Alibaba’s Jack Ma: “Everyone Should Have a Bank Account.”

[XCoinCall]

Alibaba’s Jack Ma: “Everyone Should Have a Bank Account.”

https://news.bitcoin.com/techfin-alibabas-jack-ma-bank-account/

What do you think about this?

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[Sir Alpha_goy]

MOAR CHINA WILL MAKE BITCOIN SOAR!

BTCBTCBTCBTCBTCBTC

 

[amacar2]

I don't think he is suggesting anything related to bitcoin by saying

everyone should have a bank account

Don't know how author is connecting this thought to bitcoin, he just seem promoting use of digital form of currency like his alipay not bitcoin like cryptocurrencies 

[Dudeperfect]

Alibaba’s Jack Ma: “Everyone Should Have a Bank Account.”

https://news.bitcoin.com/techfin-alibabas-jack-ma-bank-account/

What do you think about this?

I will agree with Jack Ma's statement about having a bank account. We should not see it as fiat vs crypto because it has a much broader sense of financial inclusion.

In India, about 1 year ago, prime minister Narendra Modi introduced a scheme 'Pradhan Mantri Jan Dhan Yojana Accounts with Zero Balance' - Translation : Prime Minister Public Money Scheme.  There is a large number of people who are far away from financial literacy and thus they are not able to contribute to economic growth directly with their money.

Bank is a traditional way to learn about the structure of finance. You don't need much technology to use banking service. It is the step after cash economy and then next is crypto.

Personally, I want people to learn about crypto technology but not at the cost of being unaware of traditional financial infrastructure. One should not skip bank to learn about crypto, there must be a step by step transformation.

[robelneo]

I like this line "Ma has been aggressive with his ventures into Bitcoin and blockchain technology in the recent years.'
he might not directly promote the use of BITCOIN but you can sense the man is very much into Bitcoin and it's technology ..

Ma is a huge figure in e-commerce and and his flatorm alipay will have good effect in promoting Bitcoin.
I wonder beside Ma who are the other huge figure who are int o blockchain technology.

[traderethereum]

i am agree for the sentence "everyone should have a bank account" because its a way for us to save our money and make it grow with the bank. but its hard for people which don't have a stable income to save their money, because they need to fill they needs daily and will spend their money to buy something that related with their life like food and the other product.

[asse.sauga]

I think it is more like "everyone should not use paper-money anymore". Which is okei, if we have cryptocurrencies. 8 years ago this statement haven't worked.

[chesatochi]

i am agree for the sentence "everyone should have a bank account" because its a way for us to save our money and make it grow with the bank. but its hard for people which don't have a stable income to save their money, because they need to fill they needs daily and will spend their money to buy something that related with their life like food and the other product.

A lot of people don't have bank accounts and lot people survive with only 1$ a day on this planet. The vast majority of those people, they main focus is to provide food on the table for they family. To have a bitcoin wallet, they can start to learn and manage money and save it for they kids for example.

[Sithara007]

Nowadays, it is very difficult to survive without a bank account. So Jack Ma is perfectly justified when he said that. Holding your currency in physical cash is neither a safe nor a convenient option. Have your choice between Bitcoin and credit card.

[Milkduds]

i am agree for the sentence "everyone should have a bank account" because its a way for us to save our money and make it grow with the bank. but its hard for people which don't have a stable income to save their money, because they need to fill they needs daily and will spend their money to buy something that related with their life like food and the other product.

A lot of people don't have bank accounts and lot people survive with only 1$ a day on this planet. The vast majority of those people, they main focus is to provide food on the table for they family. To have a bitcoin wallet, they can start to learn and manage money and save it for they kids for example.

This is the point you is driving at by saying bank accounts are crucial,we should look to banking as a first step and then splinter off into bitcoin if possible. Its far easier to explain traditional banking as opposed to how to use bitcoin when we are thinking about the unbanked people in the world.
Most of them are not going to have a reliable internet connection near them and the best hopes would be a cell phone with sms capability to get involved in bitcoin.

Think he has thought this through and it just happens to be a aspect China welcomes.

[ikydesu]

He's gives a positive signal, i think the sentence should be "everyone should have their own bank"

This is good signal since he's already ventures into bitcoin. I can't imagine if bitcoin presenting to alibaba group holding and every investor who interested, the price will go skyrocket to the moon, considering limited supply.

i am agree for the sentence "everyone should have a bank account" because its a way for us to save our money and make it grow with the bank. but its hard for people which don't have a stable income to save their money, because they need to fill they needs daily and will spend their money to buy something that related with their life like food and the other product.

