Ant Financial has launched a corporate platform at the OpenChain Blockchain. It will help small and medium businesses to implement blockaded applications.
Fintech division of Chinese technology giant Alibaba Group has launched a new blockage solution for small and medium-sized companies. Jin Ge, general manager of Ant Financial's blockaded platform, said:
"With the launch of the OpenChain platform, we aim to help a million small and medium-sized enterprises and developers innovate and explore more options for using the technology over the next three years.
OpenChain from Ant Financial will support the implementation of block-chain solutions in supply chain financing, traceability, digital accounts and philanthropy.
"These utilization options require not only a mechanism of trust between all parties, but also high-performance, consistent algorithms that can perform authentication calculations in the blink of an eye," — states Ant Financial.
Testing of OpenChain began in 2019, and WhiteMatrix, an enterprise blockbuster application development service provider, has been using this platform ever since. WhiteMatrix founder and general manager Wu Xiao said OpenChain's transaction rate is "several times higher than that of a public blockage such as Etherium, and the price per transaction is ten times lower than that of a similar solution.
Many large technology firms in China are launching their own platforms on the block. Earlier this year, Chinese Internet giant Baidu announced the test launch of an Open Network service based on its own blockchain Xuperchain for easy development of decentralized applications.
In addition, back in the fall of 2018, JD.com launched a blockage laboratory in Beijing, and a few months earlier the company announced the launch of a blockage platform based on the BaaS (blockchain-as-a-service) concept to track corporate accounts of Pacific Insurance.
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