Ant Financial Introduces Blockchain Open Alliance

Asia Blockchain Review
November 20, 2019

China’s Ant Financial, owner of Alipay, has introduced the Ant Blockchain Open Alliance that aims to lower the entry barriers for SMEs by providing a blockchain network service at lower costs. The project is currently being offered in beta at a limited capacity.

Launching Blockchain Projects in Asian Countries

Ant Financial is rolling out several blockchain projects across Asia, according to Ledger Insights.  Li Jieli, senior director of Ant Financial, revealed at the 2019 Unbounded Blockchain Conference that the firm is launching projects in several areas ranging from remittances to healthcare management.

Some of the initiatives included remittance services in the Philippines and Hong Kong, as well as using a blockchain platform to reduce waiting times in hospitals in China’s Zhejiang province. 

While these solutions will be operated on the company’s blockchain as a service (BaaS) platform built on Alibaba Cloud, it can also be operated on other blockchains and cloud systems.

“On the BaaS platform, the blockchain core technology with the Ant Blockchain […] is encapsulated, and it is also compatible with the enterprise Ethereum, Hyperledger Fabric, Quorum, two different open source systems,” Jieli said.

Supporting Small Businesses with Blockchain Solutions

As enterprise blockchain solutions often come at a high cost, the firm is offering solutions to SMEs and independent developers through its Open Alliance that will provide an inclusive service at a lower cost, Jieli added.

“The services on the BaaS platform will be provided to the Open Alliance,” Jieli said. “There are also many third-party applications, as well as some general-purpose ecological services, and some of the benefits will be presented in this open alliance chain.”


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