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Learn Some Financial Trivia

Digital Economy

Digital finance refers to a new generation of financial services that are integrated with traditional financial service industry through the Internet and information technology means.

Classification According to the industry structure classification of Econometrics, digital finance includes Internet payment, mobile payment, online banking, financial service outsourcing and financial services such as online loan, online insurance and online fund.

Difference with traditional finance?

Traditional finance, in fact, we are all more familiar with it.

We previously for the banking business, generally need to go to the offline bank outlets for, buy stocks account, also need to go to the offline business department, etc., these basically can be categorized as traditional finance.

So where is the difference between digital and traditional finance ?

Simply put, it is to do addition on the traditional financial model, plus an Internet is Internet finance, which is the narrow sense of digital finance, plus emerging digital technologies, such as artificial intelligence, blockchain, etc., is the broad sense of digital finance, such as the previous central bank of China in Suzhou, Shenzhen and other four areas of the experiment of the central bank's digital currency, which is a new kind of digital finance.

Overall, the current practice of digital finance is concentrated in five major areas:

One is the infrastructure field, favoring technology, such as "big intelligence, cloud and mobile" and other technologies, regulatory technology, etc.;

The second is the field of payments and settlements, such as mobile payments, digital currency, bitcoin, other cryptocurrencies, etc.;

The second is the field of payment and settlement, such as mobile payments, digital currency, bitcoin, other cryptocurrencies, etc. Currency, etc.;

Third, the field of network financing, including Internet finance, network loans, etc.;

Fourth, the field of network investment, is also the field of early development in China, represented by the balance of treasure, and gradually to the transition to intelligent investment;

Fifth, the field of insurance, mainly the digitization of insurance, insurance science and technology, etc.;

Digital finance features:

1, emphasizing the return to the origin of compliance development.

Digital finance is the coexistence of the two rules of "digital + financial".

2, digital financial model innovation highlights.

Digital financial innovation is based on the financial model and industry innovation, financial technology is a means to serve the real economy is the core.

3. The practice of regulatory technology has been strengthened.

The use of regulatory science and technology to fill the regulatory "vacuum zone", improve the energy efficiency of financial regulation to promote the healthy development of financial technology has become an important means of financial institutions and financial regulators around the world to prevent financial risks and safeguard financial security.