If blockchain technology can’t be used to create a more environmentally friendly future, it’s “meaningless,” according to the founder of e-commerce giant Alibaba.

Jack Ma, who recently announced his retirement from the Chinese company, said during the World Artificial Intelligence Conference in China Monday that blockchain and internet of things technology are technological watersheds in the new “data age.”

“The data age is a major opportunity for manufacturers to reform the industry. But blockchain and IoT will be meaningless tech unless they can promote the transformation of the manufacturing industry, and the evolution of society towards a greener and more inclusive direction,” he said, as reported by local outlet CnBeta.

Alibaba is no stranger to blockchain. A recent survey found the company edged out IBM in the number of blockchain patents filed. One of its subsidiaries added blockchain to its logistics business. Yet another unit is using blockchain technology to let people send money to the Philippines at a lower transaction fee than what banks charge.

ThirtyK Staff
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