TechFin: Alibaba’s Jack Ma Notes “Everyone Should Have a Bank Account.”
‘TechFin’ is a term coined by Jack Ma, the billionaire Chairman of Alibaba Group Holdings. TechFin came about as Ma envisions “everyone should have a bank account”. This vision is similar to that of the bitcoin community — that is, to bank the unbanked. As Ma brings forth his vision, what could be in store for bitcoin? According to the South China....
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While Alipay is planning to implement Blockchain technology for the long-term benefit of its consumers, Alibaba’s Jack Ma has disclosed his company’s plan to build up an EWTP – an Electronic World Trade Platform – to support young people and small business. Business designed by businessmen, not bureaucrats. Its idea is to improve on overall globalization which he says has yielded positive results for both China and the world by making more room for small businesses rather than the current system run by the World Trade Organization, hereinafter WTO, which was developed to protect corporate....
Chinese e-commerce behemoth Alibaba has surprised the crypto world by launching a non-fungible token marketplace. According to the South China Morning Post, Alibaba’s NFT marketplace not only allows users to buy and sell NFTs, but also license intellectual property (IP) copyrighted by blockchain technology. The marketplace is targeting creators such as musicians, writers, artists and […]
Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China. China’s central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key objective, according to an official at the People’s Bank of China.Mu Changchun, head of the People’s Bank of China’s digital currency research institute, claimed that China’s digital yuan is needed to ensure financial stability in case “something happens” to AliPay or WeChat Pay, the South China Morning Post reports.Speaking at an online panel....
Want to be able to buy Bitcoins at your local bank? Now, if you live in the United Kingdom or Mexico, you can. Bitcoin trading service Wall of Coins has begun serving British and Mexican customers. Wall of Coins works by anonymously and securely matching buyers and sellers of Bitcoin. Sellers provide a bank account number and SMS-capable mobile phone number, set a rate, and send Bitcoin into an escrow account. Buyers then deposit the desired amount into the seller’s account, after which the Bitcoin is released from escrow and sent to the buyer. Robert Genito, CEO of Wall of Coins, is happy....
Over 130,000 signatures have been received for an online petition asking the Bank of England to change the material used to make its new £5 notes. New notes. The new £5 notes were unveiled with great fanfare at the Blenheim Palace in June 2016 and were displayed to the public at various events across the UK over the following months. The new note even has its own website and was launched into public circulation in September 2016, with an expectation to gradually the old £5 notes. The old £5 notes will cease to be legal tender and will not be accepted for transactions from May 2017 onwards.....