P2P has mushroomed in the market from 20 13 to 20 14. In 20 15, after the outbreak of Internet financial fraud cases such as e-renting treasure, the state frequently issued documents to improve the rectification and supervision of the whole industry. In fact, the development of this industry in China has been restricted, either because the government supervision is too strict or the domestic liquidity is not enough to support their development. On the other hand, more than half of the more than 20173,000 P2P platforms have closed down, and the whole industry has been shrouded in the cloud of crisis.

To put it bluntly, P2P is online lending, and the complexity is actually peer-to-peer online lending. As an intermediary of third-party financial institutions, P2P cannot directly or indirectly absorb deposits, nor can it illegally raise funds. Therefore, these companies do not have their own pool of funds, that is, they do not have the basic conditions for deposit reconstruction. It does not belong to the banking system and has no ability to digest the huge risks from society. At home and abroad, P2P is valued because it is expected to impact the social credit system with banks as the core. In view of the fact that it is not illegal for the annualized rate of return of private lending to be below 24%, the interest rates proposed by online lending companies are often very high, and many companies will take risks and absorb funds with high interest rates. However, for third-party financial institutions like P2P, it is not an exaggeration to actually introduce many regulatory measures.

In the early days of P2P activity, a large number of unqualified and unregulated enterprises fought their own battles, and there were not a few P2P companies involved in illegal fund-raising. By promising high returns, they let investors taste the sweetness early and attract more people to join. When the fund disk reaches a certain amount, the platform side begins to plan to run. It is these irregular companies that have harmed the money of relatives and friends.

The problems exposed here directly point to the special "Qian Shengqian" industry of finance. The crisis brought by capital and disorderly free development is very terrible. Without state supervision, many P2P companies can maintain the appearance of prosperity. However, these companies have already made a fortune, but they are just unwilling to delay the crisis. Once the country starts to track down related enterprises or rectify industries, these companies are bound to bear the brunt. At this time, greedy and disorderly private capital has paid the price.

In addition, our country's credit system has been imperfect, and the social credit system is not perfect, and personal credit data is in the hands of big banks and companies. Without the support of technology, professional knowledge, talents, channels, risk control and data analysis, P2P can only be cheated.

Where is the profit point of P2P? If P2P is done according to the intermediary role mentioned above, then these platforms cannot charge interest and contact funds, and the profit point is only the service fee and intermediary fee of both borrowers and lenders. However, can these pumps meet the normal operating costs of the platform? Probably not enough!

Many platforms have turned their attention to cash loans, small loans and blockchain technology.

The cash loan business of online lending platform can only be financed through asset securitization except using its own principal loan. The qualifications required for asset securitization are not available to online lending companies. They may seek financial intermediaries such as trusts and brokers to intervene in this matter. The whole process is complicated, and non-professionals may be confused, so I won't say it here for the time being.

In short, in order to increase the so-called security and risk management and control, another technology targeted by the online lending platform may be blockchain technology. However, according to the cooperation related to blockchain I got at school and the information I learned, there is no perfect and reasonable scheme to support P2P companies to make cash loans. Blockchain technology has high technical barriers. Although it is highly compatible with P2P, many times these technologies are just masks, and whether they have practical application value remains to be considered.

The American subprime mortgage crisis in 2008, which is close at hand, reminds all countries of the importance of financial supervision. The subprime mortgage crisis in the United States could not have been borne by itself, but the world is in the dollar system. After the American crisis implicated the whole world, the Federal Reserve used its own energy to tide over the crisis, and the real loss of the United States can be said to have shared a lot.

What if this crisis falls on China? I can't imagine! ! On the other hand, there are many P2P fraud incidents in China, so China should always sound the alarm of financial supervision to prevent related risks in advance.