Alibaba Group was founded in 1999 and is a global leader in online and mobile commerce, operating wholesale and retail online marketplaces as well as businesses in cloud computing, digital media, and entertainment, innovation initiatives and others. Alibaba Group owns the business-to-business web portal Alibaba.com. As China has been tamping down cryptocurrency transactions and financial services, Alibaba Group has supported such policies and made all payments using Bitcoin invalid. Still, Jack Ma believes in the prospect of blockchain technology for data storage and logistics. Alibaba's Affiliate, Ant Group, owns Alipay, China's largest digital payment platform.