Infolinks.com, 2618740 , RESELLER

Share This

Tuesday, June 26, 2018

Jack Ma Embraces Blockchain for Ant But Warns of Bitcoin Bubble

https://www.bloomberg.com/news/videos/2018-04-20/how-much-is-bitcoin-really-worth-video

https://youtu.be/SA2wG5st0rk

Billionaire Jack Ma has declared Bitcoin a potential bubble, reiterating his caution over the volatile crypto-currency as his Ant Financial on Monday launched blockchain-based money transfers between Hong Kong and the Philippines.

The founder and chairman of Alibaba Group Holding Ltd. extolled the possibilities of the decentralized ledger on which Bitcoin is based but warned that the digital currency itself may be driven by torrid speculation. Ma made his comments after officially launching a blockchain-based remittance service with Standard Chartered Plc and GCash, Ant’s venture with the Philippines’ Globe Telecom Inc.

Bitcoin set a 2018 low on Sunday before bouncing back a tad, underscoring the volatility that stems from increased scrutiny by regulators even as global central bankers and business chiefs raise questions about its viability.

“Blockchain technology could change our world more than people imagine,” Ma told reporters in the former British colony, home to a large population of Filipino workers and domestic helpers who send money home regularly. “Bitcoin however could be a bubble.”

Read more: Ant Financial Raises $14 Billion as Funding Round Closes

Ant Financial, an affiliate of Alibaba’s backed by some of the biggest names in global finance and investment, has explored blockchain technology for years, including to clean up China’s murky charities. But the remittance service marks one of the first instances of the internet giant using the technology in mainstream finance.

On Monday, Ma also took potshots at the traditional banking industry, saying financial institutions were over-charging for overseas payments. Ant Financial, blocked from buying Moneygram International Inc., now wants to build something better and take blockchain-based remittances beyond just Hong Kong to the Philippines. He didn’t elaborate.

“Traditional financial institutions serve 20 percent of people and make 80 percent of profits. New financial institutions should service 80 percent of people, and make 20 percent of profit,” said Ma.

Read more: Jack Ma’s Too-Big-to-Fail Financial Giant Faces a Clampdown

By

Bitcoin Drops Back Below $6,000 as 2018 Loss Approaches 60%


Bitcoin briefly dropped back below the $6,000 threshold breached this past weekend, bringing the loss for 2018 to almost 60 percent.

The world’s largest cryptocurrency by market value traded as low as $5,988, and was down 2.2 percent to $6,044 as of 10:56 a.m. in New York. Bitcoin last traded at this level in February.




Jack Ma Embraces Blockchain for Ant But Warns of Bitcoin Bubble
Bloomberg


Alibaba's Jack Ma says bitcoin is 'likely' a bubble while embracing its ...

 

Jack Ma Claims Bitcoin is a Bubble, not Blockchain - Google News ...

Chepicap

Alibaba chairman advises staying away from bitcoin

Jack Ma, whom is a controlling shareholder in Ant Financial - which is the financial technology affiliate of Alibaba, advises staying away from investing in bitcoin.
Inside Bitcoins

Jack Ma Claims Bitcoin is a Bubble, not Blockchain

by Muffie Rojas | Jun 26, 2018 | Uncategorized |. Jack Ma Claims Bitcoin is a Bubble, not Blockchain. This story was shared from this site. Jack Ma went to the ...
Fortune

Alibaba's Ant Financial Just Launched a Blockchain-based Remittance Service

Though Alibaba co-founder Jack Ma may think Bitcoin is in a bubble, the firm still believes in blockchain, the technology underlying cryptocurrencies.
Chepicap

Jack Ma witnesses blockchain-based project, gushes over future of blockchain tech

Ant Financial, company formerly known as Alipay and affiliate of the Chinese Alibaba Group, launched their blockchain-based electronic wallet cross border ...
Fortune

Alibaba's Jack Ma: Bitcoin Is 'Likely a Bubble'

Alibaba's chairman Jack Ma says that the company is betting on blockchain, but advises against investing in Bitcoin. Ma is the controlling shareholder in Ant ...
Blokt

