Jack MA, founder of Alibaba, in his speech at the second world conference of World Intelligence Conference in Tianjin, said that the technology of the blockchain is not a bubble, but bitcoin – on the contrary, a bubble is.
MA said that for many years he has been researching the blockchain technology and am confident in its potential. He believes that it is able to solve many problems in the field of privacy and data security at all levels: from governments to private citizens. He stressed that safety is a top priority for his company, which last year earned 39,9 billion dollars.
AI added that, unfortunately, the main driving force in the industry of blockchain now are the speculators who are considering this technology as a “huge gold mine”. MA cautiously treated bitcoin, even in 2017, when the price of the cryptocurrency the number one peaked. At that time, during an interview for CNBC Shanghai, he said that:
I know nothing about bitcoin. And frankly I am stumped. If it works, the rules of world trade and the whole financial system will change completely. But I don’t think we are ready. So I’m still focused on Alipay… on US dollars and euros. We have a team that studies the blockchain, but bitcoin is not what we want to do.
Last year, according to Bloomberg, Jack MA was named the richest man in Asia. Its capital is estimated at 41.8 billion dollars. It is reported that the popular mobile payment app Alipay, owned by Alibaba’s affiliated company Ant Financial, has 450 million users.
Back in the summer of 2016 the company Ant Financial introduced blockchain technology to improve accountability in its work with the Chinese charitable organizations, and a year later the number of blockchain experts in the company increased.
However, in accordance with the position of MA, Alibaba Group, is skeptical of the cryptocurrency, and Alibaba Cloud recently issued a denial of rumors that it recently launched a network of P2P Nodes is a kind of platform for mining cryptocurrency.