Alibaba founder Jack Ma: Bitcoin is not for me

Chinese businessman Jack Ma has revealed that he is skeptical about Bitcoin and is not keen to learn more about cryptocurrencies, despite his company dedicating significant resources to Blockchain.

Speaking to CNBC, Ma , stated that he constantly received questions about Bitcoin during the World Internet Conference held in Wuzhen, and he replied:

Honestly speaking; I know very little about Bitcoin and I’m confused because of it.

Having the title of the richest person in China with a fortune of $38.6 billion, Ma will restore international order if Bitcoin proves that it is not just a boom in the economy. He warned that it could change it completely:

If it works, all international rules in trade and finance will change completely. We have put a lot of effort into blockchain technology and its development.

Ma stressed that Alibaba’s blockchain efforts will be limited to applications that are already running in the current economic order. The company recently launched Blockchain initiatives to improve healthcare and combat counterfeit food sales.

“We are focused on AliPay”

As to whether the company will make a splash in the cryptocurrencies space, “I don’t think we are ready for that.” said Jack Ma, adding that he will focus on AliPay, the mobile payment platform that only allows transactions in fiat currencies.

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