Alibaba's Ant Financial Joins Quest for Transparency in Charitable Transactions
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....
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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....
Chinese corporate giant Ant Financial, led by billionaire venture capitalist Jack Ma, is introducing blockchain technology to the Alipay donation application. The added feature will utilize a distributed ledger platform to record collected donations. Ant Financial’s Alipay Goes Blockchain. Ant Financial Services Group is a subsidiary of the Chinese....
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.....
Alibaba's IPO (Initial Public Offering) is set to take place today at 11.00 AM ET on NYSE (New York Stock Exchange) under the ticker BABA. The IPO of Alibaba will become the largest IPO of a company in the United States, ever. Alibaba Group will price its shares at 68 USD, which makes their company worth 21.8 billion dollars. The Bitcoin price has plummeted by more than $60 or 12.5% this week. Just yesterday the Bitcoin price went from 450 USD per bitcoin to $407. The price has not been this low since April 2014, after a long decline from the massive spike during the Chinese fall where one....