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

[X-ray]

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.

I'd appreciated jack ma alot from my deepest heart honestly by reading some of his stories about his pasts but it's now seem that jack ma being a bit " controlled " by the chinese government that makes he's begin to limit something on the services his company was offered such as banning bitcoin on alibaba divisions

[michkima]

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.

Instant rich or not. People should still have banks. How do you expect to store that much money? It's practical to still have a bank. Whenever Jack Ma, would have a large deal he would pay for it using checks or bank transfers. If he didn't have a bank, he would have to physically bring his money to whoever he needs to pay. There are more risks and inconveniences not having banks than having one.

[Khazeter]

MOAR CHINA WILL MAKE BITCOIN SOAR!

BTCBTCBTCBTCBTCBTC

 

That is right. The bitcoin is everybody own bank. So Everybody will get some bitcoin to manage the money himself.

[alani123]

Jack Ma is no stranger to bitcoin. Alibaba group was exploring blockchain options.earlier this year and have been involved in some BTC related ventures too

https://bitcoinmagazine.com/articles/chinese-e-commerce-giant-alibaba-explores-blockchain-based-cloud-service-platform-1454360796

A bank account is the cornerstone of financial transactions in capitalist society at the moment and bitcoin's adoption has so far been complementrary to that for IRL transactions. Jack knows that bank services are coming first for the developing world.

[Xester]

Jack Ma is no stranger to bitcoin. Alibaba group was exploring blockchain options.earlier this year and have been involved in some BTC related ventures too

https://bitcoinmagazine.com/articles/chinese-e-commerce-giant-alibaba-explores-blockchain-based-cloud-service-platform-1454360796

A bank account is the cornerstone of financial transactions in capitalist society at the moment and bitcoin's adoption has so far been complementrary to that for IRL transactions. Jack knows that bank services are coming first for the developing world.

Jack Mas statement of bringing the bank to the unbanked with the use of bitcoin is a shocking news that will bring two possible result its either positive or negative. The negative thing maybe is the rise of the monopoly, the bitcoin billionaires will really become more richer and will have a control on the market if bitcoin will be engaged in banks. THe positive thing would be that our bitcoin will be more secured and the value of bitcoin will be known in the world faster through the presence of banks and also the super inflation on bitcoins price is possible to happen.

[michkima]

Jack Ma is no stranger to bitcoin. Alibaba group was exploring blockchain options.earlier this year and have been involved in some BTC related ventures too

https://bitcoinmagazine.com/articles/chinese-e-commerce-giant-alibaba-explores-blockchain-based-cloud-service-platform-1454360796

A bank account is the cornerstone of financial transactions in capitalist society at the moment and bitcoin's adoption has so far been complementrary to that for IRL transactions. Jack knows that bank services are coming first for the developing world.

Jack Mas statement of bringing the bank to the unbanked with the use of bitcoin is a shocking news that will bring two possible result its either positive or negative. The negative thing maybe is the rise of the monopoly, the bitcoin billionaires will really become more richer and will have a control on the market if bitcoin will be engaged in banks. THe positive thing would be that our bitcoin will be more secured and the value of bitcoin will be known in the world faster through the presence of banks and also the super inflation on bitcoins price is possible to happen.

Wow. I didn't know about these developments. If he did go with bitcoins, he would no longer need banks, and then his whole business would use Bitcoins. That would be big news for the Bitcoin community! If it does happen, Bitcoin prices will inevitably shoot up. Bitcoin will be adopted faster, and the world will most probably also follow suit. If Alibaba would be successful in implementing bitcoin in their platform for sure eBay and other companies will follow!

[buwaytress]

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.

Absolutely correct. Financial literacy is still very low where it is needed the most. My grandmother STILL keeps cash in a secret stash (which is not so secret) as she has never trusted banks since she lost money in the 2nd World War.

Malaysia is also encouraging kids and students to already start owning debit cards (given free of charge) simply to introduce the idea of online payments.

I think those sites online that promote bitcoin (they ask you to open a new wallet, and they send you free satoshi) are also great.

