Jack Ma Talks About BTC: Be Careful, but It’s Powerful

How does Jack Ma see the development trend of bitcoin? He gave the following reply to a BTC fan in a recent public event:

“For Bitcoin, I don’t have much interest, what I want to know is, what can bitcoin bring to society?” But anyway, I think blockchain technology is very powerful, so in Alipay business of Alibaba, we are also trying to ensure that we can push the world into a cashless society. But bitcoin, we look at it in a very careful way. I am not very familiar with Bitcoin, I am always curious. But I think for bitcoin enthusiasts like you, Bitcoin is inseparable. ”

Although Jack Ma emphasized in public his cautiousness about bitcoin, his affirmation on its underlying technology-blockchain can be sensed through his words.

Ma’s attitude towards blockchain has long been reflected in his action. For the first time this year, Ant Financial has unveiled its technical layout with blockchain as its priority. Blockchain, together with Artificial intelligence (AI), security, IoT (internet of things) and cloud computing constitute the cornerstone of the opening of the Ant Financial technology. And on this basis extending three major capabilities of risk control, credit and connectivity.

Just recently, on November 8, Alibaba Group, Ant Financial and Xiongan signed a strategic cooperation agreement. Alibaba and Ant Financial will construct “digital Xiongan” blockchain implementation platform. Through the blockchain and financial cloud, credit, biometric identification, financial intelligence, risk control, security and other fields of cooperation, to build Xiongan into a ” Credit city cooperative governance, Green city benefiting People’s livelihood and city of financial science and technology innovation.” It can be seen that Alibaba has long put the blockchain in an important position of its strategic layout and infiltrate into all of its business.

With the boost of blockchain, is cashless society on the way?

It is noteworthy that Jack Ma, when it comes to the powerful function of Bitcoin technology, especially emphasizes its role in cashless society. This March, the “cashless era” has become the focus of discussions on the two sessions, Alipay also shouted slogan of using five years to promote China into a cashless society.

PBOC is also a pioneer in promoting the realization of “cashless society”. Successful test was made in PBOC digital-currency exchange platform in February 2017, legal currency issued by the central bank has started trading on the platform. Soon afterwards, digital currency institute under PBOC saw its official opening too and has been vocaling frequently on the research of China’s legal digital currency.

With the development of technology, cashless society is the inevitable trend of the evolution of monetary form. Not only China, but also central banks in many countries are focusing on and studying electronic currency. The Swedish central bank is considering issuing “electronic krone”. Japan is planning to launch its own national digital currency, “J COIN”. Several central banks of UK, Singapore and Canada, have also initiated research into the legal digital currency one after another.

In short, regardless of whether Jack Ma likes Bitcoin, cashless society is coming, and the role of blockchain should not be underestimated.

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