<h4><strong>Chapter 1124 – Inte Bank</strong></h4>


    “Brother Ki, this payment software is what makes me confident inpeting with other MNCs. You know about the finance industry, but do you know what Inte Bank is?”


    In Feng Yu’s previous life, Ma Yun’s Alipay is the world’s third-biggest Third-party payment tform. Its scale and number of users are the highest, and at the same time, they had manypetitors. That means many people can see the high profits from third-party tforms.


    In this life, Third-party payment tforms will appear earlier. They will be used on eBay, Amazon, Alibaba, and Pr Bear Intepanies. Feng Yu will have the opportunity to gain control over three major markets, North America, China, and Eastern Europe. His payment software will be much better than the payment tforms in his previous life.


    In Feng Yu’s previous life, Yahoo, Softbank, and Ma Yun’s team jointly developed Alipay’s technology. When Ma Yun was the CEO, he separated this Alipay and transferred to his ownpany. This decision was controversial and caused a dispute between the three parties.


    Yahoo’s share prices fell, but Alibaba’s share prices continued to rise because of Alipay. Alipay’s estimated worth is much higher than Alibaba’s group of websites and became its most valuable asset.


    Kirilenko thought to himself after hearing Feng Yu mentioned Inte Bank. What’s so difficult to understand about it? It’s just online banking.


    “Feng, I know about this. It is just like Nasdaq, where all the transactions take ce electronically. Stocks are also financial instruments. Then the stocks on Nasdaq are all Inte Bank, right?”


    Feng Yu took out two cigars and passed one to Kirilenko. He took a puff and said. “What is said is also considered Inte Bank. But the Inte Bank I am talking about is very different. Inte Bank is not only using inte technology on traditional financial instruments. Our Inte Bank will take ce online. Regardless of the market, services, products, regtions, etc. will all be online. There will not be any physical counters, and everything will be online. There will be no face to face interaction, and even if you hire a broker, allmunications will be conducted online.”


    “Feng, this is not right. If I hired a broker and themunications are online, how will I sign the contract? How am I going to pay for his sry, and how can I trust him?” Kirilenko retorted.


    “This is the time where our Third-party Payment tformes in. We will provide a credit guarantee and conduct credit ratings. The contracts can be downloaded from the inte, and both parties can verify through videos. Of course, both parties will need to print out the contract during the initial stage and signs it. But they will not need to do that in the future.”


    When the real-name system is implemented, many agreements and contracts no longer require signatures. They only need to click the confirm button, and it will bepleted. For example, a stock trading mobile app only requires the user to take a video of themselves and upload a picture of their identification card. No signatures are required, and it is legally binding.


    “Using videos to confirm?! The video quality is not good.” Currently, online video quality is not good because of inte speed. Some ordinary users have no ess to this technology.


    “The inte is developing very fast, and you cannot use the technology now to judge the products three yearster. Mobile phones can take pictures now. Have you thought about what mobile phones can do three yearster?” Feng Yu waved his Wind and Rain Phone and said.


    “You are right. Does that mean online videos will bemon three yearster?”


    “In developed countries, it will not be a problem. Even the countries without good inte can allow the majority of their people to go online. Also, after this Inte Bank is introduced, inte development will speed up. It might be faster than what we expected.”


    “Then what do this Inte Bank servicesprise of? What products are there?” Kirilenko asked.


    “We will offer whatever traditional financial institutions offer. For example, investing and financial nning, savings, withdrawals, loans, currency exchanges, etc. We can also provide services that traditional financial institutions cannot offer. For example, crowdfunding.”


    Crowdfunding? What is that? Asking everyone to provide funds to one person? What’s so special about this? The traditional financial institutions do have this service.” Kirilenko replied with a ‘don’t think I don’t know about this’ expression.


    “You are right. The traditional financial institutions do have this service. But let me ask you. Can a traditional financial institution raise 1 million from 1 million people?”


    “What? 1 million USD from 1 million people? That means each person has to contribute 1 USD? Who is so free to travel to donate 1 USD?”


    “That’s right. No one in their right mind will travel to the bank to invest 1 USD for apany. But what if it is online now? All you need to do is to click on your mouse and enter the third-party payment code. Everything will bepleted within a minute.”


    Feng Yu is not making up this ‘1 million shares to raise 1 million USD.’ In his previous life, a writer wants to publish a book. But no publisher is willing to publish it as the contents are too sensitive, not appealing, etc. But at that time, the writer started crowdfunding. The writer’s fans contributed 1 RMB each and funded this writer to publish this book.


    To the fans, 1 RMB is nothing, but with all the fans giving 1 RMB each, that is a big amount. Some authors even used this method to turn their novels into video games and TV series.


    It is too troublesome to go to the bank to donate 1 dor. But if this transaction is conducted over the inte, it will be much easier.


    Some small-time singers want to release their albums, new directors asking for funding for their new movies, and even roadside stalls asking for funds to set up a shop. Many failed, but many others seeded.


    This proves that Inte Bank can do what traditional financial institutions cannot.


    These are only the tip of an iceberg. There are too many ways of making money through this Third-party payment tform. Just look at those bankers from traditional financial institutions. Which one of them had lost money?


    The MNCs from China and all the major banks in the world are on the top of the list. But this Third-party payment tform will be an institution that can rival and even exceed them!


    “Brother Ki, Inte Bank is more convenient than what you can imagine. For example, if you want to get a loan and have good credit ratings on our tform. Our tform can issue the loan immediately. We can even introduce Inte Bank instruments for the ones who like to invest and profit from there...”


    As Feng Yu describes what Inte Bank can do, Kirilenko’s eyes got brighter. This Inte Bank is like a treasure cove. This Third-party payment software must be developed immediately!


    <i>Trantor’s notes:</i>


    <i>Real-name system</i>