Bitcoin, Crypto currency, Blockchain

Alibaba founder: “Bitcoin is a bubble, the Blockchain is not”

cddee4d1ec00e539137b52697e6e466c - Alibaba founder: "Bitcoin is a bubble, the Blockchain is not"

The world of crypto-currencies is for the most directly with the Blockchain technology. Jack Ma, billionaire and Chairman of the Board of the Chinese E-Commerce giant Alibaba Group Holding and a longtime critic of Bitcoin, contrary to the however, and says that he sees crypto-currencies are still skeptical, Blockchain technology, however, is a good thing.

The founder of Alibaba, says that he has an estimated personal wealth of 42 billion dollars, shared his comments on the 2. World Intelligence Conference in Tianjin.

After Blockchain-technologies have been researched for years, came to Ma at the conclusion that Blockchain-technologies, data security and privacy issues can improve on all levels of society, for individuals, governments and companies.

Since Alibaba reports in its most recent tax return sales of 39.9 billion dollars, and trade volume of several trillion, stressed Ma, that security for the E-Commerce business is a top priority.

The renowned Business Magnate argues that the real point of discussion should not take into account whether a digital currency is profitable; Instead, the focus should be on how useful and beneficial the product is for the Ecosystem.

This is to find out the enizige way, whether or not an investment makes sense or not. According to him, a large part of the attention, the Blockchain-technologies come from people in the industry see it only as a massive Gold-Mine.

Jack Ma was already during Bitcoin’s finest hour at the end of last year, critical. He announced his thoughts to the end of 2017 on CNBC Shanghai and said:

“[About] Bitcoin, I don’t know much, even if it works, but it is very surprising that the rules for the global trading and financial system will be distorted completely. I don’t think we are ready for it. I pay attention to Alipay and how it is to the Euro and the US Dollar, but Bitcoin, we don’t want to pursue. We have a Team, the Blockchain is studied, but we do not focus on Bitcoin.“

Alipay, which is Alibaba’s most popular mobile payment system and which is executed by Ant Financial, was recently, thanks to growing users in the headlines.

In a recently published press release, Ant Financial announced that it had, in the meantime, 622 million customers. Alipay, Ant Financials ‘ main-Zahlungsarm brings 520 million customers to the Website. Barclays is to bring to the end of the year 600 million customers.

Ant Financial is ahead of many companies in one step, since the company has already integrated in the summer of 2016, the Blockchain technology in its business activities.

This step was created to improve the accountability and transparency of Chinese charities. Ant Financial has recruited the following year, Blockchain experts.

Despite the fact that Alibaba holds the largest share of patents in connection with Blockchain, is entered the E-Commerce giant, in line with the Beliefs of Jack Ma in the case of the introduction of digital currencies on the brake.

The beginning of this year, the company had quashed rumors about his P2P-Node System, the information, that it was currencies of a Mining platform for Crypto. Since April of 2018 Taobao, the subsidiary of Alibaba, has banned all promotions in connection with ICOs of your platform.

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