Jack Ma - Alibaba’s CEO — Bitcoin is in a “bubble” — but not blockchain — is he worried ?
Source:https://cointelegraph.com/news/e-commerce-giant-alibabas-jack-ma-says-blockchain-is-not-a-bubble-bitcoin-is
https://news.bitcoin.com/us-court-rules-alibaba-cryptocurrency-name/
Jack Ma is late to the 2018 “Bitcoin is in a 2018 bubble party”. Nonetheless he proclaims he doesn’t see the use case for Bitcoin like others do. He does believe quite strongly in what blockchain can do for companies — including Alibaba.
Is it that Alibaba and Amazon’s look at crypto’s as “competition”?
Does Alibaba want it’s own coin? Oops....somebody came out with Alibabcoin already and Alibaba lost that lawsuit last year (see 2nd sourced article above).
I think this is the case, Amazon, Alibaba, Facebook don’t want to show their crypto hand and I can understand. They want their own cryptos and bitcoin, litecoin and others are basically competition. I can see them all accepting BTC - LTC — ETC and giving “discounts” to those that pay in “AmazonCoin or AlibabaToken”.
They lose credibility when they they say such things like Bitcoin bubble. They lose their trustworthiness to me. Did Jack not read the St Louis Federal Reserve white paper on Bitcoin being every bit as valuable as Fiat Currency?
We are in this transition period where there HUGE and AMPLE Data of Crypto’c value and 1000’s of banks and companies planning. And then you have Bill Gates, Warren Buffet, and Jack Ma coming out to say “bitcoin is xxxxxx”....very odd.
I gues Jack does not believe in his own companies standing in the image below. Alibaba is a marketplace where people go to buy things — can they be considered a “middleman “ ?
Do you think blockchain in some applications will eliminate “middleman” ? I think that has already been proven
All these players are planning for the next 10-20 years right now — competition is coming.
Alibaba has alipay which is digital payment but currently is fiat based. So maybe he sees bitcoin as competition
I think you are right. They all have to learn and plan if cryptos are friend or foe depending on their business model. To me, he has plenty of time but there will be a day where some middleman will be at risk with more and more decentralization.
Nice
Thank you
@floridanow Many people including great investors and renown people have 100% trust in blockchain but not in bitcoin. Me i have trust in both. Why not.
I agree, maybe they have were skeptical one year ago? But now there is an avalanche of data and efforts from Goldman Sachs trading desk to Seminole County Florida accepting for tax payments. They have to be aware at this point?
Technology has the world spinning.
Like “musical chairs” :-)
good job