Alibaba’s Chief Strategist Hints These Companies Will Hit the Big Time in the Blockchain Era
Zeng Ming, the chief strategy officer of Alibaba Group said on January 21 that Alibaba represents the beginning of network collaboration, while blockchain is exactly the kind of technology that supports network collaboration. Blockchain acts as the underlying technology of mesh collaboration, and it is the most important innovation as well as the driving force for value creation in the next decade.
Mr.Zeng shared his views in a newly-created wechat group called “Three o’clock Sleepless Blockchain” which brought together nearly 500 heavyweights from China’s blockchain area. Since the second day of Chinese New Year, group members, including ZhenFund founder Bob Xu Xiaoping, Qtum co-founder Patrick Dai, partner at Fenbushi Capital Bo Shen, had sparked a fierce debate over blockchain- related “Technology, Valuation, Investment and Future”.
“The cost of trust is one of the most important costs in any market. Blockchain allows a large crowd of people to reach consensus at a low cost, and dramatically lower the cost of trust as a result. The technology will introduce new markets which are likely to provide previously scarce but valuable service. This is the real supply-side revolution.”
In his opinion, the current sharing economy is not the real one as it is nothing more than the sharing of resources. What can really bring a great value is co-creation, P2P model of the future and a multiplayer collaborative network. And Such model is surely propped up by blockchain .
“I do not review many projects, but I am looking forward to seeing some innovative ones in this field.”
Additionally, he pointed out that Chinese tech trio of “BAT” (Baidu, Alibaba, Tencent) have not made any major moves in blockchain because the internal innovation mechanism of them is not in line with the market. At present, large companies have not found a suitable entry point yet. Thus, the companies that are able to find a huge opportunity in blockchain applications will hit the big time and become conglomerates.