Jack Ma: Bitcoin is a bubble, but individuals are very optimistic about the blockchain

    2018/05/16 17:56 Angel lv Created with Sketch.

On May 16, at the second World Smart Conference held in Tianjin, Jack Ma, Chairman of Alibaba's Board of Directors, said in response to a question on the site. 


“The blockchain is not a bubble, but today's Bitcoin is a bubble, and Bitcoin is just a very small application of blockchain, and was priased to be like this."

Jack Ma also said:

"Today's blockchain will not be the blockchain after five years, or the  blockchain after ten years. Blockchain is not a huge gold mine. I think at least in Alibaba, the blockchain must be a solution, a solution privacy and security problems in the data era."

In Jack Ma's view, it is possible to turn blockchain into a wealth when it brings value to the society. 

 "You must first think that what problems it  can solve to the businesses, governments, consumers, and what unique value it can bring to the society.”

Jack Ma also said that he personally is very optimistic about the blockchain, and revealed that Alibaba has carried out several years of research on the blockchain, and Alibaba has become the company with the most patented technology in the blockchain globally.

"We have no choice. People engage in the areas such as online media and social media, do not need blockchain. However, the Internet finance we are doing have trillions of transactions in Alibaba trading platform. We will be dead without blockchain, so we have to have this thing, but we never think in the way that it could make a fortune like Bitcoin,"

Jack Ma said.

Jack Ma finally stated that the blockchain is not a bubble. The blockchain must be a solution to society, data, people, government, and enterprise. If you do it in a down-to-earth manner, you will surely be rewarded.

    Adapted from: CoinTime Executive editor: michelle
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