Ant Financial tests blockchain system to support small and medium-sized businesses
Ant Financial, the FINTECH arm of Chinese tech giant Alibaba Group, has begun testing a blockchain system designed to support small and medium-sized businesses.
The Ant blockchain Open Alliance platform will be launched three months after testing. This was announced by the head of technology and business innovation Ant Financial Jieli Li at the world blockchain summit in Wuzhen.
Lee added that educational and certification institutions are the most preferred node operators, as they will increase the level of confidence in the system. The selection of companies will take place in the industries in which the company is interested, and the geographical location of the partners will not be decisive. However, at the moment, Ant Financial has not yet disclosed the names of the companies that have become members of the blockchain consortium.
According to the developers, the Ant blockchain Open Alliance platform, working on the blockchain, will reduce costs and expand the coverage of services in various industries, including Finance and health care.
