Who Will be the Next Alibaba for Blockchain?
What’s the revolutionary product or technology that could strike a blow to Internet and tech giants, like “BAT”(Baidu, Alibaba, Tencent) in China?
In the views of many investors, blockchain has that power.
At the China Angel Investment Summit held on January 12, Xitai Sheng, the founding partner of APlus and an experienced investment banker shared his insights into investment in 2018.
In his opinion, the biggest investment challenge in 2018 lies in‘reconstruction’. The core point of blockchain, the technology behind bitcoin, lies in the reconstruction of modes and “cognitive revolution” rather than in the technology itself. The fourth industrial revolution – or Industry 4.0 is coming, in which Artificial Intelligence(AI) represents the productivity and blockchain brings new productive relationship. These emerging technologies will reshape our living in the future.
Influenced by this technology wave, BAT is quite possible to become ‘obsolete’.
The veteran investor also stressed that , “Nearly every entrepreneur dislikes BAT( Baidu, Alibaba, Tencent) and wants to ‘eliminate’ them, and I also support these startups. I think if blockchain technology is used properly, it could be a great chance.”
Zhe Kuan Fu,the chairman at Shenzhen QF Capital Management Co., Ltd., shared a similar opinion. He deemed that the future of the internet is likely to be smart and trustworthy, and humankind could enter a trustworthy internet world through blockchain and create a next BAT.”
As BAT’s blockchain battle is underway, will the emerging blockchain starups really have a good opportunity to “kill” the three internet conglomerates?
I think this is a high probability event. Blockchain technology has the ability to reshape relations of production and its power to transform the world is unpredictable.
At present, the blockchain projects launched by BAT are all aimed at the enterprise level. That means, their blockchain businesses have not tapped into the mass market which is larger than the previous one.
Thus, some analysts believe JD.com、Qihoo 360 and Xiaomi, the three newly-rising tech giants, have potential to beat BAT as they have input large amount of resources to develop blockchain applications and created much fanfare.
Who is most likely to be a BAT or Google for Blockchain?