The Millennium Semiconductor Survival Guide.

Chapter 85 The electronic payment war will be a zero-sum game

"Mr. Peter, what are the advantages of Confinity compared to NewPay?"

"I think Confiniti's advantage is that we have more experience than NewPay in the field of handheld computer electronic payment, and NewPay has not yet entered this field.

At the same time, in the field of information security, our technology is different from that of NewPay. NewPay adopts fully homomorphic encryption calculation at the data level, while we use the infrared port to connect handheld computers to each other on the network to transmit information.

We are currently also developing a payment system on the computer side. "

"Compared with NewPay, Confiniti can complete the transfer without a password. Do you think there will be no serious insecurity in this way?"

"We are also aware of this problem. We will update Confinity recently, and then we will also need to enter the password when using Confinity to transfer money.

We even have a way of thinking about double encryption.As for the SMS verification code, since the SMS verification code involves NewPay’s patent, I need to discuss this issue with Newman, and we also need to discuss whether it is necessary to add a SMS verification code to confirm the right.

Our philosophy is to strike a balance between security and convenience. "

The first two questions belonged to the reporters to save face, and they all asked Confinity-related questions. When the third reporter stood up, he started to ask Zhou Xin directly.

"Mr. Zhou, because you have never accepted interviews from outside media, this is also a rare opportunity for you to participate in such an occasion. I have some questions to ask you. Is it convenient for you?"

Peter Thiel signaled the service staff at the venue to hand over the microphone to Zhou Xin, who took it and said, "Mr. Peter, there are quite a few journalist friends present.

I'm afraid that everyone will ask me a lot of questions. In Huaguo dialect, this is called taking the lead. Even if I am willing to accept their interview, I need to ask you, the host, if you are willing. "

Peter nodded and said, "I don't mind, your presence can be the best advertisement for Confiniti."

Zhou Xin: "Just tell me."

"I would like to ask what do you think of the prospects of the electronic payment field, and how do you view other competitors?"

Zhou Xin feels that this kind of problem is difficult to grasp, "The field of electronic payment is the foundation of Internet services, and it can provide services for almost all Internet services.

Like electricity, it will be indispensable to the Internet.

So I think there is a lot to do in this field. For other competitors, I am actually not very optimistic that they can compete with NewPay.

Not only because we have the advantage of users, but also because compared with other Internet services, electronic payment is more like a zero-sum game.

Users' demand for electronic payment is limited, and the number of goods I can purchase through Ebay and Amazon is limited, which means that the number of electronic payments is limited.

Like web forums, at least so far we haven't reached the user limit.The user's time is unlimited relative to payment requirements.

But companies like Confiniti that focus on electronic payments in the field of handheld computers are more likely to survive.

Of course, NewPay will soon enter the electronic payment field of handheld computers. "

When Peter answered the questions, the reporters just listened. When Zhou Xin answered, the reporters either took pens, notebooks or handheld computers, trying to write down everything Zhou Xin said.

It is no exaggeration to describe it as a Silicon Valley top streamer.

"Mr. Zhou, I also have a question to ask you. Why does Quora set such a high threshold? Is this deliberately embarrassing customers?"

Zhou Xin was very helpless, he knew that he would not come to attend, "This is Confinity's press conference, and the reporter's question just now has something to do with electronic payment and Confinity.

The question you are asking now has nothing to do with Confinity.

If you are interested in these questions, quora will hold a special press conference later to answer your questions. "

In the end, under Zhou Xin's strong opposition, the press conference of Confinity ended hastily after the reporters asked a few more questions.

Instead, when Zhou Xin left the venue, he was surrounded by reporters and asked him when Quora would hold a press conference.

"Next time definitely."

"Newman, thank you so much for coming to Confinity's press conference and helping me maintain the table at the venue.

Although we are direct competitors, you also mentioned in your answer that the electronic payment field is a zero-sum game, but this does not prevent us from becoming friends. "

That night, Peter Thiel, Max Levchin and Zhou Xin had dinner at II Fornaio, an Italian restaurant in downtown Palo Alto.

Peter Thiel expressed his sincere thanks, and he did thank Zhou Xin as well.

If Zhou Xin insisted on answering those reporters' questions, he would definitely not be able to stop him. Then the entire press conference would become a promotion for Zhou Xin, at most mentioning Confinity in the headline.

The reason why Zhou Xin wanted to do this was because he wanted to acquire Confiniti, and more importantly, he wanted to poach Peter Thiel as an executive of NewPay.

Warren Jensen is a senior financial practitioner with both connections and capabilities in the financial industry, but he does not know enough about the Internet and electronic payments.

He can continue to be CEO. Zhou Xin wants an executive responsible for specific execution matters. Combining Peter Thiel's resume and offline meetings, Zhou Xin believes that Peter Thiel is the second priority candidate.

The first priority is Musk, but Musk has too many ideas, and Zhou Xin thinks it is difficult to control.

"I'm just a guest, guests don't disturb the host's ceremony, this is the basic etiquette of Huaguo.

And your products are very innovative, and the electronic payment field also needs fresh blood.

In my opinion, the field of electronic payment is a zero-sum game, which does not mean that there can only be one player in the field of electronic payment, NewPay.

Even without Confiniti, there will be other electronic payment companies trying to enter this field.

Even Amazon is far from monopolizing the e-shopping market, let alone the novelty of electronic payments. "Zhou Xin said with a smile.

There are a large number of Chinese-American engineers in Silicon Valley. Peter Thiel had a lot of dealings with Chinese-American engineers. The marketing executive in Confinity’s early team was Chinese-American.

It was the first time he met a young Chinese like Zhou Xin, and he was very confident, and he didn't pay attention to other competitors at all from the conversation.

"The electronic payment field is an emerging field, and the success of NewPay has given us great encouragement.

Everyone in the world needs money, they need to get paid, they need to transact, they need to live.Paper money is the most traditional technology, and credit cards and bank cards are more convenient payment methods.

But it is not enough, we are about to enter the 21st century, and the 21st century needs to meet the payment methods of the 21st century.

Before I founded Confinity, I wanted to realize that as long as there is a handheld computer, I can get transfers from anywhere. "

　Go to Sanjiang tomorrow, and it will be on the shelves at 12 noon on Wednesday.

　　It will be updated on the day it is put on the shelf. The specific number of explosions depends on the status of the day.

　　
　
(End of this chapter)