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    Ant Financial of Alibaba Opens Up Blockchain Testing for Small and Medium-Sized Businesses

    China's tech kingpin Alibaba's Ant Financial is rolling out its testing of its blockchain network aimed to help support SMEs using its Ant Blockchain Open Alliance

    The fintech Alibaba Group firm Ant Financial is in tests for a blockchain network meant to help small and medium businesses. Its senior director for technology and business innovation Jieli Li has spoken at the Wuzhen World Blockchain Summit. He said that the technology for the Ant Blockchain Open Alliance should be live soon, three months after the tests have ended.

    Ant Financial Will Be Cautious when Selecting the Platform’s Nodes

    In an interview for 8btc.com, the same Jieli Li has said that even if the blockchain is open for everyone, they will still be careful when selecting the nodes for the platform. Ant Financial will have certification and educational agencies functioning as nodes so that their network’s credibility increases. Its partners will be chosen according to the industries in which they activate and not the region they’re in, Li said. He didn’t specify which firms are going to work with Ant Financial, though.

    What Is the Ant Blockchain Open Alliance Trying to Do?

    The Ant Blockchain Open Alliance is looking to reduce the costs of services in all sorts of industries, also to expand the users’ reach to these services. The industries aimed are healthcare, finance, and others that people need at large. The project has been unveiled in September, and the company keeps adding partners ever since. The blockchain projects Ant Financial has been working on are a food tracking app and a system that can be used to monitor agri-products. The monitoring system project is done with Bayer as their partner.

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    Oana Ularu
    Oana Ularu
    Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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