Ali Baba confirms Ripple (XRP) like remittance service for alipay

On June 25, Ant Financial announced it had launched the first blockchain-based e-wallet service under the supervision of Alibaba’s chairman, Jack Ma, and completed the first on-site transaction.

Users of Alipay Hong Kong can now use mobile phones to transfer funds from the Filcino Gcash wallet based on blockchain technology.

With the support of blockchain technology, cross-border remittances can now be credited in real time as if its were local transfers, 7 days x 24 hours continuously, convenient, secure and transparent.

Starting in Hong Kong, this service will be brought to the rest of the world in the future.

Jack Ma has expressed his opinion on the blockchain: he believes that the blockchain is not a gold mine, but a solution to solve security and privacy problems but many people use blockchain as a money-making tool.

Jack Ma said:

At the moment, there are still 1.7 billion people in the world who don’t have bank accounts, but most people own smartphones. The impact of the blockchain on the future of humanity could be far beyond our imagination.

Since 2015, Alipay has established strategic partnerships with 9 electronic wallets outside mainland China.

Jack Ma firmly supports blockchain technology, he has said more than once in recent months that while Bitcoin has become a bubble, for the blockchain it isn’t so

About Emanuele Brizzi 27 Articles
Emanuele is a freelance journalist, an expert in financial technology, he follows daily market trends. He graduated in economics in 2013 and has been interested in blockchain since he read about Bitcoin several years ago. The author loves to write about cryptocurrencies, his attention is focused on news that periodically emerge from new and existing projects. Email: brizzi_block@altcoinews.it

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