February 27, 2024

Fintech Alibaba begins testing corporate blockchain

Fintech Alibaba begins testing corporate blockchain

Ant Financial has begun testing its own blockchain platform designed to support small and medium-sized businesses.

Ant Technology and Business Innovation DirectorFinancia Geely Lee has announced the launch of the Ant Blockchain Open Alliance corporate platform, which is due to launch in three months. According to him, the project is designed to help enterprises reduce costs, expand their market presence and customer base.

Although the blockchain platform will be open to developers and organizations, the companywill be careful in the choice of nodes to ensure high reliability of the network.Therefore, when considering operators, preference will be given to reputable educational and certified institutions.

Partners will be selected based on their industry affiliation, regardless of their actual geographic location. Management has not yet named potential consortium participants.

Let us recall that in March, Alibaba Group signed an agreement with software developer Aerospace Information on strategic cooperation in the development of blockchain and cloud computing.