Alibaba Vice President Zhang Kaifu (alias: Kaifu) will be responsible for innovative businesses, including Web3, according to information obtained by Phoenix Technology on March 2. This business is under the Alibaba Overseas Digital Commerce Division and reports to Jiang Fan.
It is reported that the business is still in the preliminary research stage, with a team of around 10 people.
In December 2021, Alibaba underwent a major organizational restructuring, creating two new divisions: Chinese Digital Commerce and Overseas Digital Commerce. Kaifu was transferred from Taobao to the Overseas Digital Commerce Division.
Kaifu graduated from the Department of Computer Science at Tsinghua University and holds a Ph.D. in Management from the European School of Management and Technology. He previously served as an assistant professor of marketing at the Tepper School of Business at Carnegie Mellon University and as an assistant professor of marketing at the Cheung Kong Graduate School of Business. Since joining Alibaba in 2017, he has long served as the industry leader of Taobao.
It is worth noting that the business will focus on Web3, which is considered by many as the next-generation Internet. Web3, also known as the decentralized web, is a more secure, transparent, and open version of the Internet that is based on blockchain technology. This technology allows users to have greater control over their personal data, and it also enables a more diverse and decentralized digital ecosystem.
The move by Alibaba to focus on Web3 is in line with the company’s vision of embracing new technologies and innovation to better serve its customers. With the growth of Web3, Alibaba is positioning itself to take advantage of this new frontier in the digital economy.
In conclusion, the appointment of Kaifu to lead Alibaba’s Web3 business is a significant development in the company’s efforts to explore new technologies and expand its reach in the digital economy. With his extensive experience and knowledge, Kaifu is well-suited to lead this important initiative for Alibaba.
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