Alibaba Founder Jack Ma Warns of Bitcoin Bubble

Founder and Chairman of Alibaba Jack Ma recently spoke about his views on cryptocurrencies, declaring Bitcoin an asset bubble and saying that digital ...
Crypto Coin News

Jack Ma of Alibaba Group Holding Ltd (NYSE:BABA) Sends Out A Warning Regarding An Impending Bitcoin Bubble

The executive chairman of Alibaba Group Holding Ltd (NYSE:BABA) Jack Ma Yun is quite pleased with the promise that pulls along with the underlying ...
TOINNOV

Jack Ma: Technology by itself is not a bubble, but bitcoin is possible

He actively explores the potential of blockchain but avoids cryptocurrency.
Business Insider Nordic

Alibaba's billionaire chairman Jack Ma is warning about a bubble in bitcoin

Jack Ma — the billionaire founder of China's online retail juggernaut Alibaba — is less than convinced about bitcoin's value proposition. Ma repeated his ...
LeapRate

Why exactly is Jack Ma calling Bitcoin a bubble?

One of the most famous and prominent business people in the world has just slammed Bitcoin. Jack Ma, the founder of Alibaba and the fintech company Ant ...
Stockhead

Blockchain is world-changing but bitcoin is a bubble says billionaire

He added that blockchain represents a solution for security and privacy, as well as processing capabilitiies for the millions of transactions that Alibaba completes ...
Bitsonline

Alibaba Co-Founder Jack Ma Bashes Bitcoin, Leverages Blockchain Technology

Jack Ma, co-founder of the Chinese technology conglomerate Alibaba Group, has yet again raged against the bitcoin machine, calling it a foreseeable bubble.
Legal Gambling News

Ant Financial Launches Blockchain Based Money Transfer Services

Ant Financial recently launched a blockchain-based money transfer *service* between Hong Kong and the Philippines.
sbDirtySouthSoccer

Jack Ma Embraces Blockchain for Ant But Warns of Bitcoin Bubble

The Chinese investor, who is worth almost $50bn (£37bn), said: "Blockchain technology could change our world more than people imagine, adding that "Bitcoin ...
HiBusiness

Jack Ma Of Alibaba Cuts Remittance Costs

The one and only Jack Ma of Alibaba has revealed that Ant Financial Services—an affiliate of the e-commerce company that is Alibaba is no longer going to ...
Money Morning

Here's the Real Reason Jack Ma Called Bitcoin a Bubble

Bitcoin prices were slightly up on the day even though Alibaba founder Jack Ma said he believes the crypto coin is a bubble. But there's a big reason why he ...
Smartereum

Alibaba's Jack Ma Warns Against Bitcoin; Pledges Support For Blockchain Technology

Once again, the billionaire founder of Alibaba hails blockchain technology, once again he expresses reservation towards cryptocurrencies suggesting it could be ...
Kitco News

Stay Away From Bitcoin - Alibaba's Chairman

Share this article: Stay Away From Bitcoin – Alibaba's Chairman. (Kitco News) - Alibaba's billionaire co-founder and chairman Jack Ma said that he has ...
Express.co.uk

Bitcoin news: 'BTC is a bubble' says Chinese billionaire Jack Ma in shock warning

BITCOIN may be the world's most talked-about cryptocurrency, but a Chinese billionaire has warned it is likely a 'bubble'.
Investing.com

Bitcoin Continues Tentative Comeback Despite Alibaba's Jack Ma 'Bubble' Warning

Investing.com – Bitcoin continued its tentative comeback from its swing lower over the weekend but sentiment remained fragile amid sluggish fund inflows.
Coinspeaker

Ant Financial Launches Blockchain-based Money Transfers Between Hong Kong and the Philippines

Billionaire Jack Ma believes that blockchain can revolutionize the world and moves from words to action: the affiliate of his Alibaba Group Holding has ...
EconoTimes

Alibaba chief calls for bitcoin bubble but constructive on blockchain

Alibaba Chairman Jack Ma says that he would stay away from bitcoin because it could be a bubble but he reportedly seems to be constructive on the blockchain.
Inside Bitcoins
Jack Ma Claims Bitcoin is a Bubble, not Blockchain

 

Is Alibaba going to use XRP?? - Topics - Xrp Chat

 

No comments:

Post a Comment