[pereira4]

The only and only way you can achieve such a feat is by the means of bitcoin. All otehr technology will never be able to bank the 4 billion unbnaked people that exist all over the world. Therefore, if he really wants to see this happen, he should start investing in bitcoin and guaranteeing that core + segwit + lighting network roadmap happens.

[n691309]

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?

Alibaba as far as I know owns or has a collaboration with AliPay which is similar to paypal or something else which you link the card to them and you pay with one click through AliPay (at least in Aliexpress).

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.

Other big companies should learn from AliBaba they sell billions of things within a day (remember 11.11)

[Nahl]

i have bank accounts but currently i more prefer to using cryptocurrency and in my country there are monthly fees if we using bank so even though you didn't do any transactions using your money but bank will still cut of the fees and honestly i don't like it

[Dahhi]

The adoption of bitcoin is a process as the whole world is gradually moving towards cashless transactions.
I believe once we become fully cashless, bitcoin will go mainstream and banks might no longer be needed.
But we'll need institutions to grant loans so there should still be some form of banking system in place.

[Khazeter]

The adoption of bitcoin is a process as the whole world is gradually moving towards cashless transactions.
I believe once we become fully cashless, bitcoin will go mainstream and banks might no longer be needed.
But we'll need institutions to grant loans so there should still be some form of banking system in place.

It is difficult to adopt the bitcoin if the transaction confirmation is too long.

[sportis]

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?

At first as we know that using alibaba site you need a bank account. Without that you can not shop online. Secondly maybe your question is why Jack Ma does not support bitcoin against banks? I believe that has many bank stocks he had not invest in bitcoin startups and so on. Many businessmen can ally with the devil if this is profitable for them.

[wxa7115]

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?

A bank is nothing more than a provider of a service and bank accounts are some of the services they offer if someone does not want to get those kind of services by banks I don't know why we must compel them to use it, since at the end of the day it is our decision to use the services provided by a business or not.

[maydna]

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?

A bank is nothing more than a provider of a service and bank accounts are some of the services they offer if someone does not want to get those kind of services by banks I don't know why we must compel them to use it, since at the end of the day it is our decision to use the services provided by a business or not.

yes i am agree with this and this is why we need bank to make deposit and withdraw our bitcoin, without having an account in the bank, where we can sell our bitcoin and how the seller will sending the money to us? but if we are having an account, then its make simple for us to receive and sending the money although there is always need a time before its completed the transaction.

[rizkyhiw]

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?

A bank is nothing more than a provider of a service and bank accounts are some of the services they offer if someone does not want to get those kind of services by banks I don't know why we must compel them to use it, since at the end of the day it is our decision to use the services provided by a business or not.

yes i am agree with this and this is why we need bank to make deposit and withdraw our bitcoin, without having an account in the bank, where we can sell our bitcoin and how the seller will sending the money to us? but if we are having an account, then its make simple for us to receive and sending the money although there is always need a time before its completed the transaction.

How if then just use bitcoin only, not needed fiat money
You think it's a must for everyone to have a bank account? While bitcoin has been fully adopted
It's just the matter of time people can accept bitcoin as a real currency
You just neex to keep supporting bitcoin no matter what.

[izanagi narukami]

Having your own bank account is my top priority as bitcoin just consider as alternate investation.
I'm glad that even famous chairman like Jack Ma also notice bitcoin as well , so I won't be surprise why bitcoin value keep increasing until the end of this year

[shualingfa]

For Ma's Alibaba, everyone has a bank account, you can spend on the internet. He did not specify bitcoin.

[pooya87]

as far as banks go, we all need them for our fiat transactions since that is a part of our society and we can not remove it. but that doesn't mean we don't have any other options. there are many different banks and then there is bitcoin where you are your own bank. when everyone start using bitcoin someday we can all become our own banks and get rid of the today's banks for good.

[wxa7115]

as far as banks go, we all need them for our fiat transactions since that is a part of our society and we can not remove it. but that doesn't mean we don't have any other options. there are many different banks and then there is bitcoin where you are your own bank. when everyone start using bitcoin someday we can all become our own banks and get rid of the today's banks for good.

It is very doubtful we will ever be able to get rid of banks at all, but when bitcoin becomes more widespread then we can begin to supplant some of the things we do with banks with our bitcoin wallets.