Core Viewpoint - The P2P industry is currently facing a crisis, with a significant number of platforms shutting down or facing issues, highlighting the need for enhanced regulatory measures and the integration of financial technology to mitigate risks [1][4]. Industry Overview - In June, 17 internet financial platforms ceased operations, and 63 problematic platforms were reported, with additional major platforms encountering issues in July [1]. - The regulatory environment is tightening, with local financial authorities adopting advanced risk management models similar to "Ant Financial's Risk Brain" to enhance oversight [1]. Financial Technology's Role - Financial technology is deemed essential for the effective functioning of internet finance, serving as a necessary "long board" for the industry [2]. - The lack of financial technology capabilities has been identified as a critical factor contributing to the high-risk operations of P2P platforms, which often engage in non-compliant practices [1][4]. Regulatory Enhancements - Strengthening regulatory frameworks and leveraging financial technology can address the critical issue of asymmetry in regulation and industry practices, allowing for more effective oversight [4][5]. - The establishment of the Financial Technology Committee by the People's Bank of China in 2017 emphasized the importance of utilizing technologies like big data and artificial intelligence to enhance regulatory capabilities [4]. Future Development - The integration of financial technology is expected to play a pivotal role in shaping the future development and innovation pathways of the internet finance industry [5]. - Industry giants are positioned to set standards and drive development, with their commitment to open technology potentially benefiting both industry growth and regulatory advancements [5].