Alibaba is launching mining business in China
The largest Chinese online store Alibaba launched a platform for mining. According to the local media, the company registered the cryptoexchange platform “P2P Nodes” on October 10, 2017 in Nanjing, the capital of the Chinese province of Jiangsu.
According to unconfirmed reports, the platform will work in the “cloud” mode, providing the infrastructure to its customers.
This news appeared against the backdrop of statements by the Chinese authorities about a complete ban of mining and circulation of cryptocurrency in the country. However, Alibaba is planning to negotiate with the electricity suppliers to ensure the operation of the platform.
Given the company’s loyalty to the Chinese authorities, perhaps its interest in the crypto industry will be an important factor in making a final decision on its ban in China.
There is no official confirmation from Alibaba yet. Previously, the head of Alibaba, Jack Ma repeatedly stated that he was not very interested in the topic of cryptocurrency, but in the long term his company could engage in the development of Blockchain technologies.