Baidu, which has great ambitions in the field of electronic payments, will never give up such an opportunity.

For Madoff, Baidu is a better partner, although Baidu Pay is not comparable in the field of electronic payment, but Baidu has traffic, and there is a lot of high-quality and cheap traffic.

Madoff easily saw through the essence of the Yue Bao game, that is, NewPay has the largest and best quality traffic in the field of electronic payment.

Once they reach a cooperation with Baidu, Baidu's large number of high-quality traffic will be guaranteed with the blessing of "good products".

So as soon as George discussed the matter with Madoff, he almost suppressed the joy in his heart and agreed.

And the private remuneration that was originally promised to Zhou Xin is now given to George in the same form, George Reyes, who has obtained a verbal promise from Madoff as an intermediary that the difference in the profits of Madoff's financial products will be used as his personal reward.

This also gave George more motivation to push for this, and in his opinion, what reason should Madoff, Baidu and himself not do it?

No, it should be a win-win situation for the four, and Baidu users can also buy high-interest financial products that were originally out of reach.

When Zhou Xin's eyeliner in Silicon Valley, that is, Xinxing Investment (Ameriken), sent the news back, he was happy in his heart, and he also smelled the fate of the same destination.

Zhou Xin himself wants to use NewPay to help Madoff's Ponzi scheme last for a few more years, and at the same time let more Amerikens step into this pit, causing more serious consequences in the future thunderstorm.

But Peter Thiel, a law professor and investor, realized the danger and resolutely disagreed with Madoff's cooperation.

Zhou Xin guessed that Madoff would go to find cooperation, and cooperation, which could play the role that Zhou Xin wanted, but the effect would be a lot worse, Zhou Xin had already made such psychological expectations, and the result gave him a surprise, that is, Baidu was over.

As the Internet company with the most traffic today, Baidu's position in the industry is undoubted, and they can influence customers far more than NewPay.

Because it is the early stage of the mobile Internet, no matter how rapid the development of electronic payment is, its ceiling is still far lower than that of search engines, as long as you go online, you need to use search engines.

When you use Baidu's search engine to search for financial news, and it pushes Baidu's self-operated wealth management products with an interest rate of up to 10% to you, how many users can resist the temptation?

Ameriken and Chinese are both human beings, and everyone is the same in human nature, and there will be no essential difference in the pursuit of interests.

Replaced by Huaguo 16 years later, when Alipay's Yue Bao killed all sides, Baidu and Evergrande Wealth jointly launched a wealth management product with an interest rate of up to 10%, at that time, Evergrande at the peak and Baidu who was in decline stood for this financial product, how many users can resist the temptation?

After reading the email, Zhou Xin got up to look at the greenery outside, and had a hunch in his heart that the cooperation between Baidu and Madoff would bring more serious consequences as expected.

Because Madoff's scam was able to last until '08 in the original plane, and now that new money has been added, the scam will only last longer.

When Baidu enjoyed the benefits of the cooperation with Madoff, with the help of this wealth management product to achieve rapid growth in the field of electronic payment, they could not resist the temptation, and will only use more efforts to promote it in the future.

At the same time, when the users who buy Madoff's financial products in the first year get the benefits, they will only attract more users to buy, and under the multiple spiral effect, the impact of Madoff's financial products in the public group will be much greater than that of the original time and space.

"Mr. Zhou, it should be the first time to attend our financial summit, and the speech in the morning of this kind of meeting is usually a little boring because it is too official."

Ameriken is facing the first year of Internet finance brought by Zhou Xin, and Huaguo at this time is holding the Huaguo Financial Summit in the Pearl Hall on the seventh floor of the Shenhai International Conference Center.

This financial summit is also known as the World Securities Market Summit, and a large number of bigwigs from major national stock exchanges have been invited to attend.

Zhou Xinhui participated because Shen Hai and a certain bigwig surnamed Chen were warmly invited, and they really wanted to hear Zhou Xin's understanding of Internet finance and whether Huaguo needed to loosen restrictions in this field.

