Alibaba CEO Jack Ma Says Bitcoin is a Bubble, Blockchain is Not
May 21, 2018 11:42 am
The Blockchain is Not a Bubble, but Bitcoin is, says Jack Ma
Jack Ma, Alibaba founder, and chairman is now one of the latest supporters of Blockchain Technology. The billionaire CEO told Bitcoin is the bubble, but Blockchain is not. He commented recently at the World Intelligence Congress in Tianjin.
Bitcoin is a Bubble, Not Blockchain.
Meanwhile, at the conference, Jack also revealed that his company is mainly focusing on Blockchain Technology.
“The blockchain is now a hot word. First, blockchain is not a bubble, but Bitcoin is a bubble. Bitcoin is just a tiny application of blockchain. At least inside Alibaba, blockchain must be a solution that addresses the privacy and security issues in the digital era.”
He also continued stating that blockchain was the real technological invention which would encourage the future digital revolution. He identified blockchain technology and spoke about the potentialities of the blockchain which is the power behind cryptocurrencies. He also revealed that his company was exploring multiple blockchain applications. The firm is investing in security and privacy solutions built on the blockchain.
He is disappointed with the current people who are exploring blockchain technology. He says too much emphasis is placed on blockchain technology as a money making tool. He reemphasized the necessity of improving the global business process instead of treating blockchain as a “gold mine.”