(CCTV Finance " Economic Half Hour ") Internet of Things is commonly said to be the Internet where things are connected. For example, if you buy a box of eggs in the supermarket, you can use Internet of Things technology , scan a QR code and you can know where the box of eggs came from, what the situation in the farm is like, and even which chickens lay these eggs. So, what other changes can the Internet of Things bring to our lives? "Economic Half Hour" takes you to Wuxi Internet of Things Industry Research Institute to see the story that happened to Liu Haitao and his team.
IoT box actually recognizes the owner want to take it away? People will automatically call the alarm
Liu Haitao, chief scientist of the National 973 Internet of Things, director of Wuxi Internet of Things Industry Research Institute, is known as the first person in the Internet of Things. His team has won the design and dominance of international standard IoT architecture on behalf of China, giving my country the opportunity to overtake in the field of IoT. At the same time, Liu Haitao has another identity, he is the chairman of Perception Internet of Things Group. The box that looks very ordinary in front of you is called a perception box, just like a safe with automatic alarm function. Without permission, it will automatically alarm when it is opened or moved. In addition, this box has a magical function.
Dean of Wuxi Internet of Things Industry Research Institute Liu Haitao: My gait and behavior are my own characteristics during my walking. This box's IoT terminal can sense that I am not its owner.
This box is like a thinking person, knowing who is holding it. Because Liu Haitao was not authorized, Box realized that he was not allowed to hug him, so he automatically called the police. In order to confirm his statement, Liu Haitao changed to someone who allowed to hold the box to hug it, but it turned out that the box did not call the police.
This wooden box can tell who is holding you is because it uses the technology of the Internet of Things. Through various sensing technologies and communication means, objects are connected to the Internet to achieve remote monitoring, automatic alarm, control, diagnosis and maintenance.
Liu Haitao: There are many sensors on the Internet of Things terminal. The sensor is like a person's eyes, nose, ears and mouth. Then, through the sensor, it combines and coordinates various physical signals through the analysis of vibration wave signals, and then I can judge the occurrence of an event.
Liu Haitao worked at the Institute of Microsystems, Chinese Academy of Sciences in 1999, and started research on the Internet of Things with his team. In 2009, the Wuxi Internet of Things Industry Research Institute was established. In 2010, Perception Group was established. From a scientist to an entrepreneur, from studying the Internet of Things to promoting the Internet of Things. Although the Internet of Things is not well-known at present, something that happened in 2012 made him firmly believe that the Internet of Things has a huge potential market.
Liu Haitao: It was about 2012 when the Yizhou Steel Trade Incident in Wuxi, and a 1 billion yuan loss was lost. At that time, I was thinking: Our annual R&D expenses are only more than one billion yuan, and 1 billion yuan is enough for me for 10 years.
In 2012, Li Guoqing, the owner of Wuxi Yizhou Group Co., Ltd., took advantage of the loopholes in warehouse supervision and mortgaged different banks several times with the same batch of steel to obtain huge loans. In the end, the capital chain was broken, the boss ran away, and many banks suffered heavy losses. Since then, the steel trade incident has continued to ferment. In early 2014, Xiao Jiashou , known as the "King of Steel Trade", also suffered a break in the capital chain due to repeated mortgages and alliance guarantees. A series of events caused the Shanghai steel trade industry to suffer a catastrophe. In Liu Haitao's view, if banks could use IoT technology at the time, such tragedy might have been avoided.
Liu Haitao: Because I know Mr. Xiao, my first reaction is that he has suffered too much loss. Therefore, I think I should use the Internet of Things technology to help bank-related financial institutions reduce risks.
Li Sen's company mainly works as processing and sales agents for organic plastic sheets. Because the customer did not receive the goods in time, he received new orders but did not have enough funds to produce them, and the business fell into a deadlock.
Li Sen's warehouse still has a lot of goods. According to the current market conditions, a board can be sold for 3,000 yuan, and the inventory is worth hundreds of thousands of yuan. He wants to take these goods to the bank for pledge loans. But after traveling to several banks in a row, the situation seemed to be unsatisfactory.
Wuxi Jiusi Plastic Technology Co., Ltd. Li Sen: Because they say that the specific value of this goods is difficult to evaluate, and because it is not easy to supervise, there is no hope.
In fact, Li Sen encountered this situation. According to the provisions of the "Regulations on the Management of Bank Movable Property Pledge", as a financial institution, movable property that has not been recognized by the head office shall not be used as a pledge when granting credit to a company. In addition to considering the value of the pledged goods of the enterprise and whether it is easy to deal with in the later stage, it is also necessary to comprehensively consider the company's credit rating, debt-to-asset ratio, net cash flow, etc. to meet the bank's requirements.
