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Alibaba may use blockchain for its cloud service platform

Tuesday 26 January 2016 09:18 CET | News

Alibaba has revealed plans to use blockchain in its new cloud service platform.

According to a release on 8btc, Ali Financial Cloud, a service of Alibaba Group, says that blockchain technology has the potential to provide the next upgrade of the financial industry, with its entrepreneurs experimenting with credit finance technology reconstruction and other infrastructure, which can affect and change financial transactional process.

The press release also said that people are more familiar with using the results of a blockchain technology – Bitcoin virtual currency and so on.

Speaking of smart contracts, it said that that the blockchain technology can also establish mechanisms for intelligent contracts on the internet.


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Keywords: Bitcoin, mining, cryptocurrency, digital currency, online payments, online security, online transactions, Alibaba
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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