The huge demand for credit markets and sparsely separated data have caused difficulties in the credit investigation and risk control of financial institutions. With the development of the Internet and digital technologies, qualified companies have started various credit services, and the most popular ones are the social network big data credit rating. But how big is this role? Dr. Ding Zhuo, Chairman of Starbridge Data, a domestic startup company that uses artificial intelligence and big data to collect information, said: “Actually, social data credits account for only 5%-10% of the 360-degree portraits of users. For the assessment of the financial industry, these data cannot be used as a direct evaluation reference." The reason for this is because consumers' relationships on social networks are loosely coupled, rather than the tightly-coupled relationships formed in corporate institutions. On social networks, content is arbitrary, so it can only be supplemented with trustworthy data other than basic data and deep data. Recently, the United States's first-generation intelligent search engine Betterment announced the historical performance of the portfolio from January 2004 to June 2016, and combined with the data of the independent investment consulting company Asset Risk to evaluate the average return of investors. Among them, the performance of more than 30,500 Betterment portfolios was 88% better than that of human investment management. Overall, Betterment's portfolio risk and earnings performance fluctuations are roughly in line with market economic trends. Observing carefully, we can see that the ability to adapt to smart investigators is not strong, and the active learning ability of machine learning can be said to have not broken through human limitations for risk management and control. According to industry insiders, this weak ability to cope with risks means that the active learning ability of artificial intelligence has not yet been able to break through the limitations of human management. John Mahoney, Vice President of Goldman Sachs Global Investment Banking, shared a number of industry observations and forecasts at a financial technology summit. He divided financial technology companies with potential for success into 6 categories, each with simple comments and attachments. The corresponding case of China and the United States. In summary, there are six types of successful fintech companies: The first category is the process streamlining class, which provides a new method of data analysis to increase user stickiness while reducing costs. Representative companies are Metromile and Public Security. The second category is high value-added business automation, which uses advanced algorithms and computing power to provide customers with cheaper and more efficient (financial investment) options. Representatives have Betterment, and domestic PINTEC. The third category is to go to the intermediary category, changing or streamlining the traditional business chain, the United States has LendingClub, China is a bit melted and pat network. The fourth category is data efficiency, with a larger amount of data to serve the longer-tailed customers and niche markets, mainly digital credit and related retail banking. U.S. has Upstart, and China has 360. The fifth category is highly customized financial products that are suitable for specific scenarios such as SoFi in the United States and staged music and staged music in China. The sixth category is wealth management tools that provide consumers with some data tools or services for investment decision making. The United States has Credit Karma, China has Wecash and Bairong gold clothes Recently, the latest issue of "China Finance" launched the "Central Bank Digital Currency Research and Discussion" topic, recording the research results of the People's Bank of China Digital Currency Research Group on the development trend of global digital currencies and the issuance and operation of China's Central Bank digital currency. Then, in these studies, how did the opinions of the experts subvert the stereotypes? What is the concept of digital currency in the country? Yao Qian, head of the preparatory group for the Institute of Digital Currency Research of the People's Bank of China, pointed out that the core elements of the central bank’s digital currency system are one currency, two libraries, and three centers. Specifically, the system includes the following major components: Central Bank Digital Currency Private Cloud: The underlying infrastructure used to support the central bank’s digital currency operations. Digital currency: A string of encrypted digits representing a specific amount that is guaranteed and signed by the central bank. Digital currency issuance library: The People's Bank stores a database of central bank digital currency issuance funds on a private cloud of the central bank's digital currency. Digital Currency Commercial Banks: Commercial banks store databases of central bank digital currencies, either locally or on the central bank’s digital currency private cloud. Digital currency digital wallet: refers to a client in the circulation market where an individual or unit user uses the central bank's digital currency. The wallet may be based on hardware or software. Certification Center: The central bank centrally manages the central bank's digital currency institutions and user identity information. It is the basic component of system security and an important part of controlled anonymous design. Registration Center: Record the central bank's digital currency and the corresponding user's identity, complete the ownership registration, record the flow of water, complete the registration of the central bank's digital currency production, circulation, inventory verification and extinction. Big Data Analysis Center: anti-money laundering, payment behavior analysis, supervision and regulation index analysis, etc. Recently, Barclays Bank and an Israeli start-up company jointly completed the world's first trade transaction based on blockchain technology. Through blockchain technology, it completed the transaction process that traditionally required 7 to 10 days in 4 hours. The trade settlement was performed on the blockchain platform developed by Wave Corporation, a subsidiary of Barclays Bank, which secured cheese and butter products valued at approximately US$ 100,000 that were shipped by Irish Ornua Company to Seychelles Trading Company. Blockchain technology is equivalent to an electronic record and transaction processing system that enables all trading participants to track each transaction on a secure network without the need for third-party authentication. Baihas Baghdadi, Head of Global Trade and Working Capital at Barclays Bank, said, “We have confirmed the feasibility of this technology. This shows that the entire process is very friendly.†When the iOS 10 update is officially launched on September 13, there will be a special feature. Communication app iMessage also supports Circle Pay's Bitcoin wallet. The new version of iMessage allows developers to integrate their own applications into chat. In the previous beta, there were already many third-party platforms, including the Bitcoin P2P wallet Circle Pay. Circle Pay uses Bitcoin's underlying technology blockchain, allowing users to instantly transfer money to each other without any fees. Most importantly, Circle Pay users can directly transfer local currency to foreign friends, while the latter can directly extract the local currency. This is because Circle Pay converts the initial currency to Bitcoin. The funds will be transferred to the recipient's Bitcoin address through the blockchain, and if the other party does not want Bitcoin, it will be converted to the local currency again.
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Big Data Finance
Social network data credit, you guessed how effective? Fintech case
Intelligent yielding Betterment yields 88% higher than the traditional rate. What is the truth? 
Digital currency and blockchain
How do Central Banks view digital currencies? 
