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Ant Financial Is Set To Launch Its Own Blockchain Platform In February 2020

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The popular Chinese fintech company Ant Financial is set to launch its own blockchain platform in February 2020. The organization’s vice president Goufei Jiang shared this information, local media reported.

The company's own blockchain will operate as a part of the Ant Blockchain Open Alliance platform. Technical solutions of the latter will open up opportunities for market participants to independently develop their own blockchain apps. According to the expert, the platform's capability is at the level of 1 billion transactions per day.

Representatives of the initiative gave market participants access to the Ant Blockchain Open Alliance beta version in November 2019. The development has already managed to solve many problems, including difficulties in organizing cross-border transfers and financing of trade operations in the business sector.

We believe that in the future, blockchain will change the ways of production and people's lives, like mobile payments once, and become the infrastructure of the digital economy, Guofei Jiang described the prospective prospects of the technology.

According to the organization’s team, the special attention will be paid to the choice of node operators, as part of the development of the Ant Blockchain Open Alliance. Recall that the organization’s specialists included blockchain among the key technologies in the summer of 2018.

Ant Financial is a subsidiary of the largest online B2B trading platform Alibaba and the payment system AliPay, which is part of the Alibaba Group. The startup’s market valuation reached $ 150 billion. According to several publications, Ant Financial is the largest company in the fintech sector.

Recall, recently it became known about Ant Financial's entry to Europe: company representatives decided to purchase the WorldFirst payment service. Yesterday, information also appeared about the imminent launch of the national blockchain network of the PRC.

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