Malaysia Focuses on FinTech, Gives Alibaba Founder Jack Ma Important Role
Jack Ma, the founder of the $239 bln e-commerce conglomerate Alibaba, was appointed by the Malaysian government to mentor companies in the various sectors of its digital economy. In early November of last year, Malaysian Prime Minister Najib Razak officially announced Ma’s important role in the country’s growing e-commerce industry as an adviser and mentor. Razak stated that the partnership between Ma and the Malaysian government will allow the nation’s e-commerce industry to grow exponentially towards the right direction. Razak stated: "We will be in partnership with Jack on the path....
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Earlier this year, Prime Minister David Cameron expressed his desire to make UK the world leader in the fintech sector by 2020. Chancellor George Osborne has also said that he wishes to makeUK the global fintech capital. However, as the year comes to a close, their plans are being dented by the Bitcoin hotbed that is China, which has surprisingly bagged 7 spots in the top 50 fintech companies list published by Fintech Innovators. Two of these companies, ZhongAn (#1) and Qufenqi (#4), feature in the top 5. ZhongAn is an online insurance company which has the backing of Jack Ma, the founder....
Malaysia is one of the most recent countries to look at its current regulatory guidelines and come up with changes to take part of the FinTech revolution. Keeping in mind how Bitcoin is a part of FinTech as well, these changes will have a rippling effect on cryptocurrency adoption. FinTech Regulation is a Double-edged Sword. Various countries around the....
A representative for the Jack Ma Foundation confirmed to reporters that the businessman had “participated in the online ceremony of the annual Rural Teacher initiative event on January 20.” Jack Ma, the founder of Chinese e-commerce group Alibaba, has made his first public appearance since October, bringing almost three months of intense speculation about his possible whereabouts to a close.In a new video clip published online on Jan. 20, Ma was reportedly shown visiting a school rebuilt by his foundation — a glimpse that was enough to spur Alibaba's Hong Kong-traded shares to rise by....
Bitcoin firm BitX, which focuses on bringing bitcoin services to emerging markets, has added Malaysia to its stable of exchanges. The new exchange, which has been operating live for two weeks now, allows Malaysians to link local bank accounts for both deposits and withdrawals in the local currency, the ringgit. In keeping with BitX's goal to provide local services with local staff, customer support is also available in the country's official language, Bahasa Malaysia. BitX CEO Marcus Swanepoel told CoinDesk that Malaysia is a "very tech savvy market", with bitcoin trading already active at....
The current conservative international financial system doesn't suit young people or young economies, says Ma. Jack Ma, the now-retired founder of Alibaba Group, recently spoke to a crowd of bankers and regulators at the Bund Summit in Shanghai about the role digital currencies will likely play in the future global financial system:“Digital currency could create value and we should think about how to establish a new type of financial system through digital currency.”He opined that the current financial system governed by Basel Accords is too conservative and does not fit China’s growing....