At the 2nd World Intelligence Conference held in Tianjin on May 16th, Ma Yun, Chairman of Alibaba Group's Board of Directors, said that the blockchain is not a bubble, but Bitcoin is a bubble. Ma Yun believes that in the face of blockchain, people should first think about whether it should be making money, but what value can it bring to society, government, enterprises and consumers in the data age?
Ma Yun said this reason. First, we don't have a deep understanding of blockchain technology. Today, blockchain is not a huge gold mine, but a solution to solve data and privacy security solutions and create value for society. Now many people regard it as something to make money, and that's it. The blockchain can provide many guarantees for the government, enterprises, and the people. This is where its true value lies.
I am optimistic about blockchain technology a few years ago.Ma Yun said that the individual is very optimistic about the blockchain technology, and began researching a few years ago. He said that he didn't understand the blockchain at first, but when he heard that the technology could solve privacy and security problems, he immediately realized its importance. Ma Yun said that Alibaba has several trillion transactions, and the importance of security is self-evident. Without security guarantees, it is necessary to die.
He also talked about Alibaba's research on blockchain. When he knew that the blockchain could solve the security problem, Alibaba began to research. Now it has become the world's most patented blockchain company, and China has a global blockchain. The country with the most patents.
The attitude towards Bitcoin has changed many timesThis is not the first time Ma Yun talked about Bitcoin, but it was the first time that Bitcoin was a bubble.
1. Not interested in BitcoinIn November 2017, Ma Yun was asked about Bitcoin at the event. Ma Yun replied at the time:
"I don't have much interest in Bitcoin. What I want to know is what Bitcoin can bring to society? But then, I think Bitcoin technology is very powerful."
According to Ma Yun, this time he should have studied the blockchain for several years and has already recognized the power of Bitcoin technology. He also said at the time that Alibaba and Ant Financial are advancing a cashless society, which coincides with Bitcoin's digital cash vision.
2. Don't know about BitcoinIn December 2017, bitcoin was already in full swing at this time, and the price has exceeded $15,000. At that time, the bitcoin bubble theory was crazy, and Ma Yun was asked about Bitcoin when he was interviewed by CNBC in Shanghai. Ma Yun said:
"I don't know Bitcoin at all, I am particularly confused. Even if he can really work, the rules of global trade and financial order will completely change. I don't think we are ready. So I still pay attention to Alipay, paying attention to RMB, USD, Euro. We have a team that studies the blockchain, but Bitcoin is not something I have to do, we don't care about Bitcoin."
3. Bitcoin is a bubbleThe Bitcoin bubble theory has once again become the headline today, because another person with global influence recognizes Bitcoin as a bubble.
Ma Yun believes that blockchain is not a bubble, bitcoin is, but bitcoin is only a small part of the blockchain. If the blockchain is done in a down-to-earth manner, it will inevitably bring value. "But now the blockchain is very hot, and there are people buying and selling blockchains, which makes me worry."
Whether Bitcoin is at a low or high point, the "bubble theory" has never disappeared. When Bitcoin hit a new high, some people said that bitcoin prices are so high, it must be a bubble. When bitcoin innovation is low, some people say that bitcoin is a bubble, so plunging or returning to zero is a matter of course.
Ma Yun is not the only heavyweight who thinks Bitcoin is a bubble. Not long ago, Buffett, Bill Gates, and Munger all condemned Bitcoin.
Buffett used to call Bitcoin a bubble, but this year he is no longer limited to this. In his interview with CNBC, he directly called Bitcoin "rat medicine."
Buffett's partner and friend Munger said that "transaction of bitcoin is immoral", he said bitcoin is a man-made speculative medium. This is antisocial, stupid and immoral.
Bill Gates said that to do empty bitcoin, he believes that as an asset class, investing in bitcoin does not produce anything, so you should not expect it to appreciate. This is a pure type of investment in the 'Bo silly theory'. The three great aunts are so enemies, it seems that bitcoin zeroing is its fate.
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