By Cao Lishui
With the wide application of the IoT in the globe, the new format of "IoT + finance" emerges as the times require. In brief, the IoT finance is to apply the IoT technology such as the sensor and the data collection in the financial field, strengthen the authenticity of information and to build a more objective credit system.
The application of the IoT in the financial industry will deeply change the original mode of various financial fields such as the bank, security, insurance, leasing and investment and promote the generation of intelligent finance to contribute to the construction of a financial power of our country. A few days ago, on the World IoT Expo held in Wuxi, Jiangsu Province, the experts discussed about the broad prospects of the IoT finance.
More objective credit system
For many people, IoT finance is a strange concept. Shi Jie, the Vice President of China Minsheng Bank, thinks that "IoT finance is the intelligent finance in a real sense and is a brand new financial format". From the point of view of the commercial banks, the nature of IoT finance is the exploration of combining the logistics, the capital flow and the information flow.
"Under this exploration, connect the fictitious economy with the real economy by getting through various data from online to offline and explore the new profit model and commercial operating model in the information hedge," said Shi Jie.
Compared with the familiar concept of "internet finance", "IoT finance" is still at the embryonic stage. Jiao Ran, the President of the China Economic Information Service, thinks that "the influence of the internet on the economic society is well known and although the typical example of the new generation of communication technology-IoT, is still at the start-up stage, it is possible to be the core driving force of a new round of industrial revolution to bring new revolution opportunities to the financial industry".
What is the difference between the internet finance and the IoT finance? As far as the industry insiders concerned, the main difference lies in differences of credit bodies: internet finance is a people-oriented credit system while the IoT is a thing-oriented one, namely, IoT finance is to change the subjective credit into the objective one.
From the point of the credit, the IoT has exceeded the internet in general to a certain degree. Liu Haitao, the President of Wuxi IoT Industry Research Institute, said that "on the internet, the users can only see the information input manually and the information has been processed subjectively, so it may be not true; on the IoT, the information comes from the terminal of IoT system structure and are objective and true; the credit system of the IoT finance is more objective."
On a world scale, the competition of IoT finance has been unfolded. Jiao Ran indicated that the layout of the world's major developed countries in the IoT finance area is accelerating and America has put forward the smart mobility plan of six areas aiming at the IoT, among which one plan is to construct the intelligent finance.
Leading breakthrough in movable property financing area
In China, although the concept of the IoT was just put forward, it has obtained some substantial breakthroughs in the areas such as the movable property financing. Liu Haitao indicated that "according to the statistics, there are 70 trillion to 80 trillion personal estates in our country, the financing scale of which is very low; once the personal estates are effectively vitalized, the market vitality will be greatly promoted".
For a long time, it is difficult for the movable property financing to get the favor of commercial banks. According to the bank staff, because the immovable properties such as the real estate has the characteristics of non-transferrable, clear attribution, etc., the financing of commercial bank is relatively safe for the immovable properties "are able to be kept under control"; Because the personal estates have the characteristics of higher mobility, liquidity, etc., the banks are worried that "they are not able to be kept under control".
The application of IoT finance can realize the entire regulation and entire perception of personal estates, solve a series of problems such as repeat pledge, false pledge and personal estate transfer, reduce the pledge risks of the personal estates and is expected to realize the financing of the long-term supply chain. For banks, it helped to expand the business and serve the real economy well; For businessmen, the personal estate funds are vitalized.
According to the China's first IoT Finance White Paper issued during the IoT Expo, "The IoT finance changes the personal estates into immovable properties, which releases trillions of capitals and leads the booming of the real economy".
Presently, some commercial banks have accelerated the layout of the IoT finance. Ping An Bank introduced the intelligent monitoring system of the IoT sensing equipment, realized the intelligent managements of the personal estates, such as the identification, positioning and tracking and gave the personal estates the attributes of immovable properties; In the aspect of the IoT intelligent storage, Ping An Bank established the deep cooperation with hundreds of key ports, bulk warehouses and logistics parks.
Guaranteeing the financial security jointly
As a new format, the IoT finance not only brings huge opportunities, but also huge challenges. IoT Finance White Paper points out that "IoT finance has a series of problems to solve, the core technology needs to make a breakthrough and the large-scale application needs to be formed; the regulatory policy is still blank; the application scope needs to be expanded, and the current application scope of the IoT finance is very limited, with quite insufficient application breadth and depth".
Compared with the traditional network attack, the destructive power of the IoT equipment attack is also amazing. Jiao Ran said, "in October of this year, parts of America suffered from large-scale network attacks; numerous popular websites could not be logged in; two rounds of attacks caused the network paralysis lasting for about 6 hours. The analysis of the network security organ showed that most of the attacks came from the IoT equipment such as the camera, which indicated that the security threat was extending to the IoT area".
To promote the security of IoT finance, a breakthrough in the system design is the first need. As the IoT Finance White Paper suggests, "the related competent departments need to investigate the business requirements of IoT finance as soon as possible and introduce relevant policies to promote the healthy, orderly and quick development of the IoT finance".