Internet Tycoon belonging to China, Jack Ma and also the founder of Alibaba which has emerged as an e-commerce giant unveiled the future where the e-payment will take a new turn. The facial recognition system will be incorporated with e-payment. This was displayed by the tech giant founder at CeBIT IT fair conducted in Germany.
Jack Ma, inspired by the style of Silicon Valley pioneer, showed off the technology that uses facial recognition as a digital signature. According to the latest Alibaba news, the facial recognition can be performed from a selfie captured by a smartphone. He also said that he just used the technology to send a gift to the event’s host city’s mayor. The even had been in Hanover.
Ma is a former teacher and has been known for thinking beyond the borders. At CeBIT, he was the essential and leading speakers. He was addressing a huge audience in Germany which also included Angela Merkel, the German Chancellor.
Like many other companies residing in China, Alibaba is planning to explore new horizons and planning to think out of the box. Also, wishes to expand from the huge market of 1.2 billion in China to the entire world.
Ma explained that the industrial revolution had freed the workers from intense labor and as far as the digital revolution is concerned, it will free the human beings from extensive thinking and liberates the brain’s strength.
He said that the technology does not change the world but the dreams behind that technology do. He expressed that his dream was to enhance the small organizations and make them able to sell on global market.
As per the Alibaba news, the founder has not made its global ambitions hidden and has often quoted Wal-Mart, Microsoft and IBM as that of inspirations.
Alibaba exploits the analysis of user data, much like Google. Commissions are not charged by company from users but profits from advertisements. The trade carried annually on the company’s platforms is exceeding that of Amazon and eBay combined. It should be kept in mind that most of its trades are still happening mostly in China.
The company has its own online payment system that it operates, named Alipay. This will form into a private bank for which Beijing has given approval to the e-commerce giant. The company has also offered an online music streaming service which recently signed a deal with BMG music, a navigation system and a lot of other things. It is planning to not only become global but also become more than an e-commerce giant for which it has already started playing around in the market.