10% of 2017’s Blockchain-Related Patents Worldwide Are Registered to Alibaba Group

The world of blockchain technologies can revolutionize the way today’s society conceives business, and many industries find themselves testing various solutions based on DLTs to improve their business scheme, allowing them to offer more efficient, transparent, fast, secure and economical services.

One of the most important businessmen in Asia is Jack Ma. He managed to build practically from scratch what is one of the largest e-commerce companies in the world: Alibaba group.

In his quest to make Alibaba a commercial empire and not be left behind in the career of business, Alibaba has decided to bet on the use of blockchain technologies in various sectors related to its industry. This strategic move seems to confuse many since Jack Ma himself has commented on several occasions that he does not have enough knowledge about Bitcoin and has warned about a possible crypto-bubble.

However, when it comes to blockchain, his position is very similar to the official position of the country where he was born: Pro-Blockchain / Anti-Cryptos. According to a report published by Nikkei , Alibaba Group Holding has filed more than 10% of the world’s patent applications for DLTs. In this way, it could be a world leader in the development of applications and technologies based on blockchain in the near future.

Speaking About Bitcoin, Jack Ma previously said tha altough he was not too interested about it, he followed BTC very carefully. On the other hand, he said that blockchain technology is “very powerful”

For Bitcoin, I don’t have much interest, what I want to know is, what can bitcoin bring to society?” But anyway, I think blockchain technology is very powerful… But bitcoin, we look at it in a very careful way. I am not very familiar with Bitcoin; I am always curious

Alibaba Group: Focusing on Applications for Blockchain Technologies, Financial Solutions Not Included… Yet

According to Nikkei, the People’s Bank of China, which holds more than 60 registered patents. is the only institution that surpasses Alibaba Group when it comes to blockchain patents

Jack Ma is an enthusiast who has seen the potential of blockchain technologies for the development of the industry:

“Blockchain technology can help overcome the challenges of security, sustainability, and inclusion,” said Jack Ma said at the launch of the company’s blockchain-based remittance service in Hong Kong 3 months ago. “It could change our world more than people can imagine.

When it comes to electronic payments, Alibaba continues to focus on traditional systems, however, its payment solution, Alipay continues to consolidate as a form of value transfer increasingly used. Other widely accepted alternatives in Asia are Tencent’s WeChat Pay and bank payments via QR Codes, SMS and biometric data.

Alibaba has patents that apply to the areas of finance, healthcare, health, logistics, e-commerce, and others.