Alibabacoin, or ABBC, is a crypto currency business approach by the global retailer and wholesaler Alibaba. It describes its new technology as optimized for finance, distribution, shopping, and security using the blockchain technology.
Alibabacoin = Blockchain Security
Link to the main website
Link to price/market cap
Exchange Ticker (ABBC)
Circulating Supply (395 Million)
Total Supply (1 Billion)
Market Cap Ranking
Alibabacoin, or ABBC, is a cryptocurrency business approach by the global retailer and wholesaler Alibaba. It describes its new technology as optimized for finance, distribution, shopping, and security using the blockchain technology. The company has built the platform as a secure fund security system improved using secret innovations on the blockchain algorithm that makes it compatible with other cutting-edge technologies including hashing and facial recognition.
- Blockchain Implementation
- Facial Recognition
- Social Contribution
While the blockchain is a secure, transparent, and public technology to store and transmit data and user transactions, access to it is shared among users and the development team. Alibaba’s blockchain is unique in that it reduces user risk by enabling more dynamic chains that require lower inventory but with higher service levels.
The added facial recognition capabilities makes Alibaba’s blockchain more formidable, secure, and reliable compared to those without this extra layer of security. Through facial recognition, users can have more confidence in their own trading, access their stored digital assets with ease, and make payments with minimal hassle.
Since blockchain technology is built on a decentralized network, each block added to the chain is verified by all the other blocks. Eventually, the world will have a single blockchain platform to handle everything from financial transactions to storing data. AlibabaCoin runs on a blockchain platform that is ready for combination with all other cryptocurrency and blockchain platforms in the world to facilitate payment and transactions on one platform.
Since AlibabaCoin is fundamentally managed and operated by a foundation on a social contribution and donation mission, the currency is best place for use in fighting persistent ills in the society including war, hunger, medical care, and food.
One would be surprised to learn that the ABBC foundation has absolutely nothing to do with the ecommerce giant Alibaba. In the beginning of April, Alibaba sued the ABBC Foundation for copyright infringement, alleging that Alibabacoin engaged in “prominent, repeated, and intentionally misleading” behavior using the company’s name. The initial lawsuit was accompanied by a temporary restraining order against Alibabacoin that was negated by Judge J. Paul Oetken’s ruling, but Alibaba can keep pursuing its lawsuit in spite of the judge’s injunction denial, according to Forbes Middle East. The Alibaba coin is no more than a typical virtual currency with an algorithm called X13. The purpose is a virtual transaction using real money, which is simply a change of payment unit to a common currency for payment.
There is nothing to do with Marwin, CEO of China Alibaba, and it has nothing to do with Alibaba’s subsidiaries.
All in all, it seems that the ABBC project is trying to intentionally mislead investors by trying to associate itself with a multi-million dollar company. The team members seem shady and there’s an overall aura that reeks of scam around the project. Approach with caution.
- Lots of exchanges
- No direct backing (asset, profits, commodity)
- Possible continued lawsuits
- Not involved with Alibaba