Alibaba Launches A Blockchain Solution

Alibaba Launches A Blockchain Solution 1024 500 Crypto Rand Group
Alibaba blockchain

All this is done through the Ant Group subsidiary of the Alibaba company which has just announced the deployment of a solution based on the blockchain. It already manages the Alipay digital payment portfolio. This makes this official announcement an important piece of information in the field. 

The blockchain is an innovative and still young technology. Its main known use is linked to the development of cryptomoney, such as Bitcoin (BTC). But it also offers new perspectives that may find interesting applications to accompany the development of large groups already installed. This for example with Microsoft and its current desire to decentralize digital identity. 

A reality confirmed by the official announcement of the Ant Group, a structure owned up to one third by the giant Alibaba. Among other things, it manages the Alipay payment system. In a press release published yesterday, the Alibaba group announced the implementation of a blockchain solution called AntChain.

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Transparency and trust

The stated aim of this integration of blockchain technology is motivated by a desire to reaffirm the principle of trust in the development of current digital solutions. This is an area in which blockchain excels because of the transparency and impossibility of falsification of the data it offers.  

“We believe in the potential of the blockchain to redefine trust in the digital age and to solve our customers’ real-world problems. “Ant Group

Alibaba Group announces that it currently owns the largest blockchain in China. An entity capable of managing a billion user accounts and the same number of transactions every day. The company states in its press release that more than 100 million digital assets are downloaded on AntChain on average every day.

The Ant Group has recently launched on Asian stock exchanges. The company is currently valued at $200 billion. This makes it a player as important as Paypal in the field.

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