White House Blog: From big data to blockchain, the future of finance has arrived

Rage Comment : This article is from a blog of the White House, written by Adrienne Harris, Special Assistant to the President for Economic Policy. The article believes that the future we can foresee is faster financial services. The era of Internet finance represented by blockchain has arrived. The White House held a special meeting to gather companies and thought leaders to discuss ways to maximize the benefits of emerging technologies. Although the theme of the meeting is the financial industry, the future of technology with the financial industry as the axis will connect many social fields together and promote each other's development; the high efficiency brought by blockchain is very consistent with the technical needs of the highly connected era.

Translation: Annie_Xu

Imagine if your phone could make financial decisions for you, from deciding which points program is the most beneficial to comparing mortgage options; or if an app filled the gap between getting work done and getting paid so you weren't exploited by payday loans. Imagine if you, as a small business owner, could receive online payments from anywhere in the world in minutes; or if you could send money to your family instantly and automatically.

Technology has always been part of financial services, from ATMs to securities trading platforms. But increasingly, technology is changing not only the financial services industry, but also the way consumers and business owners relate to their finances and the way institutions in the financial system operate.

Recently, we convened stakeholders in the Internet finance ecosystem to the White House, including traditional financial services institutions, Internet finance startups, investors, thought leaders, and policy makers to discuss how Internet finance can transform the core of key economic policies. From consumers' financial status to managing and developing small businesses; from cybersecurity to promoting national prosperity; from big data to blockchain; we spent the whole day exploring areas where collaboration between industries and between the public and private sectors can bring financial well-being and economic prosperity.