Blockchain Revolution is On: Alibaba to Make Donations Trackable
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....
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Alibaba affiliate Ant Financial has created a private, proof-of-stake blockchain that seeks to help make charities more transparent and accountable. The news comes just months after Ant Financial closed a $4.5bn private fundraising round at a $60bn valuation. Ant Financial was spun out of China-based e-commerce giant Alibaba prior to its 2014 IPO, though both are overseen by executive chairman Jack Ma. The trial is envisioned as one that could come to record donations made by Alipay users to charities through its “Ant Love” platform, Bloomberg reports, a move that may ultimately allow....
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.....
The Chinese multinational technology giant, Alibaba Group, has launched a non-fungible token (NFT) marketplace. According to regional reports, the Alibaba NFT platform not only provides customers with the ability to purchase and sell NFTs, but the marketplace also allows people to license and sell intellectual property (IP), as it is copyrighted by blockchain technology. Alibaba’s NFT Market Offers Blockchain Copyright Service Alibaba is a large corporation from China that specializes in internet services, technology, and e-commerce solutions. The company, founded in 1999, quickly....
Several posts on Chinese Bitcoin news sites like Coin News Asia are reporting that online sales giant Alibaba is working on possibly using blockchain tech for their Alipay service. It was first talked about on 8BTC.com on Jan 20th amid speculation as to what uses Alibaba and Alipay might be looking in the technology to do. In a statement at Coin News Asia Jingming Li, President of Alipay U.S. stated while talking about partnering with United could be one of the areas that they will deploy blockchain technology.
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. […]