Alibaba founder Jack MA said that by itself, the blockchain technology is not a bubble — unlike bitcoin.
Speaking Wednesday at the second conference of the Intelligence World Conference, MA talked about his absolute confidence in the blockchain and the ability of the technology to ensure confidentiality and data protection at all levels, whether governments, corporations or individuals. The businessman stressed that safety is the top priority they established conglomerate.
However, AI expressed regret at the fact that most of the attention of the young industry have provided bitcoin, which some speculators believe a “huge gold mine”. MA always very wary of bitcoin. During the December peak BTC entrepreneur told CNBC China:
“I’m not sure about bitcoin. I am very puzzled. Even if he can really work in real market conditions, this will change the global trade and financial system. I don’t think we are ready. I still haven’t forgotten about Alipay and the United States dollar and the Euro. We have a team that studies the blockchain, but I don’t even consider bitcoin. We could not care less”.
MA seriously sticks to his words. Despite the fact that last year thousands of people believed that Alibaba will accept BTC before Amazon and Google, Alibaba Group is trying to stay away from the cryptocurrency sector as such. In January, Alibaba Cloud denied the rumors about the involvement of their new p2p network to mining or other operations with digital assets. Later, in April, a subsidiary of Alibaba Taobao banned to host on its platform any ads related to ICO after Facebook, Google and Twitter.