JD.com and Tencent "restart" fintech

Once upon a time, financial technology was crowned as the master of the Internet.

Perhaps because of this, almost all Internet players have focused their attention on it, as if fintech has become the end game of the Internet.

This is true for Alibaba, Tencent is like this, and the same is true for Baidu.

However, if it is only the master of financial technology, but does not further develop and evolve financial technology, then its development will still fall into the strange circle of the Internet.

With the suspension of Ant Financial's listing, fintech began to fall from the altar and completely reduced to the cloak of the Internet.

Compared with the previous call for wind and rain and full of brilliance, the development of financial technology has begun to become sluggish and bleak.

Ant Financial's fintech model has begun to encounter more and more difficulties and challenges.

Fintech has begun to enter a deep reshuffle period.

If the development of financial technology at such a stage is summarized and defined, shuffle and adjustment are undoubtedly the key words.

After a long period of exploration and practice, financial technology began to bid farewell to the past decline and found a new path of development.

Players represented by JD Digital and Tencent Finance began to look at the development of financial technology from a new perspective, and began to bring the development of financial technology to a new stage of restart.

After reviewing the exploration and practice of JD Digital and Tencent Finance, we may be able to summarize the internal logic of the restart of financial technology.

Throughout the industry, financial technology has a new connotation

In the past, when it came to financial technology, the first thing that came to people's minds was that standing at the end of the industry was just the final harvest.

The reason why Internet players represented by Ali are involved in it is more based on such a logic.

Although such an approach can allow financial technology to obtain short-term dividends, however, when the dividends are harvested, financial technology will still fall into a predicament similar to the Internet.

One of the important reasons why Ant Financial's listing was halted is this.

It is obvious that only seeing financial technology as a reaper role, and only regarding financial technology as a terminal existence, will inevitably not bring a lasting driving force to the development of financial technology.

In order to achieve the restart of financial technology, it is necessary to make financial technology change from just a lofty posture, and it is necessary to let financial technology run through the industry.

Only in this way can the development of financial technology enter a new stage.

We can see a hint of this from the exploration and practice of JD Digital and Tencent Finance.

Unlike Ant Financial, players represented by JD Digital and Tencent Finance see fintech more as a combination of the Internet and finance, and they are more seeking the deep integration of fintech and the industry.

Through such a deep integration, JD Digital and Tencent Finance have realized the support for the industry, changed the disadvantages of just being outside the industry in the past, and opened up a new development path of financial technology.

For financial technology, the attempts of JD.com and Tencent are undoubtedly a new beginning.

It tells us that the so-called financial technology is not just the sum of the Internet model, but the starting point of the Internet model to innovate again.

With such a starting point, the development of financial technology can be restarted, and the new meaning of the Internet can be given.

The Internet has re-evolved, and financial technology has gained new momentum

In order to restart the development of fintech, it is necessary to find new momentum for it.

In the past, when we looked at fintech, we only regarded it as an Internet-like existence, and only regarded the Internet as its only driving force.

As a result, we have seen that almost all Internet players are making platforms, and almost all Internet players are harvesting traffic.

Obviously, just using the Internet as the driving force of financial technology will inevitably lead the development of financial technology into a dead end.

Only by jumping out of the shackles of the Internet, truly realizing the evolution of the Internet, and empowering financial technology with such a new evolution, can we break through the shackles of the Internet and truly open a new development skylight.

When fintech starts to restart, what we see is that the re-evolution of the Internet begins to take place, and what we see is that the upgrade of the Internet begins to appear.

Whether from a technical point of view or from a technical point of view, the new evolution of the Internet is bringing a steady stream of growth momentum to the development of financial technology.

Today, financial technology is no longer an existence that stays under the scope of the Internet, but has been given more new connotations and meanings.

From a technical point of view, Internet technology has begun to give birth to new technologies represented by big data, cloud computing, and AI, which have begun to be deeply integrated with the industry in a new way, and have brought a profound change to the development of the industry from the inside out.

From the perspective of model, the Internet-style platform and centralized model have long been replaced by the de-platform and decentralized model, and the Internet is no longer an existence independent of the industry, but has become an existence that is deeply integrated with the industry.

It is in this context that we have seen the development of fintech begin to restart.

Looking back at the logic behind such a restart, the re-evolution and re-upgrading of the Internet is undoubtedly the one that deserves our attention.

One of the important reasons why players represented by JD Digital and Tencent Finance have been able to lead the development of financial technology to a new stage is that they have realized the re-evolution of the Internet, and they have realized the re-upgrading of the Internet, so that the development of financial technology has new momentum.

Linking the virtual and the real, fintech has a new role

As mentioned above, in the past, financial technology has always been dubbed the role of the aggregator of the Internet.

For financial technology, the biggest function and significance of its existence is that it takes the Internet model to the extreme.

However, such a role of financial technology only brings the virtual economy and the real economy into a state of development that is opposed to each other and separated from each other.

The so-called financial empowerment entity, financial support entity, has also become an empty word.

It is obvious that the extreme use of financial technology to the Internet model will not only fail to promote its development, but will even bring its development into a dead end.

One of the important reasons why we see so many fintech players have problems and fall into a development dead end is this.

In essence, only by redefining and interpreting the new role of financial technology and rediscovering the new functions and roles of financial technology can its development be brought to a new stage.

Through the practice of JD Digital and Tencent Finance, we can see that the current financial technology is no longer the existence of the virtual economy and the real economy, but has become a bridge and link to realize the deep integration of the virtual economy and the real economy.

Through it, the virtual economy is no longer an existence that is free from the real economy, no longer an existence that competes for the market with the real economy, but has become an existence that is perfectly integrated with the real economy and can produce new species and new products.

When fintech has such a new role, its imagination space begins to be further activated and expanded.

If we regard financial technology, which is built under the traditional role, as an existence that can see the ceiling, then when financial technology begins to assume a new role of linking the virtual and the real, it opens up a new blue ocean for us, and it allows us to see a new future.

One of the very important reasons why players represented by JD Digital and Tencent Finance have begun to show so much development potential is this.

It is foreseeable that when such a new role of financial technology begins to mature, it will derive more new models and release more new dividends.

From this moment on, financial technology can truly take on the important task of opening up the new development of Internet players, and no longer just overdraft the Internet model endlessly as before.

As a result, the integration of the virtual economy and the real economy will no longer be an empty word, but a reality that can be implemented.

Players represented by JD.com and Tencent will also bid farewell to the virtual Internet in the traditional sense and truly enter the era of the real Internet.

epilogue

Fintech is starting a restart.

It is no longer the culmination of the Internet model, but has become a model for the iteration and upgrading of the Internet.

For financial technology, it has a new connotation, a new momentum, and a new role.

With this as a start, financial technology will no longer exist in the style of the Internet, but will become a new existence with unique technology and unique model.

With this as a start, the development of financial technology can truly enter a new cycle, and new development will also begin to restart.

If we review such a restart, the testing and exploration of players represented by JD.com and Tencent will undoubtedly open a window for us to re-examine financial technology.

-ENDS-

Author: Meng Yonghui, senior writer, columnist, industry research expert, well-known KOL, digital economist.