"Mr. Peter, what are the advantages of Confinity compared with NewPay?"
“I think Confinity’s advantage is that we have more experience than NewPay in the field of handheld computer electronic payments. At present, NewPay has not entered this field.
At the same time, in the field of information security, our technology and NewPay's are also different. NewPay uses fully homomorphic encryption calculations at the data level, while we use infrared ports to connect handheld computers to each other on the network to transmit information.
We are also currently developing a computer-based payment system. "
"Compared with NewPay, Confinity can complete transfers without a password. Do you think this method will not be seriously insecure?"
"We are also aware of this problem. We will update Confinity recently. After that, you will also need to enter a password to transfer money using Confinity.
We're even considering ways to double-encrypt. 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 internally whether it is necessary to add an SMS verification code confirmation method.
Our philosophy is to achieve some balance between security and convenience. "
The first two questions were all Confinity-related questions asked by the reporter to give face. 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 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 motioned to the service staff at the venue to hand the microphone to Zhou Xin. After taking it, Zhou Xin said: "Mr. Peter, there are a lot of journalists here.
I'm afraid that people will ask me a lot of questions. In Chinese, this is called overshadowing the host. Even if I am willing to accept their interview, I need to ask you first whether the host is willing. "
Peter nodded and said: "I don't mind, your arrival can be the best advertisement for Confinity."
Zhou Xin: "Just tell me."
"I would like to ask what do you think the future of the electronic payment field is, and what do you think of other competitors?"
Zhou Xin feels that this kind of problem is difficult to grasp, “The electronic payment field is the foundation of Internet services, and it can provide services for almost all Internet services.
Just like electricity, it will be indispensable to the Internet.
So I think there is a lot of potential in this field. As for other competitors, I am actually not very optimistic about their ability to 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.
User demand for electronic payments is limited. The number of products I can purchase through Ebay and Amazon is limited, which means the number of electronic payments is limited.
Like online forums, at least so far we have not reached the user limit. The user's time is unlimited relative to payment requirements.
But companies like Confinity, which focuses on electronic payments in the field of handheld computers, are more likely to survive.
Of course, NewPay will soon enter the electronic payment field on handheld computers. "
When Peter answered questions, the reporters just listened. When Zhou Xin answered, the reporters either took pens and notebooks or PDAs, trying to write down everything Zhou Xin said intact.
It is no exaggeration to describe him as one of the top leaders in Silicon Valley.
"Mr. Zhou, I also have a question to ask you. Why does Quora set such a high threshold? Is this deliberately making things difficult for customers?"
Zhou Xin was helpless. He had known that he would not come to attend, "This is Confinity's press conference. 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 to answer your questions later. "
In the end, under Zhou Xin's strong opposition, Confinity's press conference ended in a hurry after 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.
"Definitely next time."
...
“Newman, thank you very much for coming to Confinity’s launch event and also helping me maintain the countertops at the venue.
Although we are direct competitors, and you mentioned in your answer that the field of electronic payment is a zero-sum game, this does not prevent us from becoming friends. "
That evening, Peter Thiel, Max Levchin and Zhou Xin had dinner together at an Italian restaurant called II Fornaio in downtown Palo Alto.
Peter Thiel sincerely expressed his gratitude, and he indeed thanked Zhou Xin.
If Zhou Xin insists on answering the reporters' questions, he will definitely not be able to stop him. Then the entire press conference will become a propaganda for Zhou Xin, and at most he will mention Confinity in the title.
The reason why Zhou Xin did this was to acquire Confinity, and more importantly, to poach Peter Thiel as a NewPay executive.
Warren Jensen is a senior financial practitioner who has both connections and abilities in the financial industry. However, he does not know enough about the Internet and electronic payments.
He can continue to be CEO, but Zhou Xin wants an executive responsible for specific implementation matters. Based on 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 finds it difficult to control them.
"I am just a guest, and guests do not disturb the host's ceremony. This is the basic etiquette of China.
Moreover, your products are very innovative, and the electronic payment field also needs fresh blood.
In my opinion, the electronic payment field is a zero-sum game. This does not mean that there can only be one player in the electronic payment field, NewPay.
Even if there is no Confinity, there will be other electronic payment companies trying to enter this field.
Even Amazon is far from monopolizing the electronic shopping market, let alone the novelty of electronic payments. Zhou Xin said with a smile.
There are a large number of Chinese engineers in Silicon Valley. Peter Thiel often interacted with Chinese engineers. The marketing director in Confinity’s early team was of Chinese descent.
This was the first time for him to meet such a young Chinese-American like Zhou Xin, and he was very confident. From the conversation, he did not put other competitors in his eyes at all.
“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 trade, 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 comply with the payment methods of the 21st century.
Before I founded Confinity, I wanted to be able to transfer money from anywhere as long as I had a handheld computer. "
