Alibaba Founder Jack Ma: I am Paying Special Attention to Bitcoin and Blockchain | Token Spoken
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Alibaba Founder Jack Ma: I am Paying Special Attention to Bitcoin and Blockchain

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The chairman of Alibaba and Ant Financial, who has valued around $150 billion, Jack Ma, said he pays attention to Bitcoin and Blockchain as he is also thinking of creating a cashless society.

Ma said he is still working to understand the main values and specialties of Bitcoin and many other cryptocurrencies and he stated Blockchain technology could help the world to form a cashless society in the future.

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Speaking about China, we can say the minority of the people now only using cash or credit cards to pay their bills or buy something. Lots of the industry has been dominated by Alipay and many other payment platforms.

People in China can buy a coffee for just touching a button on certain Point of Sale terminals and getting their salaries from their employers on the same way.

Ma said:

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“I pay special attention to cashless society and blockchain technology. Mine and Alibaba’s job is we will move the world into a cashless society. The society can make everybody equal, inclusive to get the money they need, make sure it is sustainable and is transparent. I hate corruption. I don’t have opportunity is ok. But I don’t want somebody through a dirty way take away my opportunity. This is why we want a cashless society.”

During his speech, Ma said he still thinks Bitcoin or cryptocurrencies could be used instead of fiat or as a store of value but he said he is still undecided about what makes Bitcoin and other major cryptocurrencies so special.

He explained:

“Bitcoin, the thing I want to know is that what value, what things that itcoin can bring to the society. But Behind bitcoin, the technology itself, is really very powerful.”

Similar to Ma, vice-president of Ant Financial, Ray Chan said they are working to give better products to younger customers. He said:

“When we consider new products, we create them for this era, one in which young people have become the main driving force of our society.”

 

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