Alibaba's ex-chief architect, Jianxiang Mo, will team up with the former chief architect from Baidu, Haiyang Xu, to co-found a blockchain technology academy with $100 million worth of angel investor funds in hand.
They have likened the proposed institution to the Whampoa Military Academy (the so-called West Point of the East) but the curriculum will focus on FinTech rather than firearms. Details as to when and where the academy is to be built haven't yet been revealed.
According to Mo, "There are only a few hundred people in China who can write public-key codes," which leaves a lot of room for demand. This is something that the academy hopes to change by training 50-100 "generals" to lead teams on blockchain development.
Xu and Mo have doubled-down on their prediction that 2018 will be a breakout year for blockchain technology by creating an educational platform to help developers, and in turn blockchain startups, to thrive in China.
Mo and Xu are not alone among China's tech moguls who have displayed enthusiasm for blockchain technology. The CEO of Chinese internet giant Tencent, Ma Huateng, also called "Pony Ma," expressed exuberance for the technology, which he believes has the capacity to disrupt marketplaces.
Quotes translated from Chinese using Google Translate.