Roundup: 18/09/2018 – xRapid close to launch, Jack Ma has advice for blockchain industry

Jack Ma: Blockchain should focus on manufacturing industry

During the World AI Conference, Jack Ma, the co-founder and current chairman of Alibaba, the world’s largest e-commerce platform. Experts estimate the Chinese company to be worth more than $414 billion. Ma said that blockchain, artificial intelligence, and the Internet of Things could soon lose value. Unless they focus on revamping the manufacturing industry.

Jack Ma stated, “AI, Internet of Things, and Blockchain will be meaningless technology in the 21st century if they do not promote the transformation of the ever-growing manufacturing industry. He also mentioned that “the technology should contribute positively towards green or planet friendly innovations.”

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People’s bank of China warns citizens of crypto

The Chinese Central bank issued yet again a warning regarding cryptocurrencies. The Chinese government has an ambivalent stance on cryptocurrencies. While the communist government treats blockchain and crypto projects from China in a favorable and supportive way, on the one hand, trading cryptocurrencies and investing in ICOs is strictly forbidden on the other hand. However, China allows some blockchain projects to operate.

Ripple’s xRapid to launch within a month

A representative of Ripple announced that xRapid is closing in on its launch. xRapid relies on XRP to process international transactions within seconds. However, the financial service also relies on a high fiat trading volume to be succesful. The current geopolitical situation around Iran which involves both the USA and the EU could prove beneficial for the launch of xRapid. According to Sagar Sarbhai, Ripple’s Head of regulatory relations, xRapid will launch in a month.