Alibaba Launches Cryptocurrency Mining Platform

The world’s popular Chinese e-commerce website, Alibaba, considered the world of cryptocurrency was never too far away. Alibaba recently launched a cryptocurrency mining platform known as the “P2P Nodes”, as per to the Coin Telegraph report.

The registration for P2P Nodes was supposedly finished in October 2017. Up until this point, very little has been known about the project, despite the fact that Finance Magnates proposes it may be founded on third-party mining. This may mean Alibaba will loan out space on its cloud platform for customers to mine digital currency.

The news of a major partnership like Alibaba wandering into cryptocurrency mining would be eminent in some parts of the world, but in China it is extraordinary. Most news about cryptocurrencies in China in the past months have been negative.

What’s considerably more unusual about the news encompassing the new platform is that Alibaba founder, Jack Ma, already communicated distrust about cryptocurrencies.

When Ma was asked his emotions on digital currency, he asserted to be “completely confused,” clarifying that “regardless of whether it works, the entire international standards on financing and trades will be totally changed.”

What exactly the new Alibaba digital currency mining platform will still to be seen. Thus, there is no sign at this time that the e-commerce company is wanting to launch its own cryptocurrency. When a company as influential and huge as Alibaba enters the cryptocurrency space, the repercussions for digital currency wherever could be tremendous.

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