The Tron team, responsible for the popular blockchain network, according to internal sources, assists Alibaba as it believes it is creating a cryptographic exchange to scale its ecosystem and its financial structure.
These two teams are sharing notes on how to implement best practices in this environment based on the work of other exchanges that have achieved considerable success in the market.
A source from Alibaba said that the company has been talking about it for months and that they planned long before Justin Sun and his Tron executive team began to create the infrastructure for Alibaba. Therefore, plans to create this new exchange have been ongoing for some time now.
Another source, this from Tron, has confirmed the information. According to this source, Alibaba's relationship with Tron is old and they have been consulted several times with them. The encrypted exchange was one of the projects mentioned.
According to both sources, Alibaba takes the idea of the exchange seriously and there are Tron people working on it right now. However, information that is not 100% clear at the moment is whether the company will link the exchange directly to its brand or not.
The most interesting information gathered from the original report is that Alibaba is very aware of all the issues related to encryption in China, but not too concerned with them, since the group is in direct conversations with the Chinese government.
According to this mysterious source, whatever the Chinese leadership chooses, the country is heavily invested in encrypted and secretly mines and the prohibition of cryptography is only a smokescreen and the future of the exchange seems to be assured.
This story was originally reported by The ICO Journal. All sources were anonymous and our blog had no direct contact with them.