Alibaba co-founder says I Like Crypto
The co-founder of the Chinese giant company Alibaba said that he likes Crypto.
The whole world witnessed how Chinese government authorities imposed highly restricted rules and guidelines against the crypto industry. Under the current laws and regulations, no one Chinese citizen may buy crypto assets, however, there are ways for Chinese citizens but doesn’t worth it because not every person may involve themselves in the crypto industry anonymously with tricks.
On 28 December, Joe Tsai, co-founder and executive vice-chairman at Alibaba, tweeted that he likes crypto.
This tweet of a Chinese citizen hinted at many types of things. And the main intention of this tweet was to hint that citizens in China love crypto but the government doesn’t.
Alibaba is a giant e-commerce company in China and its network has reached multiple countries. Tsai is popularly known as the closest person to Jack Ma.
On this tweet, Tsai didn’t respond to anything much about it, even some other Twitter users asked Tsai about this tweet but Tsai didn’t respond.
Hong Kong-based Citi executive James Lloyd also wrote a similar kind of statement on crypto on the Chinese social media platform Weibo. However, the network platform is under the strict standards guidelines of Beijing.
Alibaba is blockchain pro
However Chinese authorities banned all kinds of possible crypto-related services, so here it doesn’t worth considering the interest of the companies or any individual in crypto.
But here activities of Alibaba company showed that they are eager with the blockchain technology and its use cases.
In recent years, Alibaba has spent huge funds on the research and development of blockchain initiatives. And right now more than 7,000 patents have been filed by Alibaba and 631 have been already awarded.
Read also: Mexico planning to introduce its CBDCs by 2024
