2018 International Financial Technology Summit Held: New Sci-Tech Innovations Leading the Next Wave of Financial Globalization

Release time：2018-11-23    

On November 18th, the 2018 International Financial Technology Summit jointly organized by the Investment Promotion Office of Shanghai Yangpu District People's Government, the Fintech Research Center at Fanhai International School of Finance, Fudan University, the Fintech Center of International Finance Forum, and LUN Partners Group was successfully held at Knowledge and Innovation Community(KIC). The theme of this forum is “New Sci-Tech Innovations Leading the Next Wave of Financial Globalization”. As the director of the Fintech Research Center, Professor Zhang Chunxin from gave a welcome speech.

▲ Professor Zhang Chunxin

Professor Zhang Chunxin pointed out that the world today is undergoing a transformation that will change our world economic and financial trends as well as geopolitical developments of the next few decades. The key to this transformation is financial technology. It is not only a future trend, but also a change in progress.

Apart from Professor Zhang, the guests attending the forum also included Ma Chunyun, Director of the Investment Promotion Office of Shanghai Yangpu District, Zhang Yong, Director of the Fintech Center of the International Finance Forum, Li Peilun, Founder and Chairman of LUN Partners Group, and Song Siqi, Co-Director of the Fintech Research Center at Fanhai International School of Finance and Associate Professor of Finance at Fudan University, Greg Brogger, Founder and CEO of SharesPost, Dare Okoudjou, Founder and CEO of MFS, and James Verner, Head of the global innovation business of MeiSheng Group.

▲ All guests taking a group photo

Professor Zhang Chunxin said in his speech that financial technology is not only a future trend, but is also happening to everyone. For example, China is experiencing a “cashless revolution”, which replaces cash payments with electronic payments, making “cashless” payments such as credit card payment and mobile payment the mainstream payment forms. Cashless payment is efficient and convenient, which is the developmental direction of our future society. That makes it less difficult to explain why the current valuation of Ant Financial has exceeded 150 billion US dollars.

“In order to gain a deeper understanding of the future trends of the industry, practitioners must keep learning from practice and always be ready to meet the challenges brought by technological innovation. Today's summit is a very good opportunity for Fanhai International School of Finance.” Professor Zhang Chunxin further pointed out that to better study the impact of cutting-edge technology on the financial industry, Fanhai International School of Finance has established the Fintech Research Center, making full use of the academic advantages of Fudan University, Stanford University and the discipline advantages of other relevant institutions to provide more accurate investment advice and better risk management services for financial institutions, economic entities and regulators. Of course, the steady development of these projects is inseparable from the in-depth cooperation with the government and other industries in research and production.

In his speech, Professor Song Siqi conducted a thorough analysis of the rapid development of blockchain and cryptocurrency in 2018 and their future trends as well as the evolution and development of security tokens. He shared a variety of practical commercial applications of asset-backed financial innovation and the role of cryptocurrency in the development of the digital economy. Professor Song Siqi believes that as a think tank, it is necessary to provide reasonable legislative proposals on ICO and STO, building a communication bridge for the blockchain technology in China and that of the West; and the financialization of market will bring benefits to everyone. The Fintech Research Center at Fanhai is conducting in-depth research accordingly, including the financialization of real estate assets and the tokenization of infrastructure assets and other projects.

▲ Professor Song Siqi

At the round table at the end of the summit, around the application of blockchain technology in the field of financial compliance and how to strengthen market supervision as well as promote compliance transactions, Professor Zhang Chunxin led a deep discussion and talked about the industry shock caused by the blockchain bubble and  blockchain practitioners’ current needs of government policy.