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 Lulu Yilun Chen Bloomberg
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
Jack Ma Embraces Blockchain for Ant But Warns of Bitcoin Bubble
Alibaba's Jack Ma says bitcoin is 'likely' a bubble while embracing its ...
Jack Ma Claims Bitcoin is a Bubble, not Blockchain - Google News ...
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.
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 ...
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.
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 ...
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 ...
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 ...
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
...
Jack Ma: Technology by itself is not a bubble, but bitcoin is possible
He actively explores the potential of blockchain but avoids cryptocurrency.
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 ...
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 ...
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 ...
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.
Ant Financial Launches Blockchain Based Money Transfer Services
Ant Financial recently launched a blockchain-based money transfer *service* between Hong Kong and the Philippines.
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 ...
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 ...
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 ...
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 ...
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 ...
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'.
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.
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 ...
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
No comments:
Post a Comment
rightwaystosuccess@gmail.com