Ant Financial, the funds affiliate of e-commerce large Alibaba, is transferring to broaden the scope of its blockchain-powered charity challenge.
The challenge – spearheaded by Ant Financial’s charity arm, Ant Love – was first unveiled final summer season. At the time, the corporate mentioned that it was tapping the tech so as to “bring more transparency to charity”. Specifically, the platform is designed to allow better visibility into donor histories, charity disclosures, and other forms of data concerned with such efforts.
Ant Financial CTO Cheng Li instructed Bloomberg on the time:
“We hope to bring more transparency to charity and blockchain technology’s decentralized nature fits that purpose well. It means that all the information and transaction history of funds will be more reliable and can’t be easily tampered with.”
Now, the agency is claimed to be wanting to develop the initiative.
According to the South China Morning Post, Ant Financial is planning to contain extra corporations with the platform, together with donor organizations, charities and media teams.
The challenge is a notable one given the scope of Alipay (Alibaba’s cost service), which boasted greater than 450m customers as of final 12 months, in addition to the worldwide footprint of Alibaba itself.
Earlier this month, Alibaba announced that it was working with skilled companies agency PwC on a blockchain challenge tied to stopping fraud in meals provide chains.
Image Credit: testing / Shutterstock.com
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