Alibaba Affiliate Taps Blockchain for Charity Payments
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....
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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.....
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....
In February, Bitcoin Magazine reported that Alipay, an online payment platform of the Chinese e-commerce corporation Alibaba Group Holding Ltd., had announced a project based on blockchain technology and cloud services. The announcement indicated the growing interest of Alibaba in distributed ledger technology. Now, it appears that the Chinese giant is gradually committing to the blockchain. Ant Financial, the Alibaba company that operates Alipay, is using distributed ledgers to transparently record transactions and improve the accountability of Chinese philanthropic organizations,....
Real-time Bitcoin split payments solutions have finally arrived, and not a moment too soon. Coinsplit.io is taking a truly revolutionary online approach to provably fair real-time Bitcoin split payments. From the Coinsplit.io site: Coinsplit allows you to create multiple bitcoin wallets. Each time a wallet receives coins they are divided into parts, according to shares, and sent to addresses associated with shares. Current settings. Payment threshold - 0.0005 BTC. Minimum confirmations - 3. Balance checking - every minute. Payouts - every 10 minutes Originally created for the purpose of....