A controversial crypto project that has taken the name of one of the world’s largest websites is planning a massive launch
Alibabacoin (ABBC), a recently funded ICO will be listed on 9 different exchanges at the same time this week. Alibabacoin Foundation is promising to offer a platform that will use blockchain technology to connect facial recognition with online shopping and payment options. The company says that it is an industry-first for a coin to be listed on so many exchanges simultaneously.
Jason Daniel Paul Philip, the Founder, and CEO of Alibabacoin Foundation, insists that Alibabacoin (ABBC) will be a fully operational platform, not just another altcoin. Phillip says:
We strive to make ABBC Blockchain Technology the world’s leading software platform for digital assets. We are building a fund security system that is improved by using the latest technology with a secret technique for implementing the blockchain algorithm into the facial recognition hashing process. Alibabacoin will serve as the primary mode to avail all the services on the platform. Now that it will be listed on around ten major exchanges, anyone can easily purchase the Alibabacoin to become a part of our ever-growing community of crypto enthusiasts.
The team has not yet revealed exactly when the listings will go up, only that they will be available on the following exchanges at the same time: Coinsuper, Bitforex, Coinbene, IDAX, TopBTC, OOOBTC, RightBTC, DragonEX and Sistemkoin.
Also this week, The Alibaba Foundation announced a plan to have their technology used in shopping malls. The company says that by the end of the year, Alibabacoin (ABBC) will be accepted in 30 of the world’s most famous malls, and they will have an online mall of their own as well.
It is important to note that this token is in no way affiliated with the multi-billion dollar company Alibaba.com. In fact, earlier this year, Alibaba.com unsuccessfully sued Alibabacoin (ABBC), on the grounds that their name would cause confusion among customers and potentially damage their brand. The Alibabacoin Foundation has defended their similar name by saying that “Alibaba” is a magical reference that should not be monopolized by one company.