The Chairman of Alibaba, Jack Ma has recently expressed his special attention to the world’s largest cryptocurrency, Bitcoin and blockchain technology. He believes that these have the potential or are the key contributors for establishing a cashless society.
China is already on the way to become cashless as only a few percentages of the population make use of liquid cash or credit cards to buy products, settle utility bills and get compensation for their works. Hangzhou-headquartered a third-party mobile and online payment platform, Alipay gives its users the facility to go almost cashless. For example, an Alipay user can buy a coffee in China with a tap of a smartphone on sophisticated Point-of-Sale terminals.
Although the Chinese business giant Jack Ma is continuing to grasp the fundamental value of Bitcoin and other virtual currencies, he emphasized that blockchain technology along with cryptocurrency would play a major role in changing the society to cashless. He has reportedly been quoted by various sections of media confidently orating about the DLT technology and digital currencies. Ma said that he hates corruption and wants to see everybody equal inclusive to the money they require.
“I pay special attention to cashless society and blockchain technology. Mine and Alibaba’s job is we will move the world into a cashless society. The society can make everybody equal, inclusive to get the money they need, make sure it is sustainable and is transparent,” Ma added, as reported by CoinGape.
Not only in China but the 54-year old co-founder of Alibaba, Jack Ma is also one of the richest and most influential men in the world. Due to his charismatic way of making people understand any new subject, the listeners get convinced and abide by his words. Perhaps, his recent speech will convince people of the potential power of cryptocurrency.
“Bitcoin, the thing I want to know is that what value, what things that Bitcoin can bring to the society. But Behind bitcoin, the technology itself, is really very powerful,” Ma further opined, Chepicap noted.
In the last few weeks, the Chinese authorities have increased their regulatory pressure on domestic cryptocurrency activity, although the estimation says that the government has already invested around $3.57 billion on blockchain technology since 2016. Now it is yet to see if the government changes its viewpoint on the digital currencies when its own top business magnate is in favor of its potential and growth.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]