On the first day of the Bund Conference, the story of "one wallet travels the world" as China moves towards the world

Release time:Apr 16, 2024 18:24 PM

"Welcome to Shanghai, use my Malaysian 'Alipay' to order a cup of Yunnan coffee for you!" On the opening day of the Bund Conference on September 7, an engineer of Ant International Business Group greeted the guests at Inclusion Coffee. He warmly invited the guests to taste Yunnan coffee with his Malaysian electronic wallet Touch'nGoWallet on his mobile phone.

After taking a sip, Mohammad Buddy, President of American Express Global Network Services, couldn't help but give a thumbs up, praising this high-altitude coffee from Xishuangbanna and China's overseas financial technology.

On September 7th, 2023, the Bund Conference officially opened at the Huangpu World Expo Park in Shanghai. Whether it's forums or technology exhibitions, the "one wallet traveling the world" that Chinese people are already familiar with is leading the global digital financial revolution.

Frequent likes: Digital Wallet Becomes a Gold Sign for Going Global

"In the past, Chinese consumers liked to shop for foreign coffee overseas, but now foreigners are also starting to enjoy drinking Chinese coffee. Chinese specialty coffee is not inferior to foreign coffee!" Yunlan Coffee CEO Gong Kaiqin became a barista on site and did not forget to "promote" a Yunlan coffee produced in Menghai, Yunnan. Previously, Yunnan coffee beans have been sold to Australia, Japan, and New Zealand through foreign trade merchants. This year, they will sell Chinese coffee to more countries such as the United States and France through Ant's Wanlihui cross-border payment service.

"What are the characteristics of digital payment innovation and how to deeply integrate into the new model of economic growth?" At the main forum of the Bund Conference, Zhang Lijun, Managing Partner of PwC China's Regional Economy and Finance Industry, raised a series of questions. In the current context of setbacks in economic globalization, the answers to these questions may be hidden in this cup of coffee.

China's digital payments are among the top tier globally, and the financial technology behind them has become a golden signboard for digital wallets to go global.

"I am very much looking forward to working with Alipay+to enable Thai users to 'travel the world with one wallet'," said Moxini Nakapanant, co-chairman of TrueMoney in Thailand. China's emerging security risk control capabilities are helping Southeast Asia cope with the challenges of new financial fraud. "Financial service innovation needs to be tailored to local conditions, and China's unique large market has become the global starting point for mobile payments." Mohammad Buddy also stated that China's mobile payments can enable people from different countries to achieve cross-border payments using familiar payment methods. "It looks like just a QR code, but what is not visible is a series of technical capabilities such as precision machine learning and intelligent risk control." He hopes to cooperate with Chinese partners in the future to innovate more products and services.

At the Bund Conference Insights Forum on "Exploring the Next Generation of Security Intelligence," Sam Susaipina, Technical Director of the Indonesia "Employment Card" Special Project Team, also praised China's digital payment capabilities.

The "Employment Card" program in Indonesia is an online vocational training program led by the Indonesian government. To encourage young people to actively learn, the Indonesian government has set up a total prize pool of 30 trillion Indonesian rupiah to distribute scholarships to eligible students.

It is understood that the "Employment Card" program has specifically applied China's digital identity authentication technology to ensure that scholarships are distributed to accurate student accounts and prevent fraud and other issues. Sam Susepina said: "China's mobile payment is at the forefront of the world. Ant ZOLOZ's financial level identity security technology allows students to complete the registration and certification process in two minutes, which not only eliminates the cost of manual review, but also accurately identifies false identities." Up to now, this technology has helped 17 million people achieve online vocational training, and even leveraged the development of local mobile payment, becoming one of the characteristics of the the Belt and Road digital achievements.

Popular: Experience the Current and Future of "Black Technology"

On the first day of the opening, the popularity of the technology exhibition was as hot as the weather. On the morning of the 7th, the reporter arrived at the exhibition area and wanted to experience digital wealth management services, but found that the appointment time for the Future Financial Services Concept Store had already been scheduled for 5pm. The staff of the Financial Education Space Station exhibition area told reporters that perhaps due to the large number of visitors on the opening day, they hardly rested from morning to noon.

Why can we attract so many visitors? On the one hand, it is due to the rich content of "black technology" in the exhibition of the Bund Conference, and on the other hand, it is also because the exhibition forms are diverse and interesting, allowing visitors to experience the power of technology in interactive games.

This year's Bund Conference has a technology exhibition venue of approximately 8000 square meters, including two exhibition areas: "City Heart" and "City of Tomorrow", with different focuses.

The "City Heart" exhibition area focuses on showcasing innovative breakthroughs and industrial practices in cutting-edge technologies such as artificial intelligence, blockchain, and privacy computing. Exhibitors include well-known domestic and foreign fintech enterprises and universities such as Nvidia, Ant Group, American Express China Joint Venture, Zhongan Insurance, Fudan University, and Tongji University.

The cool technology and exhibits here will change viewers' perception of technology. For example, in the impression that brain computer interface technology is very distant, but in the exhibition area, visitors only need to wear a special helmet to recognize the waveform characteristics of brainwaves and experience identity verification using brain patterns. The staff of Ant Tianji Security Laboratory told reporters that this simple brain wearable device is actually the embryonic form of large-scale application of future brain wearable devices. In the era where everyone will bring their brain machines in the future, the brainprint nucleus will be as important as facial recognition and fingerprint recognition today.

The exhibition scenes of "Tomorrow's City" are mostly familiar to ordinary people, such as future retirement apartments, pet homes, smart villages, etc. This exhibition area aims to use an immersive way to allow visitors to experience new possibilities in the city, industry, and life driven by digital technology.

The familiar scenes have become vastly different due to the empowerment of digital technology. For example, in an unmanned consultation room, visitors only need to stand or walk in front of the equipment to obtain preliminary data on their physical condition and activity ability. They can play a simple game in front of the screen and complete a rapid screening of the risk of Alzheimer's disease in just 3 minutes. At Pet Home, cats and dogs of different sizes and appearances can be identified by AI for their breed, age, health status, and even their mood values. Once abnormal health conditions are found, pet owners can also provide online consultation through AI intelligent consultation services.

This creates a strong contrast: when visitors visit the "City Heart" exhibition area, they are looking up to the development of science and technology, while when they walk to the neighboring "City of Tomorrow" exhibition area, they can feel the convenience brought by technology as users.

The organizing philosophy of the Bund Conference is precisely embedded in it. Starting from the high point of China's financial technology, the Bund, this article explores the changes that technology has made to daily life, commercial economy, farmland and factory areas, and humanities and arts, reshaping social life with technology and exploring the future with technology.

Coincidentally, the exhibition hall of the Bund Conference is located at the China Shipbuilding Museum of the World Expo Park, which was the former site of the Jiangnan Shipyard. More than 150 years ago, China's industry set off from here and headed towards the starry sea. The current Bund Conference is being held here to showcase the direction of the future to people with the power of finance and technology.

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