The 6th Shen Jiwen Institute of Financial Economics Conference will be held in Singapore

Crazy Commentary : As the blockchain technology is sweeping the world, Singapore, as one of the four Asian tigers, has also put the promotion and application of blockchain on the agenda. The "Sandbox" program launched by its government has promoted the development of blockchain technology in Singapore. Industry giant IBM will also establish a blockchain innovation center in Singapore. Behind a series of actions are important layouts for blockchain. As a local country, China will learn from Singapore's experience and combine it with its own to develop blockchain technology with Chinese characteristics.

Author: Amber Dingding

With the advent of new technologies such as blockchain, big data analysis, social networks and mobile payments, technological innovation, especially cost reduction, has enabled people who once did not have bank accounts to begin enjoying financial services. Financial inclusion will be the focus of the next stage of development of banks and finance. In this field, financial institutions are facing increasingly fierce competition, mostly from non-bank institutions, such as Internet companies, telecommunications companies and start-ups in the field of financial services that spread to the public through payment platforms. Among them, the more famous companies are Alipay (Ant Financial), M-Pesa, Tencent, Google and Apple.

According to reliable sources, the 2016 Sixth SKBI Conference was held at the Singapore Management University on August 18, 2016, jointly organized by the Singapore Management University's SKBI Institute of Finance and Economics, the International Monetary Fund (IMF) and the Monetary Authority of Singapore (MAS). As one of the "Four Asian Tigers", Singapore also attaches great importance to the development of Fintech.

In June this year, the Monetary Authority of Singapore (MAS) launched the "Sandbox" mechanism for FinTech companies, that is, any Fintech company registered in the sandbox is allowed to engage in business that conflicts with current laws and regulations with prior filing. And even if the relevant business is terminated by the authorities in the future, the relevant legal liability will not be pursued. Through this "sandbox" mechanism, the government can carry out a variety of financial innovations within a controllable range, and entrepreneurs can also try various related innovative businesses with confidence. In addition to the Singapore government, the British government is also trying a similar "sandbox" system for the Fintech industry. The head of the Monetary Authority publicly stated that all kinds of financial innovations are very welcome, even if they conflict with current laws and regulations, as long as they are filed in advance and the business is carried out under their guidance.

It is reported that IBM plans to establish its first blockchain innovation center in Singapore, focusing on the research and development of blockchain and innovative technologies, mainly to use Fintech technology to build Singapore into a smart financial center. This is also the first time that IBM has cooperated with the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore to network Singapore's technical talents for the Blockchain Innovation Center. In addition, IBM will jointly develop the application of enterprise blockchain, network security and cognitive budgeting technology with the Singapore government, industry and academia.

The 6th (2016) Shen Jiwen Financial Economics Research Institute Conference will focus on the topic of "Internet Finance and Financial Inclusion and How the Embryonic Financial Technology Strengthens Financing Channels", with the main purpose of exploring the increased use of financial technology and how it can enhance financial inclusion. At that time, experts from various regions (including China, Japan and other Asian countries) dedicated to technology and inclusion will give keynote speeches, such as currency digitization and policy challenges, blockchain technology and its application to financial inclusion, and conduct in-depth panel discussions.

The conference is scheduled for two days, and roundtable meetings and panel discussions will be the highlights of the conference. According to the meeting schedule, Ant Financial Chief Strategy Officer Chen Long will give a keynote speech on August 18, which will also include lessons learned from financial inclusion, potential challenges currently faced by Internet financial risk reduction and inclusion, and discussions and exchanges on the popular blockchain technology. In addition, on the 19th, China and Japan will hold discussions on "The Rise of Internet Finance and E-commerce" and have in-depth exchanges on topics such as virtual currency, future payments, central bank digital currency and related policies.

In addition, the organizers have invited many industry experts, scholars, entrepreneurs, investors, financial inclusion developers and regulators to participate, which will provide the industry with an opportunity to gain an in-depth understanding of this field and help their institutions explore ways to develop and adopt this technology, so that they can seize new opportunities.

Asia Pacific Research Center, Stanford University Asia Pacific Research Center, Indian School of Business, and Xinyue University will all be academic partners of this conference. ChainB will also serve as a cooperative media of this conference and pay close attention to the convening of the conference.