Liu Haitao: I think your benefit is to solve other people’s pain points.
Liu Haitao said that his Internet of Things has been successfully promoted to some environmental protection institutions and some airports. But what he wants to solve the most is how the Internet of Things technology is applied in the financial field, especially through the Internet of Things to reduce the risks of financial institutions. However, this path is very difficult.
Internet of Things Finance Out of the Laboratory movable property can also be used for financing and pledge
Chen Min is the chairman of Hunan Fu'an Shuntong Logistics Co., Ltd. One of their company's main business is to provide guarantee services for the mortgage of movable property of enterprises. With more and more customers, Chen Min also has his own concerns. He cannot find so many warehouse managers who he trusts to take care of the company's pledge property. But the business is getting bigger and bigger, where can we find so many people we can trust? As he continued to explore, he heard about Liu Haitao's Internet of Things and immediately decided to cooperate with him and use the Internet of Things technology to replace manual supervision.
In March 2017, Chen Min came to Wuxi from Changsha to discuss cooperation with Liu Haitao. Even at this time, IoT technology is still a new thing. But Chen Min believes that the attempt to the Internet of Things is of far-reaching significance.
Chairman of Hunan Fu'an Shuntong Logistics Co., Ltd. Chen Min: According to statistics, the value of movable property in our country is about 70 trillion yuan, and now the real amount of financing may be less than 5 trillion yuan.
Before going into business, Chen Min was an employee of the Hunan Branch of the People's Bank of China and had a deep understanding of the bank. Such a large scale of movable property means a huge market, and he believes that there will be prospects in the future.
Chairman of Hunan Fu'an Shuntong Logistics Co., Ltd. Chen Min: supports financing for small and medium-sized enterprises to solve the problem of financing difficulties. This is what every bank has always wanted to do. Banks serve the real economy. I believe that every bank is like this, but it is true that the bank has difficulties. When the bank's risks cannot be controlled, how do you ask it to lend? Right, so if there is such a technology that can help banks solve their pain points and solve the problem of risk control of collateral, I believe that more and more banks will accept this new technology and new things.
Chen Min, who has a banking background, has greatly increased Liu Haitao's confidence, but he is currently facing a realistic problem that Internet of Things finance, as a new thing, does not meet the provisions of these existing credit systems at all. Therefore, banks have a wait-and-see attitude towards Chen Min's Internet of Things finance, and it is difficult to talk about cooperation. Even if I found Wang Wei, director of Wuxi Financial Office, I didn’t get much help.
Deputy Secretary-General of the People's Government of Wuxi City, Jiangsu Province, Director of the Financial Office of the Financial Office Wang Wei: Because after all, it is a market behavior, not a mandatory administrative means or policy order, the bank thinks that only by engaging in a win-win and market-oriented cooperation with you can this matter be implemented.
In fact, Liu Haitao understands the truth that Wang Wei said. The question he is most concerned about now is when will the cooperation with banks make substantial progress.
Liu Haitao: I have a real headache. We have invested in R&D expenses and built warehouses. Now, including the logistics system, but when can we do it properly, it is really difficult to create a timetable for this process. They first need to understand what your IoT industry is and what your IoT finance concept is.
It was already past 1:00 noon when he returned to the company from the Municipal Financial Office. Liu Haitao was having lunch in the office. After dinner, he wanted to convene a discussion meeting for R&D personnel and market personnel to improve his perception box. The scientific researchers just proposed to add a function to the box, but they were immediately opposed by the market department. Although Liu Haitao directly supported the scientific researchers' idea, he was still refuted by the market personnel on the grounds of cost and market. Colleagues in the marketing department said that this situation is common in perception. They can understand the desire of scientific researchers to seek innovation, but if they do not reject them immediately, their work will be difficult to carry out.
Deputy General Manager of Wuxi Perception Movable Property Supervision Co., Ltd. Wang Sirong: Because I always think that the direction of a company's research and development and technology must always cater to this market, but if you are completely immersed in this technology and want to achieve it perfectly and show its technology to the fullest, without considering the actual needs of the market, it is actually to put it bluntly, to put it bluntly, to build a car behind closed doors.
After more than half an hour of debate, the market staff finally made concessions. In fact, the marketing department employees have long guessed that this would be the result. They all say in private that scientific researchers are Liu Haitao's favorites.
Cao Hongbing, deputy director of the Product and Systems Department of Wuxi Internet of Things Industry Research Institute: I think he is still a scientist in his bones,
, but he should be said to be wearing the cloak of an entrepreneur.
