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Jack Ma: Blockchain is not a bubble, but Bitcoin is.

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Post time 5-12-2023 12:22:14 | Show all posts |Read mode
Edited by Ritu77 at 23-12-2023 05:44 PM

I have no idea about Bitcoin, and I feel particularly confused. If it is really useful, the rules of global trade and financial systems will be completely changed. I don't think we are ready for that, so I still focus on Alipay, the US dollar, and the euro. We have a team researching blockchain, but Bitcoin is not something I want to pursue; we don't care about Bitcoin.

At the Smart China Expo, he expressed strong optimism about blockchain, stating that Alibaba has been researching it for many years. He personally believes that blockchain is not a huge gold mine. At least for Alibaba, blockchain must be a solution, a solution for privacy and security in the data era.

For blockchain to become something that creates value for society, it must be a solution, only then can it become wealth. However, many people entering the blockchain field now see it as a way to make money, implying the creation of cryptocurrencies and fundraising through ICOs.

He mentioned that currently, Alibaba holds the most blockchain patents globally, emphasizing that it's necessary for Alibaba since other internet companies involved in information dissemination (such as social media) don't need blockchain. He said:

"We do internet finance, and we have trillions and tens of trillions of transaction volume on Alibaba. Without blockchain, we're going to die, so we must have this."

Finally, he noted that blockchain has become a popular term, but not every company is suitable for blockchain technology. Many people are now buying and selling things related to blockchain, which is cryptocurrencies, and this is what makes him more concerned.
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Post time 5-12-2023 12:31:56 | Show all posts
Jack Ma has also spoken up.
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Post time 5-12-2023 12:38:40 | Show all posts
It seems that Jack Ma is quite interested in these things.
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Post time 5-12-2023 21:52:33 | Show all posts
Bitcoin is just a virtual currency, isn't it?
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Post time 5-12-2023 21:54:17 | Show all posts
Blockchain is definitely not a bubble.
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