Chinese E-Commerce Giant Blockchain Moves From Alibaba
The technology brand called “AntChain” is for the company’s blockchain-based solutions, including OpenChain, according to the Ant Group spokesperson’s statement.
AntChain supports over 50 use cases, including shipping and cross-border transfers, and claims to have the ability to support 1 billion user accounts per day and perform 1 billion transactions per day.We look forward to contributing to the acceleration of blockchain-enabled industry conversions with the launch of the AntChain brand,” says Geoff Jiang, vice president of Ant Group, and adds that the brand will help create “tangible value” for customers, including small and medium-sized businesses.The news comes just a week after Ant announced its initial IPO plans on both the Hong Kong and Shanghai stock exchanges. Ant is looking for a valuation of $ 150 billion in the last round of financing and now worth $ 200 billion through bilateral public offering.
Ant Group has been investing “significantly” in blockchain research and development since 2015. Today, the group also launched the “AntChain Station”. This makes corporate customers’ blockchain solutions 90% faster.Also owned by Ant, Alipay is also working on projects related to China’s official digital currency. AliPay is expected to become a digital yuan distributor.