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#AsiaD: Jack Ma Worries About Virtual Currency Collapse; On Aliyun Mobile OS, Yahoo, Fake goods & More

Speaking at the AsiaD Conference in Hong Kong, Alibaba Chairman Jack Ma said that the next big wave will be the mobile Internet, and China needs its own mobile operating system to help lower the cost of mobiles. "Our people spent time on it, and it is not beautiful, but when a baby is born it is not beautiful, it takes time. China needs an OS to lower the cost of devices. We will pay any price to move this industry on." On being asked why he thinks Google or Windows can't do it, and why Alibaba did its own OS, he said "Let them do it. Ebay was doing well, but we still did it. We are looking to enter that market, making sure that the total cost of mobile goes down with innovation. We are building a platform for making Taobao and Alibaba on mobile. The mobile Internet has such huge potential," he said. "A lot of companies are talking about cloud computing. We have so much data from small business, and from Alipay transactions. Data will be so important to our small business, so lets invest on it. We're selling services. On Online currencies/ Virtual money & Online Gaming: "Honestly, I may not be right, but when we talked about it internally, I was strongly against it. If you're doing business in China, RMB is the main currency. Virtual currency - I worry about that. I don't want to have thousands of coins that I don't want to…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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