Moreover, in a review of the year 2015, Ali Financial cloud, a service of Alibaba Group, describes the possible benefits of using the Blockchain. It states that they “are actively exploring the profound impact of [Blockchain] technology in the financial sector.”
During the conference, Alibaba also released a whole chain of products for data collection, processing, analysis, etc, including Ali cloud platform. ChangLiang Xu, senior director of Aliyun, the cloud computing unit of Alibaba Group, commented: “These are industry-leading technologies for at least three years”.
Blockchain and cryptocurrency in China and Asia
Bitcoin exchange Huobi CEO Leon Li and co-founder Dylan Du participating in the Yunqi Assembly Shanghai summit have also confirmed the announcement of Alibaba Financial on their plans to provide a cloud service platform based on Blockchain technology, in an e-mail toCoinTelegraph.
“It means larger market and regulation support for cryptocurrency exchange platforms, as well as more strict legalizations and corresponding policies. It’ll be an industry reshuffle forcryptocurrency this year.”
Source : http://cointelegraph.com/news/alibaba-blockchain-cloud-service-announcement