Bitcoin Forum

Chinese e-commerce (ftp://Chinese e-commerce) giant Alibaba has launched a surprise cryptocurrency mining platform, unconfirmed sources surfacing today claim.

CnLedger, a Twitter-based local crypto news information provider, relayed the report from Chinese Internet service qq.com, stating Alibaba’s ‘P2P Nodes’ platform had “launched” after a registration in October 2017.

According to the available material from cnLedger, Alibaba “may incorporate” P2P Nodes in its e-commerce platform “in future”:


In a further development, fellow Chinese conglomerate Tencent has registered a “Blockchain-related trademark” for an entity referred to variously as ‘Ether Lock’ and ‘Ethernet Lock.’


The moves run contrary to the current regulatory narrative coming from Beijing. Authorities have recently made known a desire to slowly reduce participation in Bitcoin mining, while regulators are also moving to eradicate the last traces of centralized crypto-to-fiat trading.

P2P Nodes also represents an apparent U-turn for Alibaba founder Jack Ma, who in December declared that the world was “not ready” for engagement with cryptocurrency.

In an interview with CNBC around the same time, Ma revealed that Alibaba had “spent a lot of efforts” researching Blockchain technology, but that Bitcoin is “not for [him]”.

Cryptocurrency markets continue to feel the pressure in part from China’s latest regulatory moves, with Bitcoin losing almost 15% and altcoins much more in the past 24 hours’ trading.

China's thunderbolt launch of the "play customer cloud" in the market is in short supply!
Many Chinese companies have followed the block chain, but these so-called "blockchains" have been studied within the scope of government regulation.
After all, China's market is big and profitable!

This guys have the power to dispute the ban and the technology to bring something new up. P2P payments enabled in a country that cryptocurrency is of so much interest can definitely open up the field for cryptocurrencies, I don't expect them to adopt bitcoin either, maybe they are looking to develop their own blockchain used for massive e-commerce as China is a huge player on this market.

Jack Ma is a biggie there so this probably have the blessings of the CPC. Same goes for Tencent that has been offering payment services for a long time already. All of these big companies answer to the Chinese government and share all their data with them.