Chinese e-commerce giant with its sights set on winning global dominance, the crypto world was never too distant.
Alibaba recently launched a cryptocurrency mining platform called "P2P Nodes," according to a report by Coin Telegraph with supporting evidence from around the globe.
As cryptocurrency has swept the world, more businesses have looked to get on board with the digital currency fever pitch and not get left behind at the same time.
But yet, Alibaba's new venture is not a cryptocurrency. So what is P2P Nodes really? And what does it mean for Alibaba and the world they clearly impact around them?
Registration Finished Quietly in October 2017:
Roughly 90 Days Ago!!
The registration for P2P Nodes was reportedly completed in October 2017.
So far, very little is known about the operation.
Finance Magnates suggests it may be based on third-party mining. It might mean Alibaba will rent out space in its cloud platform for clients to mine crypto.
In some parts of the world, news of a major corporation like Alibaba venturing into cryptocurrency mining would be more than big news, but in China it is huge news.
-- Most news about digital currencies in China in the past several months have been negative.
The Chinese government has cracked down on digital currencies and exchanges, seemingly to root out illegal activity and money laundering.
Case in point: ViaBTC, one of China's largest cryptocurrency mining pools, recently closed due to regulatory issues. (See also: China Intensifies Crackdown On Bitcoin Mining.)
Alibaba Leadership Skeptical of Crypto Currency:
What's even more strange about the news surrounding the new platform is that Alibaba leader Jack Ma has expressed skepticism about digital currencies in the past.
In a further development, fellow Chinese conglomerate Tencent has registered a “Blockchain-related trademark” for an entity referred to variously as ‘Ether Lock’ and ‘Ethernet Lock.’
In an interview with CNBC around the same time, Ma revealed that Alibaba had “spent a lot of efforts” researching Blockchain technology, but that Bitcoin is “not for him”.
When asked his feelings on digital currency, Ma claimed to be "totally confused," explaining that :
"even if it works, the whole international rules on trade and financing are going to be completely changed."
At this same time, also, Ma – whose net worth is more than $46 billion – quickly praised the rise of blockchain technology, suggesting his company had already looked into ways to use it.
What exactly the new Alibaba cryptocurrency mining platform will do is yet to be seen. There is no sign just yet that the e-commerce company is planning to launch its own digital currency.
Yet, when a company as big and influential as Alibaba enters the digital currency arena.... the ripple effects for cryptocurrency and business everywhere could be massive.
-- We are living in a global time where boundaries in the sand drawn by "leaders" against humanity currently still rule the day.
Investing in cryptocurrency and other Initial Coin Offerings ("ICOs") is highly risky and speculative. This article is not a financial or investment advice, as I say again. Many of us in the space are simply sharing news, information and thoughts.
I think there is lots of room for everyone to win.
And defeat the globalists and corrupt politics and monetary policy of the day crippling humanity with evidence literally everywhere, every day around us all.
-- Ticker Info at Time of Writing:
For Alibaba:
BABA
Alibaba Grp
184.05
-0.19%
Sources:
https://www.financemagnates.com/cryptocurrency/news/alibaba-launches-crypto-mining-business-china/
Related:
https://www.investopedia.com/insights/10-companies-owned-alibaba/
Thanks for reading, have a nice day.
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