Alibaba Quietly Launched a Cryptocurrency Mining Platform

According to some new reports, Alibaba might be interested in entering the cryptocurrency mining market. A local media report claimed that the giant Chinese e-commerce and tech giant has launched a cryptocurrency mining platform.

The news first reported by Tencent News (a Chinese local news agency that the new platform is called 'P2P Nodes' and that the platform was registered it on the 10th of October in Nanjing, the capital city of Jiangsu province.

The report is quite curious considering that the founder of the company in the past said that cryptocurrency integration was not in Alibaba's plan. Furthermore, the company founder explained that Alibaba is not ready for cryptocurrencies. Even more so, the Chinese climate is not the best at the moment for new developments related to cryptocurrencies. 

Chinese officials have banned cryptocurrency exchanges last year as a part of their overall negative cryptocurrency-related stance. Chinese authorities have revealed several plans to limit or ban certain aspects of the cryptocurrency market.

Posted on: 17/01/2018