Ma Yun: Blockchain can change the world beyond people's imagination

According to Bloomberg, while Ant Financial announced that the world’s first cross-border remittance service based on blockchain technology was on the line, Ma Yun reiterated that Bitcoin is a potential bubble and he reiterated his cautious attitude toward cryptocurrencies. , Indicates that its instability should be noted.

Ma Yun praised the distributed ledger that Bitcoin relied on, but he warned that the digital currency itself may be driven by speculation.

Bitcoin set a low point of 2018 on Sunday and then picked up a bit, highlighting the volatility of regulatory oversight. Even global central bank officials and business leaders challenged their viability.

"Blockchain technology may change our world far beyond what people now imagine," Ma Yun told reporters. There are a large number of Filipino workers and domestic servants. Through this technology they can send money back home on a regular basis. 'However, Bitcoin may be A bubble. '

Ant Financial Services is a subsidiary company of Alibaba. It is supported by some well-known companies in the global financial and investment fields and has been exploring blockchain technology for many years. The money transfer service marks the Internet giant's use of blockchain technology in mainstream finance. The first case.

Although ant financial mergers and acquisitions have been blocked by FX International, Ant Financial now wants to build better products and transfer blockchain remittances to the Philippines outside of Hong Kong. However, Ma did not explain the details.

'Traditional financial institutions provide services for 20% of people and earn 80% of their profits. New financial institutions should provide services for 80% of people and get 20% of profits,' said Ma Yun.