Can Internet finance replace the traditional financial industry?

A: No, Internet financial transactions are still financial contracts, deposits are still deposits, loans are still loans, stocks are still stocks, and insurance is still insurance. Only the transaction mode has changed, that is to say, the appearance of the Internet has changed the scope, quantity, amount and speed of financial transactions, but it has not changed the essence of financial transactions. Therefore, the convenience of the Internet may greatly reduce the value of many business halls of traditional banks, but it is impossible to completely disappear. Although Internet finance will not replace traditional banks, the business transformation of banks is inevitable.