Copy link
Increase text size
Decrease text size
Link copied

Alibaba subsidiary Ant Financial preps to launch its enterprise blockchain next month

Image: Twitter

Wed, 08 Jan 2020, 13:33 pm UTC

Chinese payment giant Ant Financial is planning to launch its enterprise blockchain platform in February, The Block reported citing a report from Mars Finance.

At the company’s annual media meeting, Guofei Jiang, vice president of Ant Financial, announced that the consortium blockchain is currently in beta and slated for full launch next February.

It can be recalled that the Alibaba subsidiary started testing the blockchain network, called Ant Blockchain Open Alliance, in November 2019. Jieli Li, the senior director of technology and business innovation, had said at the time that those interested in joining the network have to meet certain requirements.

“As for the node partners, we are more cautious, and we can't disclose too much at the moment. Because to form a credible value network, not only do they need to be a consensus accounting node, but they also need to provide authoritative endorsements,” Li had said.

Jiang said that the platform is designed to help small and micro enterprises develop their own blockchain applications in a cost-effective manner. He claimed that the blockchain network can support 1 billion daily transactions and can process up to 100,000 cross-chain information per second.

The platform has already helped to address trust issues across 40 sectors, the report said. Touting blockchain as the most valuable technology in the current era, Jiang said:

"We believe that in the future, blockchain will change people's production and lifelike mobile payments and become the infrastructure of the digital economy.”

In addition to Ant Financial, a number of Chinese firms, including the likes of Tencent, Baidu, and JD, have either launched or considering launching their blockchain platforms. Just recently, Baidu has launched the public beta for Xuperchain, its own enterprise blockchain network, and has launched a new service, powered by Xuperchain, that will help developers and SMEs to develop decentralized applications (dapps).

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,893.02 (+2.14%)
  • Ethereum (ETH) $170.24 (+3.90%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $363.80 (+11.23%)
  • Bitcoin SV (BSV) $280.58 (-11.70%)
  • Bitcoin (BTC) $8,893.02 (+2.14%)
Jan 17, 2020 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto dealer SFOX announces new service for investors and wealth managers
Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan
Crypto Technicals: NEO/USD set to scale new highs, 200-DMA breakout confirms bullish trend
Crypto exchange Gemini launches own insurance company "Nakamoto"
eToro, Radar and OKCoin join Coinbase-led Crypto Rating Council
Huobi joins Blockchain Turkey Platform (BCTR)
U.S. authorities urged to investigate crypto use in funding domestic terrorism and extremism
Calibra, Anchorage, Bison Trails executives elected to Libra’s new technical steering committee
Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)
U.S. lawmakers seek tax exemption for crypto transactions under $200
Former CFTC Chair launches Digital Dollar Project in partnership with Accenture
Crypto Technicals: ETH/USD resumes upside after brief pause, eyes 23.6% Fib at 174.83
Uzbekistan to launch national mining pool and licensed cryptocurrency exchange
Crypto Technicals: BTC/USD extends sideways below 200-DMA, bias bullish
Garanti BBVA conducts real-time blockchain transfers using Takasbank's BiGA Platform
Jan 16, 2020 (Thursday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Litecoin Foundation, BlockFi partner to bring more liquidity to users
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.