The big guy surnamed Chen is the president of China Development Bank at this time, Zhou Xin's biggest impression of this person is that he has a lot of energy, when Jack Ma bombarded the financial system of China at the Bund Financial Summit, the big guy surnamed Chen was on the scene, and after the uproar caused by the meeting, photos of Jack Ma going to meet the big guy surnamed Chen and Zhou Xiaochuan circulated on the Internet.

Zhou Xin grinned sideways: "It's okay, the main thing I think is that I'm going to go up and talk about it soon, and I'm still familiar with the manuscript."

The manuscript was written by Wu Shiqiang for me. ”

The summit consisted of two days, and the morning of the first day was all speeches, and after the deputy governor of the People's Bank of China finished speaking, it was Zhou Xin's turn.

For the participants present, they obviously paid more attention to what Zhou Xin said, because what the vice president said was nothing new, it was completely an old bottle of old wine, "strengthening the construction of the financial legal system and preventing systemic financial risks".

To be honest, 20 years later, China's prevention of systemic financial risks does not depend on the construction of the legal system, but

didn't talk to the big guy for a few words, it was Zhou Xin's turn, Zhou Xin didn't want to write a speech, and he didn't dare to play completely freely on such an occasion.

What if he doesn't keep his mouth shut, what if he squirts at Huaguo's financial mechanism like Jackma, although he can bear the consequences, but he can cause less trouble or less trouble.

Therefore, Zhou Xin still asked Wu Shiqiang to write a manuscript for him, and whether he will use it is another matter.

Wu Shiqiang in China, the news of Internet finance is all the news and some investigation reports within the emerging investment, and he does not know much, he can only say that he has been with Zhou Xin for more than half a year, and he knows Zhou Xin's views on Internet finance, and he can write it hard.

"Good morning, everyone, it is the first time to participate in such a grand summit in the financial field, and my achievements in the financial field are far from comparable to those of the industry veterans present.

At that time, when President Chen found me, he asked me to talk about my understanding of Internet finance, and said that we would give a class to these turtles, saying that everyone is a turtle, and if you feel uncomfortable, look for him. ”

After listening to the boring stuff just now, when I listen to Zhou Xin's speech, I will feel like the first torrential rain in the early summer that has not rained for a month.

The applause that the audience had heard when Zhou Xin appeared on the stage sounded again, but there was no laughter, and everyone was still more serious.

Zhou Xin continued: "In the financial field, you are all my predecessors, and to be honest, the only finance-related work I have ever done is to buy it and sell it, and I will only do these two actions, buy and sell.

Whether it's selling Quora or buying Apple and Nvidia, the price is at my psychological level, so I choose to trade, and I will only do this trick.

If the topic is changed to Internet finance, then I still have some thoughts in it. Because NewPay launched Yu'e Bao, Yu'e Bao has managed more than $10 billion in assets in just three months, becoming the world's largest currency fund.

This scale sounds huge. Zhou Xin paused: "Of course, it is indeed very big.

But in fact, in order to operate this financial product well, we build the core middle platform, computing costs, etc., it is not profitable.

Because the scale of Yu'e Bao is too large, our risk appetite is extremely conservative, so the underlying assets we can choose are limited, and in order to make the user's return as high as possible, we can't charge too high a fee.

In addition, such a large amount of money comes from tens of millions of different users, and we need to show them the benefits in real time, deposit and withdraw at any time, which requires extremely high server and computing power in the background.

Therefore, Internet finance seems to be directly connected to users from enterprises through the means of the Internet, reducing a large number of intermediate links, and seemingly saving the cost of intermediate links, but its cost in the middle platform far exceeds that of traditional financial models.

I like to call this cost the cost of computing power.

From the birth of Yu'e Bao to the end of other major electronic payment companies and the beginning of a variety of financial products, this stage is at best the initial stage of Internet finance, which has only changed the sales side.

NewPay is about to make the next attempt, which is to launch a loan business, which we are currently internally named Huabei, and we will cooperate with the three major credit bureaus of America, Experian, Alphak and TransUnion."

There are a lot of people to speak in the morning session, and everyone can get either 15 minutes or 25 minutes, Zhou Xin and the big guy in the pedestrian line are divided into 25 minutes, and everyone else is 15 minutes, so what they can talk about is very limited.

