Ant Group, which operates the online payment platform for the world’s largest e-commerce company Alibaba, launched a new blockchain solution on July 23 to help strengthen transparency and build trust in industries that traditionally involve large numbers of participants and complex processes.
Aggregating technologies including artificial intelligence, Internet of Things (IoT) and secure computation, the AntChain solution is based on the company’s blockchain technology, which has been used in more than 50 use cases in IT leasing, shipping, insurance claim processing, cross-border remittances and charitable donations, according to a company statement.