Alibaba Group’s Ant Financial Creates Blockchain Solution for Philanthropy Sector
The new blockchain solution created by Ant Financial will bring in transparency and accountability to philanthropic organizations and charitable institutions. The Chinese billionaire entrepreneur, Jack Ma has forayed in the digital currency technology arena. Ant Financial, one of the affiliates of Jack Ma’s Alibaba Group Holding Limited (NYSE:BABA)has been working on implementing blockchain technology in the non-profit and charity sector to bring in transparency and accountability. The blockchain solution developed by Ant Financial is being used by Alipay to record all incoming....
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Alibaba's introduction of tamper-proof Blockchain technology to improve accountability in the Chinese charity industry will boost the trend, particularly among other organizations. The Xinhua News Agency reported that Chinese philanthropy rose 10-fold to $15 billion in the decade through 2014. This has been marred with several cases of scandals hence this move by Alibaba, the world’s most popular in e-commerce market, controlled by Chinese billionaire Jack Ma. Ant Financial, the affiliate of Alibaba Group Holding Ltd, is handling the new initiative aimed at tackling misuse of funds and to....
Alibaba Financial announced a possibility to use Blockchain in its new cloud service platform. This was mentioned at the Yunqi Assembly Shanghai summit in Beijing on January 20, 2016. Moreover, in a review of the year 2015, Ali Financial cloud, a service of Alibaba Group, describes the possible benefits of using the Blockchain. It states that they “are actively exploring the profound impact of [Blockchain] technology in the financial sector.” During the conference, Alibaba also released a whole chain of products for data collection, processing, analysis, etc, including Ali cloud platform.....
As the interest in the NFT sector increases, many top shots seem to explore the opportunities it provides. For example, the latest news reveals a new marketplace by Alibaba where trademark holders can sell the NFTs that represent their copyright licenses. Alibaba Group, the famous multinational eCommerce firm, launched a new NFT (non-fungible token) marketplace. […]
The firm’s NFT marketplace solution included “web hosting, digital marketing & content delivery” infrastructure, but is no longer listed on its website despite still showing up in Google search results. The cloud business unit of Chinese marketplace giant Alibaba Group Holdings launched a new NFT solution and then promptly deleted all mention of it online. According to a now-deleted Twitter post announcing the launch on June 8, the firm’s NFT marketplace solution included “web hosting, digital marketing & content delivery” infrastructure, but is no longer listed on its website....
Alibaba's Ant Financial Services has acquired MoneyGram. At the same time, it explores blockchain tech for Alipay. Alibaba Group Holding Limited, the Chinese e-commerce and financial services conglomerate has made a significant move into the remittance industry. The company’s subsidiary Ant Financial Services Group has acquired MoneyGram International Inc. for $880 million. The acquisition of MoneyGram not only offers Ant Financial a stronger foothold in the remittance sector but also gives it a unique opportunity to expand its services across the globe. MoneyGram and its counterpart the....