On May 16, executives from Circle including Jeremy Allaire, founder and CEO, Sean Neville, co-founder and President of Product and Operations, and Jim Breyer, Director, presented at the Tsinghua PBCSF Forum Internet+ Series and joined discussions on digital currency in the Fintech industry.
Circle, founded in 2013 and based in Boston, is a peer-to-peer payment technology company utilizing bitcoin and traditional fiat currencies. Under the open internet standards and protocols, and with the implementation of block chain technology, the company makes online payments easier, safer and more convenient. Circle Pay, Circle’s mobile payment platform, allows users to hold, send, and receive traditional fiat currencies. As Sean introduced, users can also personalize their money message with a picture and emoji. Currently, this App provides USD, GBP and bitcoin currency exchanges and international money transfer services at a lower cost.
Jeremy spoke highly of China’s innovation and applications in the internet area. With IDG capital becoming one of Circle’s strategic investors, the company is planning to open offices in China and launch products for Chinese customers. According to Jeremy, Circle will focus on developing new products, further expanding the market and improving user experiences. There is possibility that the company will carry out strategic cooperation with partners including Barclays Plc. Though Circle’s innovative financial products are decentralized, the company’s principle has always been that technological innovation should comply with legal regulation while risk management should be conducted in the process of product innovation.
When talking about the prospect of financial technology, Jeremy believes that internet finance is going to bring about revolutionary changes in the world and the block chain technology will profoundly affect the business models in industries such as audit, accounting and insurance. Sean said that artificial intelligence and block chain technology are the two investment focuses today, just as the internet in 1995 and social networking sites in 2005. Jim, who has been to the Tsinghua University several times, reviewed the development of financial technology according to its timeline.
This is the third Forum held under Tsinghua PBCSF Forum Internet+ Series. Previous speakers include Charles Adler, Kickstarter co-founder, and Yan Yan, Managing Partner at SAIF Partners.
