Jack Ma on Blockchain: Chief Exec Thinks Blockchain Will Be “Useless” If It Doesn’t Help the Environment

Jack Ma, Alibaba’s Executive Chairman, has never been shy about his thoughts on the newest and latest technology. The Chinese businessman, investor, and philanthropist has been a long-proponent of blockchain technology but recently made a firm statement on its future. Let’s take a closer look at Jack Ma on blockchain.

Ma believes that blockchain and other advanced technologies still need to prove they can help society evolve in a “greener and more inclusive” direction, local news outlet cnBeta reported.

Ma told those present at the World Artificial Intelligence Conference held today in China:

“The data age is [a] major opportunity for manufacturers to reform the industry. But blockchain and IoT will be meaningless tech unless they can promote the transformation of the manufacturing industry, and the evolution of the society towards a greener and more inclusive direction.”

Ma’s keynote focused mainly on the challenges and the misperceptions around Artificial Intelligence (AI). He did, however, reserve a place for the internet of things (IoT) and blockchain technology in his speech.

Ma didn’t really elaborate on how he feels blockchain can be more eco-friendly and inclusive.

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The Chinese billionaire just recently celebrated his 54th birthday and announced his retirement from his Executive Chairman position in his company Alibaba. Ma will remain on the board of Alibaba but would like to focus more on teaching.

“The thing is, I don’t want to die in my office. I want to die on the beach,” Ma told Charlie Rose in an interview.

Ma is one of eight founders of Hupan University, and it is likely he will teach at the university after his retirement. Hupan only accepts 30-40 applicants a year and focuses on entrepreneurship and innovative technology.

Blockchain technology is likely an area of focus at the university, as Justin Sun, TRON’s founder, just graduated as the youngest graduate from Hupan University.

What are your thoughts on Jack Ma’s take on blockchain?

Featured Image: wikimedia.org

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