Financial technology “3 musketeers”: block chain, digital currency, artificial intelligence
With the development of the block chain, artificial intelligence, big data and cloud computing and other emerging technologies, the scope of its application is expanding. Among them, the integration of financial and technology deepening, to enhance the efficiency of the financial industry in the application of these techniques in the financial technology industry came into being, such as emerging like bamboo shoots after a spring rain. The day before, the largest French bank BNP Paribas Bank announced the digital transformation plan, is expected to 2020, the BNP Paribas Bank to digital innovation in the field of investment of 3 billion euros, and through the establishment of more innovative products and technology platform to attract more customers, improve the competitiveness of the bank, to achieve the transformation.
In fact, more and more traditional commercial banks began to invest financial technology arms, data show that in 2015 $19 billion 100 million investment into the financial field of science and technology, global financial technology investment is expected in 2016 will reach $30 billion, an increase of 57%. The integration of technology and finance to the traditional financial model has undergone substantial changes, among them, block chain, digital currency and the development of artificial intelligence and applications, is the traditional financial takeoff plug wings “”.
Block chain by “hate” love “”
From the “unpopular” to become “xiangbobo” in recent years, the blockchain position has significantly increased. Block chain was born at the beginning of the financial industry is not optimistic, however, to the center of the block chain and transparency advantages gradually surfaced, the traditional financial industry also gradually began to accept and even love it. In September 2016, by Britain’s Barclays Bank completed the world’s first pen using the block chain technology trade settlement, settlement and only when less than 4 hours, far faster than the usual 7 to 10 days, the blockchain Yueranzhishang technology advantage.
Today, more than a block chain technology alliance has considerable size. Recently, more than 30 companies including Microsoft, Accenture, JP Morgan, UBS and Credit Suisse Group, set up a business alliance (EEA) of the etheric Fang new block chain technology alliance, joint development of new standards and technologies, so as to make the enterprise more convenient to use in the square block chain too. The reporter understands, Ethernet square is a new open block chain platform, allowing anyone to write smart contracts and to the center of the application running on the platform. Ethernet workshop allowing users with a simple code to create a new system of customer needs, in order to achieve personalized customization, and the establishment of the purpose of EEA is to create a standardized and open source Ethernet square, so as to create a specific application basis.
In addition, led by the Linux foundation established the block chain project Hy-perledger ushered in 11 new members, including 3 China enterprises. While the United States R3CEV syndicated focused on the financial industry chain development block technology, currently has about 70 enterprises to participate in the financial. In August 2016, R3CEV said the bank syndicate, joining in 15 has joined a trade financing test, distributed books test protocol named Corda.
Block chain has been pursued, one of the reasons is that the technology can help financial institutions cost savings. The data show that the block chain technology for America’s 10 biggest banks annual savings of about $8 billion to $12 billion of infrastructure costs, the total cost of 30%. In China, block chain has been written “” 13th Five-Year “National Informatization Plan”, provides a powerful support for the development of this policy block chain technology, including the gold service, micro public bank and Ping An insurance, Chinese enterprises are actively testing block chain technology. Insiders said that the China financial services business is not easy to bound by the system and outdated technology, have stronger competitive advantage, and infrastructure China financial services market on a large scale, high integration degree, it will become a powerful force for the development of block chain technology. IBM said in the London financial market for global head, block chain, 2016 is “proof of concept” of the year, and in 2017 or will be put into action a year.
Digital currency development like a raging fire
As everyone knows, block chain technology is the underlying technology bitcoin, after years of development, bitcoin from the year in recent years to No one shows any interest in, outbreak of a blowout, the price is soaring. Bitcoin has been pursued, is the key to the center, does not depend on the characteristics of the third party distribution and trading.
It is worth noting that the digital currency bitcoin represented in recent years has also been much attention. In August 2016, UBS, Deutsche Bank, Santander Bank of New York Mellon and the world’s four largest bank has announced that it will jointly develop new digital currency, to be through the block chain technology to clearing transactions in the future, and become the global banking industry standard. And the national level of digital currency attention and research are carried out continuously.
Norway has been leading in the currency of the digital road around the world, and the people’s Bank of China in early 2014, it set up a special team to issue legal digital currency, a prospective study of digital currency related issues, the research work is a digital currency in everything in good order and well arranged. The Bank of England in a study pointed out that the central bank through the issuance of digital currency, direct control of the money supply and credit creation, no longer need to use interest rates as the main policy tool. The day before, Philippines became the first launch of digital currency regulatory measures country in Asia, Philippines’s central bank approved a digital currency exchange as well as the regulatory framework for similar entities, to maintain a balance in improving the financial system and the efficiency of the new technology and inclusive between the risks.
Artificial intelligence to promote financial intelligence
Another heady new technology of non artificial intelligence is, last year, AlphaGo turned out, the stunning debut, this year’s version of the AlphaGo Master once again topped, all kinds of intelligent robot frequently appeared on the variety show has attracted the attention of the audience. In fact, the application prospect of kernel deep learning and speech recognition technology behind artificial intelligence robot carrying more widely.
Winter chief economist Tao managing director of Asia and wrote that the United States will be the application of artificial intelligence technology in the field of asset management has made great progress, operational intelligence investment consulting business in the United States has been more mature. In contrast, the current financial Chinese smart though started late, but the rapid development of the intelligent financial support frame has been there, with the application of solid financial and technological just need more time.
Compared with the traditional financial sector, financial intelligence can quickly collect and deal with a large amount of information, so as to make investment decision and risk management etc.. In addition, on the deep learning ability in the human brain, can overcome the human feelings and thinking of weakness. At the same time, artificial intelligence in high-speed computing and massive data can provide financial support, more personalized service. Remarkable intelligent financial advantage in solving the problem of information asymmetry at the same time, it can improve financial efficiency and market efficiency.