Jack Ma, a firm believer of globalization and free trade has emphasized to use blockchain technology as it's the safest way to perform money transactions.
Earlier today, Jack Ma spoke before students, educators and businessmen at De La Salle University Manila, Philippines. He was awarded a Doctoral Degree in Technopreneurship, Honoris, Causa.
Despite of its being a third world country, the Philippines has many users of mobile phones. Although divided into more than 7,100 islands, getting connected has become easier as long as cellular phone signal can reach those places. Given this scenario, he stressed the importance of INCLUSIVE FINANCING to be utilized in the Philippines especially to help the small medium businesses.
What are the advantages of this cashless society in the Philippines?
- Business transactions can be made easier even in far flung islands where banks cannot reach.
- There is no corruption that can stain the system.
He further stressed that half a billion of people in China today uses mobile phone payment, Alipay. It is the most advanced payment system in the world at the moment.
Asked about EWTP, Electronic World Trade Platform, he envisions a world where these things happen: global pay, global buy, global sell, global travel, global delivery with transactions happening in 24 hours in an online marketplace.
EWTP Project will be launched in Malaysia. In 20 years time, his goal is that anyone from any place in the world can sell or buy products within 72 hours using a mobile phone.