Alibaba Founder Ma Yun discuss about bitcoin: The Bitcoin technical function is powerful

Chinese business magnate Jack Ma is confused by bitcoin and is not intend to learning more about the emerging cryptocurrency asset class, even though Alibaba is pouring important resources into blockchain development.
“I don’t have much interest in bitcoin. What I want to know is what bitcoin can bring to society? However, I think bitcoin technology is very powerful, so in Alibaba, Alipay, we are trying to make sure that we will push the world into a cashless society.”
Following the initiatives of leading financial mechanisms and enterprises such as Nasdaq and IBM, Alibaba has become increasingly interested in cryptocurrency technology. Over the past two years, the e-commerce giant has turned to blockchain to boost transparency in the country’s philanthropy sector, to fight food fraud and to secure health data in the medical sector. And this October, CTO of Ant Financial Cheng Li offered a public enunciation of the company’s technological strategy “BASIC” for the first time at the Computing Conference 2017. The acronym BASIC stands for “Blockchain, Artificial Intelligence, Security, Internet of Things and Cloud Computing.”
It is worth focus that Ma Yun, when it comes to the powerful technology of bitcoin, emphasizes its role in the cash — free society. In March this year, the “cashless era” has become the focus of discussion NPC and CPPCC, Alipay also shouted slogans, with five years of time to promote the Chinese into the cashless society.
“I don’t think we are ready for Bitcoin technical function,” he said, casting doubt on whether Alibaba will make a leap into the cryptocurrency space. “I’m going to focus on AliPay,” the company’s mobile payments platform, as well as other technologies that focus on development for the RMB, USD, EUR, and other state-issued currencies.

“If customers accept Bitcoin, Then I’m Fine with it.”

As a major competitor to Alibaba, JD joined the race in the blockchain industry in 2016. The second largest e-commerce firm in China has so far utilized blockchain in its big data ecosystem, an asset management system and supply chain.
With the development of technology, the non cash society is the inevitable trend of the evolution of monetary form. Not only in China, are central banks in many countries paying attention to the research and research of electronic money. The Swedish central bank is considering issuing the “electronic Krone”. Japan is planning to launch its national digital currency “JCOIN” before the opening of the Tokyo Olympic Games. Many central banks such as the UK, Singapore, Canada and other countries have launched the study of statutory digital currency.


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