| dc.description.abstract | The Internet Finance (Fintech) is mainly driven by technology innovation and application of Internet, mobile communications, cloud computing and big data analysis. These tech changes the way of capital flow, electronic payment, investment and other financial intermediation from the typical business model. As the internet functions without location and time constraints, The capital flow rapidly. The total turnover within the business model also keep breaking a new historical high.
In this study, we discuss the third party payment (electronic payment), P2P lending, and crowdfunding, along with their involved risk in China. For example: illegally gathering and possession of a pool of money, illegally transfer of cash and money laundering from crimes pipes. Personal data leaks from information system and is thus not safe. The imperfect credit environment leads to project frauds, and other illegal acts contributing to the associated risks. Our recommendations are: the third party payment (electronic payment) platform of capital pool should implement ＂earmarked accounts＂ trust management. And let P2P network lending platform by a third party to manage the funds. It shall not take deposit from the public, establish a pool of money or provide guarantee. The crowdfunding platform shall improve the funding providers and recipients of through their credit abilities. These all require the Internet financial institutions to store retain, and explore the data to help reduce risk.
The progress of the Internet Finance(Fintech) developments is active and large in China, where in Taiwan Internet Finance(Fintech) development is so slow and worrisome. While The Internet Finance(Fintech) is innovating, there can be many risks also accumulating. There are many regulations and cases from Internet Finance(Fintech) in China that shed lights for Taiwan. We hope this study is able to provide insight for future Taiwan′s Internet Finance(Fintech) development. Only with an open attitude and seeking to balance the security, benefits and risks will make Taiwan to win back the stage and to grab the opportunity. | en_US |