The core of our big picture is data, in future every "eye" is a wallet, says Alibaba's Zhang

The core of our big picture is data, in future every "eye" is a wallet, says Alibaba's Zhang

Chinese e-commerce group Alibaba Chief Operating Officer Daniel Zhang. REUTERS/Stringer

At a time when data is consistently being hailed as the new oil and payment systems have disrupted commerce, Chinese internet and e-commerce giant Alibaba has reiterated that the core for the big picture internet landscape in the world is ‘data’ and the company is trying to create that data from the real ecosystem.

“The key thing is to embrace the change. The world is changing so fast. Today we are saying that everybody is connected by the mobile internet and tomorrow, everything is connected. We are now moving into IoT, and the Internet will change. And today, when we do payments, people are surprised that in China, in the Southeast Asian markets, people enjoy this mobile wallet payment. But tomorrow, I think that maybe there is no need for mobile wallets. Everybody, every eye, is a wallet. So we can imagine that this day will be coming soon,” said Alibaba CEO Daniel Zhang said in an interview during the consumer goods forum global summit.

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