Suning Financial Research Institute reports: New technologies such as blockchain can change or even subvert existing payment formats

According to the Securities Daily News, Suning Financial Research Institute recently released the "Internet Finance Industry Research Report for the First Quarter of 2019", stating that the path of transformation of third-party payment institutions is thorny, payment +, B-side payment, financial technology, cross-border payment and other fields. There are no phenomenal innovations in small and medium-sized payment institutions. At the same time, more attention needs to be paid to the development of technologies such as blockchain, Internet of Things, and 5G. New technologies can change or even subvert existing payment formats.