As the development of fintech enters the deep water, especially as players begin to straighten out the relationship between the two elements of “finance” and “technology”, new developments are beginning to unfold. Both Internet players and traditional financial players have focused their attention on exploring new ways of fintech development. It is predictable that when this phenomenon continues, fintech will completely get rid of the ungrounded development mode and truly return to the proper development track.
In the past, when we talked about fintech, we either focused on “finance” or “technology”. When we focus on “finance”, fintech has become a synonym for Internet finance; When we focus on “technology”, fintech becomes a harvester for traffic players. Therefore, it is not comprehensive to treat fintech only from the perspective of “finance” or “technology”. It is the right way to treat fintech as a whole.
In the past, under the influence of traffic thinking, players have been reluctant to explore the deep convergence of “finance” and “technology” too far. Therefore, they either use the attribute of “finance” or “technology” unilaterally, and fintech has come to a dead end. Practice has proved that a one-sided view of fintech as the development mode of “finance” and “science and technology” is unable to bring long-term development. Only by exploring the development of fintech from the perspective of the deep integration of the two elements can the development of fintech be brought to a new stage of development.
Fintech is a new kind of infrastructure
When the development of the industry has entered a new development stage represented by the combination of virtuality and reality, a fundamental transmutation from the inside out is taking place in all walks of life. At this time, the derivative of the new industry became a trend and trend. With the emergence of new industries, it is inevitable that new infrastructure is needed to match them, so that the industry itself can have a deep and thorough change.
For fintech, no matter from the perspective of “finance” or “science and technology”, the most important role and function it should play is definitely a kind of infrastructure. Therefore, how to realize the deep integration of “finance” and “science and technology”, and to make fintech truly assume the functions and roles of new infrastructure, is the key to ensure its long-term development.
In those days when the Internet model was in full swing, the integration of the two elements of “finance” and “technology” would have been virtually impossible. However, as the Internet era fades away, especially as new technologies continue to take root, the integration of “financial” and “technological” elements has new possibilities. The author regards the fusion of “finance” and “science and technology” under this background as an organic part of the fusion of virtual and real. It is with the deep integration of “finance” and “technology” that fintech can become a new type of infrastructure and continue to drive the development and evolution of new industries.
When fintech becomes a new type of infrastructure, its priority is no longer to harvest traffic, but to find ways and means to integrate with new industries to better facilitate the development of new industries. This is the real role of fintech. With this as the beginning, new industries can have new “capillaries”, new industries can have new “infrastructure”, new industries can have internal sources of development.
Fintech is a new form of finance
All along, we have said that the essence of finance is to return to the real world and support the development of the real economy. This sentence is true, can be said to really capture the essence of finance and the original meaning. However, we should also see that fintech, on the road of returning to the real economy and supporting the development of the real economy, inevitably needs to keep evolving, especially to keep up with the pace of the evolution of the real economy, in order to truly realize the goal and task of returning to the real economy and supporting the development of the real economy.
As a matter of fact, the real economy is undergoing a profound and comprehensive change. Now we see the real economy is no longer the former real economy, but with many new concepts and connotations. Whether it is the extensive application of new technologies in the field of real economy, or the continuous maturity of new elements in the real economy, the real economy is undergoing a profound and thorough change. When the real economy changes, the financial sector must change to achieve the goal and task of returning to the real economy and supporting the development of the real economy.
Fintech, it is to play such a function and role. However, if only the traditional finance to act as such a role, it is bound to be unable to meet the development of the new real economy. Only by using new financial forms and new financial elements to find ways and methods to combine with the new real economy can finance truly return to the real economy and finance support the development of the real economy.
Financial technology, it is in such a big background just took place profound and thorough changes. In the final analysis, fintech is to metamorphose into a new form of finance. With the help of such a new form, finance can deeply integrate with the real economy again, become a booster for the development of the real economy again, and truly promote the development of the real economy. If we were looking for a footnote to fintech, the new form of finance could not be more appropriate.
Fintech is a new type of production relationship
The next reconfiguration of productivity, factors of production and relations of production is taking place in all walks of life. Fintech was born under such a background. In the author’s opinion, fintech presents us more with a brand new relationship of production. As we all know, no matter in the era of traditional finance or in the era of Internet finance, finance exists as a third party.
Although people have been saying that the essence of finance lies in the return to the real and the empowerment of the real, how much of the real economy has been supported by the return to the real? Very little, so to speak. For the most part, financial players still position themselves as third parties, as outsiders.
Obviously, in such a production relationship, it is difficult for finance to return to the real economy and support the development of the real economy. This is the key reason why we have seen so much financial turmoil, and why risk control has always been regarded as the top priority of finance.
If the failure to truly return to the real economy and enable the development of the real economy is a common problem of traditional finance, then the deep and thorough changes taking place in the industry itself will further magnify such a risk. When the development of the industry begins to be filled with more and more new elements, when the development of the industry begins to form a brand new production relations, if the fintech still stays in the past development mode, it will inevitably face greater risks and difficulties.
It is in this context that we see the arrival of the new evolution of fintech represented by the deep integration of “finance” and “technology”. In essence, the author believes that this new evolution is actually constructing a new type of production relations, especially a new type of production relations between finance and industry. Under such a new type of production relations, the traditional sense of finance from the entity, finance deviates from the industry criticism will be completely solved.
With this as the beginning, finance will no longer be an existence dissociated from the industry, and will no longer be an existence above the industry, but will become a deep integration with the industry, throughout the industry. In this new stage, finance has truly become an organic part of the real economy. It can not only contribute to the development of the real economy, but also its own development will be supplemented by the real economy, thus truly entering a new stage of development.
Fintech is entering a new stage of development. In this new stage, the deep integration of “finance” and “science and technology” is undoubtedly the main theme. Thanks to such a deep integration, the nature of fintech is also undergoing a deep change. So far, fintech has become a new type of infrastructure, a new form of finance and a new type of production relations. The combination of fintech and the real economy has also entered a new stage of development.