no longer the Internet-based traditional posture dominated by platform and center, but has been transformed into a new posture dominated by de-platform and de-center of digital economy.In this new position, fintech can deeply and comprehensively empower and transform the real economy from the front end of the industry to the end of the industry.It can be said that the current fintech is no longer an independent existence of the real industry and the real economy, but really integrated into the actual operation process of the real economy and the real industry.

For the Internet players who have been looking for a new position combining with the real economy, the combination of fintech and the real economy has completely broken through their previous development bottleneck and found the way and method to combine them with the real economy.From this perspective, fintech is a new way for Internet players to return to the physical and empower the physical.With this as a starting point, many new possibilities will open up for Internet players to enable and return to physical entities.

Conclusion

Fintech is on a new path.The real root cause of this phenomenon lies in the deep integration of the two elements of “finance” and “technology”.When the two elements of “finance” and “science and technology” are deeply integrated, the main body of fintech is confirmed, the form of fintech has evolved, and the combination of fintech and real economy has made a breakthrough. From this beginning, fintech will completely bid farewell to the stumbling block of Internet finance and truly enter a new cycle of its own development.

 

 


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