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Branch of Alibaba, Ant Financial, launches blockchain-platform BaaS

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Ant Financial, the financial subsidiary of the Chinese giant of e-commerce Alibaba, is launching the block-based platform BaaS (Backend-as-a-Service).

The announcement was made by Ant Financial Vice Vice President Jiang Guofei at the Ant Technology Exploration (ATEC) conference in Hangzhou. The new BaaS platform is launched in tandem with the partner program "ant blockchain", oriented to enterprises, which, as reported, will enable small and medium-sized businesses to implement new solutions based on the blockbuster.

Goofey described this as a transition to the "discovery" of Ant's own technologies and promotion to a wider commercial sector:

"Over the past two years, Ant Financial has worked on two aspects of blocking: the first – improving technology, and the second – accelerating the commercialization of blockchain-applications."

As part of its commitment to commercializing technology, Ant Financial conducted its first money transfers with the help of a block of flats this summer, using a newly developed system for sending money from an electronic purse based on a block of flats. During the procedure, the transfer of funds between AliPayHK through Ant Financial – the version of the popular mobile payment application Ant Alipay – and the Philippine payment application GCash was demonstrated.

Alibaba for the development of Blockchain

Alibaba founder Jack Ma announced the expansion of AliPay's participation in the development of Blockchain, and Ant Financial recently invested $ 14 billion in financing technology development in June.

In addition, Alibaba ranked first in the world on the new list, which estimated the number of patches related to Blockchain filed to date – the conglomerate filed a staggering 90 such patents, defying even IBM.

However, Ma made a presentation earlier this month in which he noted that blockade is one of many advanced technologies that still need to prove that they can help the development of society in a "greener and more inclusive Direction.

Author: Olga Novikova, analyst of Freedman Club Crypto News