Blockchain should help society move towards a “greener and inclusive” future: Jack Ma
According to Jack Ma, the founder of Chinese retail giant Alibaba, blockchain and other advanced technologies need to prove that they have the power to create a lasting impact on the society and help it evolve in a “greener and more inclusive” direction. His remarks came as part of a keynote address delivered at the World Artificial Intelligence Conference in China on September 17, as local outlet cnBeta reports.
This is not the first time Ma has spoken about the euphoria surrounding the distributed ledger technology (DLT). Previously he had spoken strongly against claims that blockchain is a mere “bubble” and all “hype,” emphasizing the fact that blockchain can play a very significant role in addressing the issues of data privacy and data security for helping the society evolve at all levels.
While Ma’s keynote address was all about artificial intelligence and the misconceptions surrounding the advent of this new technology, he reserved a special place for blockchain and IoT and stressed the fact that blockchain and Internet of Things (IoT) have been like technological watersheds in the new data age. He emphasized:
“The data age is a major opportunity for manufacturers to reform the industry. But blockchain and IoT will be meaningless tech unless they can promote the transformation of the manufacturing industry, and the evolution of the society towards a greener and more inclusive direction.”
Alibaba leading the way in blockchain adoption
Jack Ma, who is now planning for retirement, has a net worth of $36.9 billion, according to Forbes. The overwhelmingly popular mobile payment app Alipay, run by Alibaba affiliate Ant Financial, is said to have 450 million users.
While the latest remark might sound a bit cautious to many advocates of blockchain, it is important to mention here that Alibaba has consolidated its position at the top of the heap among the entities who have filed the most number of blockchain related patents (90 patents), even outflanking IBM, which speaks volumes in itself about Alibaba’s interest in this evolving technology. .
Indeed as early as summer 2016, Ant Financial, introduced this innovative technology to improve accountability in its work with the Chinese charity industry, going on to recruit blockchain experts in the company at large the following year. Early this year in June, Ant Financial collaborated with GCash and Standard Chartered to promote remittance service.
At the same time, Alibaba has complied with Beijing’s strong crackdown on crypto trading, with Alipay announcing it would block any account that uses its network to transact in Bitcoin (BTC) over-the-counter (OTC) trade.
Image via Shutterstock
Join our Telegram group