Author: Wang Yanhua
Jack Ma, the founder of Chinese e-commerce giant Alibaba, shared his views on blockchain at the 2nd World Intelligence Conference in Tianjin on Wednesday.
He said that blockchain technology is not a bubble, but bitcoin is.
He said in Mandarin, “With regards to blockchain, we should not be thinking about how to make money from it, but rather how it can benefit society, governments, corporations, and consumers.”
Ma said that he has been researching blockchain for years, and strongly believe in its potential to address issues of data privacy and security for society at all levels.
He stressed that security is a top priority for the e-commerce conglomerate. He shared that when Alibaba found out that blockchain can address security issues, Alibaba started to conduct research on it.
Alibaba is now the corporation with the most blockchain patents in the world, according to Ma.
China on the whole has the most blockchain patents in the world as well.
Ma added that regrettably, much of the attention the emerging blockchain industry receives comes from speculators who view blockchain as a “huge gold mine.”
In line with Ma’s position, Alibaba Group has stopped short of embracing cryptocurrencies. In April, online shopping website Taobao banned all stores on the platform from providing services related to initial coin offerings.