Zhou Xin just briefly talked about what NewPay has done before, what it will do next, and what Internet finance can bring to users and the industry.

After he finished speaking and returned to his seat, the big guy said, "Mr. Zhou, what you said is very good, but there is one thing I want to correct.

You don't just buy and sell, you also know about other financial businesses, and the supply chain finance model created by NewPay in China has been the object that major banks need to learn from until today.

The model, including UnionPay, was also built at your suggestion, and UnionPay is the sword of Damocles for many people. ”

UnionPay's state-owned enterprise fund supervision system was developed at the suggestion of Zhou Xin, first piloted in Pengcheng, and then slowly rolled out to the whole country.

When Pengcheng piloted, who came up with this set of things was still a secret, and it was no secret that it was Zhou Xin's idea after it was implemented across the country.

And even if it is a secret, the identity of the big guy surnamed Chen can completely know this kind of secret.

UnionPay was very useful in the early days, but the role of this mechanism gradually weakened, because as long as the system is built by people, there are loopholes, and there is UnionPay supervision, I don't make money from the enterprise itself, I let the cooperative private enterprises send me money.

If you supervise my bank account, then I will ask for an anonymous bank account of an overseas bank, or even a bank account directly, I want an overseas trust, and the beneficiary will be written as a family member.

As long as you want to make things happen, there are always more ways than difficulties.

The role of UnionPay in the design is weakened, and it can only be supervised to small shrimps, and individuals with slightly greater power cannot be supervised.

Therefore, by the end of 2004, UnionPay was given new rights and responsibilities, it obtained the first batch of electronic payment licenses in China, and UnionPay is also transforming.

"NewPay's supply chain finance is engaged in by subordinates, and I don't know what supply chain finance is when I make chips.

UnionPay doesn't need any financial knowledge at all, that's a matter of common sense, and if you grasp the ins and outs of money, you can keep it from messing around. Zhou Xin explained.

"Hahaha Mr. Zhou is indeed a wonderful person, but it is good enough to only buy and sell, to put it bluntly, isn't finance just buying and selling?

The difference between a master and an ordinary person lies in the grasp of the point in time. ”

The big guy changed the topic: "Mr. Zhou, do you think Huaguo now has the foundation to engage in Internet finance?"

The Internet industry is one of the few industries that is not far behind European and American countries, is it possible for us to make some products with Chinese characteristics in the field of Internet finance? ”

Zhou Xin thought to himself, the Yue Bao I made at Ameriken is a Chinese characteristic, otherwise how could Ameriken's financial products be named after Bao.

Because of NewPay, the electronic payment software engaged in Ali is directly called AliPay, the English name is AliPay, although its original English name is also AliPay, and now the difference is that Alipay's Chinese name is Alipay.

Of course, Ameriken has also come up with its own characteristics, such as Madoff's financial products, all kinds of hedge funds with the highest return of more than 200% also dare to sell on the platform, NewPay has a bottom line does not mean that it wants to survive, and small electronic payment companies that want to finance have a bottom line, in order to attract users to do a good job of data, pull to financing or sell the company, they dare to sell anything.

"I think Huaguo has the soil for Internet finance, but it needs to be in terms of network, user acceptance, supervision and so on.

Electronic payment was only landed in China at the end of the previous year, and last year was a period of rapid growth, but according to NewPay's background data in China, most of NewPay's payments are in first-tier cities.

Second-tier cities like Jiangcheng, Jinling, and Chang'an have very few users of electronic payments, and the only second-tier city that performs well is Hangzhou, which is also because of Alibaba's presence in Hangzhou.

Now the Internet finance is too weak in the user base, Ameriken has been precipitating in the Internet field for more than ten years, and electronic payment has five years of user accumulation.

Personally, I don't think there is a need to be in such a hurry, what Huaguo needs to do now is to build the infrastructure and then consider further expansion.

For example, optical fiber network, 3G network, logistics system, user base, etc. ”

The big guy quickly grasped the point: "Logistics system? What is the relationship between Internet finance and logistics system? ”

(End of chapter)