8 months ago

An affiliated company of the Chinese giant Alibaba, Ant Financial, is launching a blockchain-based backend-as-a-service (BaaS) platform.

Ant Financial Vice President Geoff Jiang has announced the launch of the BaaS platform at the Ant Technology Exploration Conference (ATEC) in Hangzhou. The new backend-as-a-service platform is launched in conjunction with Ant’s partner program for business, which is designed to help medium and small businesses implement innovative blocking solutions.

Ant Financial tested its blockchain system for international transfers earlier this summer, sending funds from the popular mobile application Alipay in Hong Kong to the Philippine application GCash.

Alibaba is the leader in the number of blockchain patents: to date, the company has filed 90 applications for blockchain patents, overtaking the techno giant IBM. For example, the E-Commerce giant’s T-Mall platform uses blockchain technology in its cross-border supply chain.

However, in September, the founder of Alibaba, Jack Ma, noted at the conference that blockchain, like other advanced technologies, should help the society develop “more environmentally and openly”, otherwise they are useless.