Payment Alibaba unit starts using technology blokchain

Payment Alibaba unit starts using technology blokchain

Ant Financial Services Group, a division of the Chinese company Alibaba Group, announced the beginning of the transition to the use of blokchain technology in their processes.

As reported Coinjournal behind Bitcoin technology will first be activated on the platform for donations fund the fight against poverty. It is expected that the use of blokchain increase transparency and provide confidence in the mechanism for each payment received donations and expenditures.

Until recently known as Alipay, Ant Financial company operates under a new guise in 2015, and its cost is estimated at $ 60 billion.

Earlier Ant Financial entered into a strategic partnership with the Chinese division of Foundation for Poverty Alleviation (CFPA), the largest non-governmental organization of China. As a tool for the achievement of the Ant Financial and CFPA objectives using a variety of online technologies, the list of which is now replenished and blokchain.

Recall that in February this year, Alibaba Group announced their intention to use Alipay payment system blokchain technology for its cloud services

Today, Alipay serves more than 350 million registered customers, spending more than 80 million transactions per day. The payment network also controls almost 80% of the total market for mobile payments in China, supporting 109 million Alipay Wallet platform active users.