Today, there are too many documents and too few policies. In the end, the greatest fear of regulation has become that there is no risk in our own department, but there is a risk that the whole economy will not develop. Ma Yun said.
At the scene, he called for more future oriented Supervision: for real innovation, there must be no one to lead the way, and someone must be responsible for it. To do innovation without risk is to stifle innovation. Most of the time, controlling risk to zero is the biggest risk. Good innovation is not afraid of supervision, but we are afraid of yesterdays supervision. We cant manage the airport by the way of managing the railway station, and we cant manage the future with the method of yesterday.
Ma Yun said that todays banks continue the pawnshop idea of mortgage and guarantee, which is difficult to support the financial demand of the world development in the next 30 years. In the future, the financial system should help 20% of the people to help 80% of the small enterprises and young people; it is necessary to change money from the people in the past and enterprises to find people and enterprises.
The only criteria for evaluating this system are inclusive, green and sustainable, and whether the leading-edge technologies such as big data, cloud computing and blockchain play a decisive role. Taking P2P as an example, he pointed out that P2P is a group of swindlers with legal licenses under the guise of Internet finance. He said that only by combining experts and scholars, and only by combining theory with practice can we truly innovate and solve the problems of today and tomorrow. We need theories from practice, not from office theory.
According to the data, as early as the first Bund summit, Ma Yun said bluntly that Chinas finance should serve 80% of the people who have never been served, not for their own financial circle to amuse themselves and make money for themselves. Although there was a lot of discussion on the spot, one year later, an e-commerce bank providing 100, 000, 200, 000 pure credit loans for small and micro enterprises was approved to be established. Since the epidemic, this kind of pure credit small and micro loan technology has been opened to more than 100 banks in China.
Seven years ago, Ma Yun predicted that there would be great opportunities for technology driven Internet Finance in the next 30 years. Today, he once again predicted that if we build a new financial system that the world needs 30 years later, digital currency may be a very important core. We should ask ourselves, what practical problems should digital currency solve in the future? This digital currency is not found from history, not from the perspective of regulation, not from research institutions, but from the market, demand and future. It matters a lot.