January 18, 20182min773

Chinese giant Alibaba joined Crypto world

More and more companies are using blockchain technology and invest in cryptocurrencies. The latest company that entered into this world is Chinese e-commerce giant Alibaba.


 

Reports told us that this online shopping company is launching its own crypto mining platform called P2P Nodes. In this month China also vowed to take the measures on crypto mining, peer-to-peer trading, local and international trading platforms, services and groups.

P2P NODES

But there is only a little information about the real intention behind their move. Some have speculated that the system could provide cloud mining services for its customers. They registered P2P Nodes in October 2017, one month after the government banned crypto exchanges in the country.

Local media posted the story, which said:

Alibaba has recently launched a virtual currency mining platform “P2P node”, from the terms of the service agreement terms platform, the main operating platform is Alibaba East China Ltd. It is reported that the company on October 10, 2017, has been completed registration, registered in Nanjing.

Alibaba also suggested that they will use blockchain technology and cryptocurrency in the company’s e-commerce platform in the future.

 

ALIBABA WON’T DEVELOP IT’S OWN COIN

Chief of Alibaba – Jack Ma, has reservations towards the crypto world. This apparent U-turn is a bold move in a country that prohibits all forms of crypto trading.


The billionaire mogul said:

 

I said honestly, I know very little about it, and I’m totally confused. Even if it works, the whole international rules on trade and financing are going to change completely.

Currently, there is no hint that this online shopping company is planning to develop its own cryptocurrency. But Alibaba is obviously looking into crypto technology to improve their business operations.

 


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