In order to implement the Internet of Things technology in the financial field, Liu Haitao tried every means to poach talents and find resources, and participated in various meetings to talk about his ideas. Since it is so difficult, why did he have to step out of the ivory tower of scientific research and promote his technology in the market? Liu Haitao told reporters a secret hidden in his heart for thirteen years.
Liu Haitao: At that time, we were working on Pudong Airport. An anti-intrusion system could not be done. No matter how we did it, it was wrong, it always misreported, it always misreported, and it called the police if it had nothing to do. Maybe that time we did the experiment, there were more than 2 kilometers of experimental sections, and there were thousands of alarms and false alarms every day, so you couldn't make people survive.
Liu Haitao said that at that time, a leader was coming to accept the project, but the system that was running well in the laboratory was not debugged well. Faced with the angry customers, Liu Haitao's explanation did not work at all.
Liu Haitao: I am very unfair. I think I did a good job in the laboratory. He said that what I want is not the laboratory stuff, but what we want is the actual use stuff, and he said it very correctly.
In order to deal with the leader's inspection, Liu Haitao thought of a solution in desperation. Digging a trench on the ground to block the propagation of seismic waves, he passed the leader's acceptance in a fake way, but this became a hurdle that he couldn't overcome.
Liu Haitao: When I was doing it with my students, do you know how uncomfortable I felt? I think I am really a liar. I set an example for my students. His teacher is a liar. That day I really, I almost burst into tears. I have never made this matter public. I dare not, because I am afraid that others will call me a liar.
It was after that helpless fraud that Liu Haitao believed more firmly that scientific research results must be left out of the laboratory to play its greatest role. In order to gain recognition from banks and use his own Internet of Things, Liu Haitao took out 50 million yuan, loaned the money to the company, and became a guinea pig himself. This 50 million yuan is not a small amount for him.
Liu Haitao: My headquarters invests half of the R&D expenses, 100 million yuan, and 50 million yuan is invested in this. You will know my pressure. I let the bank see, I dare to take this risk, what are you afraid of!
Mi Yunfeng is the owner of a steel trading company, and the difficulty of loans has always troubled him. Like many small businesses, Mi Yunfeng only has goods that are considered movable by banks, and these cannot be used to lend to banks. Mi Yunfeng, who urgently needed money, found Perception Group under the introduction of a friend and took his goods to Perception Group for pledge. Finally, I successfully obtained a loan of 3 million yuan. Although 3 million yuan is not a big deal in the industry, for Mi Yunfeng at that time, the 3 million yuan was like his life-saving straw.
Mi Yunfeng: If I had no money later last year, it might be that my goods could not be delivered to the customer, which would affect his delivery. Because our contract was liable for breach of contract at that time, I might not necessarily stand here, it was so serious.
So how does Perception Group determine that Mi Yunfeng’s goods will not be taken away or mortgaged repeatedly?
Mi Yunfeng: This product is not something I can take if I want to take it. I can't take it. After I give it to him, he will give me an authorization. After I have an authorization code, I can only ask my driver to transport it away. You see, when I walk next to it, it will call the police. Look at this picture.
Liu Haitao introduced that such alarm information will not only be sent to Mi Yunfeng's mobile phone, but also bank and warehouse administrators will receive such alarm information.
Liu Haitao: With the Internet of Things, it cannot take it away. It must be authorized by the bank to take the goods away.
Liu Haitao's attempts to finance the Internet of Things are still advancing. His clients have applied for credit at Hengfeng Commercial Bank and Agricultural Bank of China. Liu Haitao has gone from a deputy director of a research institute who engages in scientific research with a stable salary to an entrepreneur who runs around looking for customers and discusses cooperation. He feels that his path is very tiring, and the belief that supports him to run around is that scientific research must be useful.
Liu Haitao: You have to use the theories you made. Only when problems are found during the actual use can we correct our basic research.
html March 23 is Liu Haitao's 49th birthday. His birthday wish has never changed since the birth of the company, that is, he hopes that the Internet of Things technology will be widely used as soon as possible.Half-hour observation: In-depth communication Haidaotian
Internet of Things technology, as one of the core technologies leading the development in the future, is one of the most eye-catching future industries in the post-PC era. After more than ten years of development, the Internet of Things is getting closer and closer to us. However, the application of the Internet of Things in the financial field is still to cross the river by feeling the stones. The transformation of scientific and technological achievements is a fresh business. Since it is new, there will definitely be bright highlights, but there will also be blind spots and problems. Scientists should not be too obsessed with their own technology, and the market should also be tolerant. It is best to establish common goals from the moment they come into contact, take a step back where they are good at, and communicate in-depth with each other. After all, who knows who are in the market and investing needs to maintain an innovative heart. Technology is the engine of the market. If the engine can work well, would you still worry about not running far?
(Editor of this article: Chen Yuyan)
