Had confessed to confused with one of these digital currencies, Alibaba CEO Jack Ma now decided to be in anti-Bitcoin camp.

Quoted from the South China Morning Post, Tuesday (5/22/2018), at the World Intelligence Congress in Tianjin, China, Jack Ma revealed there is a gap owned by Bitcoin.

"There are bubbles on Bitcoin, but not bubbles in blockchain technology," he said.

A bubble, or bubble, is a term in economics that refers to the trading activity of an asset in a large volume so that its price range goes far beyond its intrinsic value. According to Jack Ma, Bitcoin experienced that.
Although his attitude seemed anti with the cryptocurrency, but he did not turn a blind eye to the technology that runs all transactions using Bitcoin, the blockchain. Personally, he admits that he is quite confident in this technology.

The man whose real name is Ma Yun also said that blockchain is a solution to security and privacy, especially in internet-based finance that processes trillions of trillions of trades. Even so, he does not agree if this technology is applied to run Bitcoin for money.

"Social networks may not need blockchain, but we still have to switch to it, because otherwise it would be fatal," he said.

In line with the thinking of Jack Ma, Alibaba has been doing research on technology that functions like the ledger in recent years.

In fact, the e-commerce giant is also ranked first in the patent application against global application blockchain in 2017.

Over the past year, Alibaba has listed 43 blockchain application patents, with Bank of America being the closest competitor through 33 patents. The figures are based on data from IPRdaily, the provider of information on intellectual property.

In addition to Alibaba, a number of companies from other Bamboo Curtain countries have also implemented blockchain technology in various sectors. They are Xiaomi with blockchain based game titled Jiamitu, Cainiao who applies the technology in logistics delivery, Ofo through a blockchain research agency, as well as one of Mobike's business units.
Blockchain fever was not only penetrated into companies that have been said large, a number of startups that move in that field was also quite a lot. It can be seen from 41% of total funding to startup focused on pilot companies engaged in the field related to blockchain.

"Blockchain is a hot topic of conversation right now, but not all companies can implement this technology.Too many people are selling blockchain-based products, this is my concern," concluded Jack Ma.
Source

@herys