Ant Financial Trying To Launch Its Enterprise Blockchain Platform

News / 08.01.2020

Reports have revealed the launch of the platform by Ant Financial. The platform focuses on enterprises and is known as “Ant Blockchain Open Alliance.” Ant Financial is the financial affiliate of Alibaba.

The beta version of the network, launched in November last year, will be launched as a fully operational chain soon, said Jiang Guofei, the vice president of Ant Financial Group on January 8.

According to Guofei, the Ant Blockchain is going to be a pioneer open alliance chain to share platform usage rights, bringing in small-scale and micro-enterprises and developers to the blockchain industry, towards the development and launching of their applications.

Guofei announced the chain towards the end of 2018, and said it was towards opening up the company’s technologies to the broader commercial sector. The company then launched its blockchain-as-a-service platform after running a trial of its pioneering blockchain remittances in the summer of 2018.

As regards the “open” in the title of the platform, a senior official of the company carefully qualified its meaning in November 2019, while talking about the launching of the beta version. He said the company is more cautious about the selection of node operators, as the formation of a plausible value network requires them to be a consensus accounting node and to offer authoritative endorsements.

Last year, the company was able to widen its participation in the world’s blockchain development, being a part of a $10 million Series A round for an Israeli blockchain privacy solutions company.

The company likewise became a partner of Bayer Crop Science, towards the development of a blockchain solution for the food and crop industry.

(Photo by – / AFP) / China OUT. Source: Cryptopress.

Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.