Founder of the Chinese giant e-Commerce Alibaba Group Jack MA (Jack Ma) at a conference in Tianjin said that, in his opinion, the technology of the blockchain is not a bubble, while bitcoin is such.

He also added that several years studied the technology and confident in its potential that can occur when solving problems for safe data storage and security in society, at all levels, from governments to individuals. However, he believes that interest in that industry often speculate by presenting it as a “huge gold mine”. MA believes in the dollar, Euro and Alipay as the engines of the economy and believes that the world financial system as a whole is not ready to accept bitcoin.

Recall that in late April, Alibaba Australia announced the launch of a pilot project of the Food Trust Framework for tracking the supply chain of products from Australia and New Zealand to China through Tmall Global platform using blockchain technology and QR codes. If the project will be considered successful, the new technology can be incorporated in other countries.

Two weeks ago U.S. district court in Manhattan did not support the complaint of Alibaba Group on the blockchain-project Alibabacoin Foundation (Foundation ABBC) from Dubai, claiming that the coincidence in their names is not a violation of copyright.