ABBC MC Wallet

For those that don’t know, blockchain technology built on a decentralized network, meaning no single “party” owns all the data. Instead, data is tracked and stored on a public ledger (block after block connected in a chain) that cannot be tampered with or altered later—since each block is verified by all the other blocks on the chain.

Nationwide and global companies, all the way down to small-shop operators, tend to use private and centralized software systems and solutions. Banks and the modern financial system is a perfect example.

If I want to send you money, I have to go through a bank in order to verify the transaction—the bank being the “centralized” hub for verification. But through the blockchain, the very building blocks that power cryptocurrencies like Bitcoin and Ethereum, that centralized entity no longer has a purpose. It doesn’t have a job. There is no need for its services because the blockchain does the verification automatically.

Alibabacoin foundation is currently preparing an online shopping and a crypto exchange business that will combine all platforms and enable them to use a more facilitated payment structure and a more safe method to keep and distribute cryptos.