alibaba Alipay bitcoin Blockchain News Pakistan 

Pakistan Uses Blockchain Developed by $150B Alipay, But No Bitcoin

The government of Pakistan is reportedly using a blockchain platform developed by Alibaba’s Alipay. But, cryptocurrencies like Bitcoin remain banned in the country for payments. The initiative of the Financial Action Task Force (FATF) of Pakistan to utilize a blockchain application to combat money laundering demonstrates the typical “blockchain not Bitcoin” narrative pushed by central banks and large financial institutions. Blockchain Not Bitcoin Several months ago, Pakistan established a partnership with Telenor Microfinance Bank, a financial institution owned and operated by Alipay, a $150 billion fintech giant based in China…

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Blockchain Needs to Target Manufacturing

At World AI Conference 2018, Jack Ma, the co-founder and chairman of $414 billion e-commerce conglomerate Alibaba, stated that artificial intelligence (AI), blockchain, and Internet of Things (IoT) can all become meaningless if they fail to target the manufacturing industry. “AI, 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,” Ma said. Why Manufacturing? The speech Ma provided at World AI Conference was not exclusive to blockchain technology but…

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Bitcoin? Not For Me: Alibaba Founder Jack Ma

Get Trading Recommendations and Read Analysis on for just $39 per month. Chinese business magnate Jack Ma is confused by bitcoin and is not interested in learning more about the emerging cryptocurrency asset class, even though his company is pouring significant resources into blockchain development. Speaking with CNBC, the founder and executive chairman of tech conglomerate Alibaba, said that he was repeatedly asked about bitcoin at the World Internet Conference, which was held this week in Wuzhen, China. “I said honestly, I know very little about it, and I’m…

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