A lot of people don't have bank accounts and lot people survive with only 1$ a day on this planet. The vast majority of those people, they main focus is to provide food on the table for they family. To have a bitcoin wallet, they can start to learn and manage money and save it for they kids for example.

At least they need to go work for bitcoin to earn it, earn through faucet or similar earning ways is even can't use for pay transaction fees. Also people need to be creative, innovative, at least with bitcoin they will gives an easy way to them for having their own bank and as for long-term investment. Also manage money is not automatically do by bitcoin, it's personal capability each.

[Hazir]

Nowadays, it is very difficult to survive without a bank account. So Jack Ma is perfectly justified when he said that. Holding your currency in physical cash is neither a safe nor a convenient option. Have your choice between Bitcoin and credit card.

Bitcoin was created to battle current economic system, to get rid of 3rd parties like bloated banks, payment processors which are nothing but unnecessary deadwood for people.
Banks represents nothing but economic bureaucracy. I would gladly switch to bitcoin only payments if I could. Jack Ma is not promoting bitcoin he is promoting his own agenda.

[Shiroslullaby]

Say what you want about Jack Ma, but the guy is really smart.
He realized that there was a huge untapped emerging market in Asia, and did a lot of work to help new customers- many who live in poor, developing areas,
get access to internet and the ability to buy things online.
Obviously he did a lot of this for personal profit, but it also helps these areas get access to goods and services they didn't have even ten years ago.

[zahra4577]

Indian government is also encouraging its people to adopt cashless transaction which means everyone must have a bank account but it should not be taken as they are promoting bitcoin indirectly.
Similarly Alibaba's owner statement has no relation to Bitcoin

[yayayo]

First of all, be reminded that Bitcoin.com is a propaganda website under the control of Roger Ver, where he spreads disinformation and FUD with the intend of pushing his bigblock-altcoin UnlimitedCoin. In addition, the site contains frequent advertisements concealed as articles, that promote other services owned by Ver.

Therefore Bitcoin.com must be considered a frequent provider of non-news or outright lies.

What Jack Ma is thinking about bank accounts and their alleged relevance for people's life is totally irrelevant in regard to Bitcoin. Jack Ma has no power to force people to use bank accounts. With Bitcoin, bank accounts will become needless, no matter what Jack Ma says or what banks might hope for.

ya.ya.yo!

[nydiacaskey01]

Alibaba’s Jack Ma: “Everyone Should Have a Bank Account.”

https://news.bitcoin.com/techfin-alibabas-jack-ma-bank-account/

What do you think about this?

Jack Ma is not referring to Bitcoin because Bitcoin and traditional bank accounts to go along together but in real life having a bank account is one way of saving money. Unfortunately only a few see bank accounts a an option to place your hard earned money because of fear of possible bank run specially with the current economic situation around the world no bank can claim they are 100% sure they are not going to close.

[Doms]

The man is a genius so better listen to what he says. He is a visionary and a real hard worker. It is just sad that even educated people don't have bank accounts. Financial literacy should be part of the curriculum for kids as early as in their first years in grade school. The reason why many people are not too financially stable is that there is nobody to guide them with their finances. If at a young age, we are taught to save money in bank accounts or in some other form of deposit, we would all have the discipline to save for our future.

[MingLee]

The idea of giving everyone a bank account is not necessarily a bad thing, but by the looks of it (and the internal economics of it) it is more of a plan to get more money available for fractional reserve lending and stimulate the economy through having extra money to loan out at a lower risk of having people coming back and getting it.

Considering that it's coming from someone in Alibaba, it doesn't surprise me they would push for something like this. The cheap goods they sell would sell better with Chinese peasants buying their stuff too.

[Sithara007]

Indian government is also encouraging its people to adopt cashless transaction which means everyone must have a bank account but it should not be taken as they are promoting bitcoin indirectly.
Similarly Alibaba's owner statement has no relation to Bitcoin

The current Indian government is stepping up its fight against black money and tax evasion. I don't think that they will favor Bitcoin, due to its association with tax evasion and illegal transactions. And also, right now Bitcoin is trading at a premium of around 10% to 15% in India, due to the currency note demonetization.

[Skjöld]

Alibaba is not a good exemple. These are typically the easy rich people. They have so much money that they don't care about losing a bit because they are earning a lot regularly, like football players. They're so rich that they reimburse you without doing any kind of verification about your allegations of your product being faulted.