Alibaba Group was founded in 1999 by 18 people led by Jack Ma. Today, Alibaba Group has grown into a global leader in online and mobile commerce, operating leading 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 banned the use of cryptocurrency in the country, Alibaba Group has supported such policy and made all payments using Bitcoin invalid. Still, Jack Ma believes in the prospect of blockchain technology for the cloud storage and logistics of the corporation.