Alibaba Affiliate Reveals More Blockchain Charity Project

In News

Alibaba  is one of the leading companies that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. It also provides electronic payment services, a shopping search engine and data-centric cloud computing services.It is the world’s largest retailer as of April 2016 surpassing Walmart, with operations in over 190 countries, as well as one of the largest Internet companies.

Ant Financial, the payments affiliate of e-commerce giant Alibaba, is moving to expand the scope of its blockchain-powered charity project.

The project – spearheaded by Ant Financial’s charity arm, Ant Love – was first unveiled last summer. At the time, the company said that it was tapping the tech in order to “bring more transparency to charity”. Specifically, the platform is designed to enable greater visibility into donor histories, charity disclosures, and other kinds of information involved with such efforts.

Ant Financial CTO Cheng Li told Bloomberg at 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 firm is said to be looking to grow the initiative.

According to the South China Morning Post, Ant Financial is planning to involve more companies with the platform, including donor organizations, charities and media groups.

The project is a notable one given the scope of Alipay (Alibaba’s payment service), which boasted more than 450m users as of last year, as well as the global footprint of Alibaba itself.

Earlier this month, Alibaba announced that it was working with professional services firm PwC on a blockchain project tied to preventing fraud in food supply chains.


You may also read!

Personal information

US Senator Demands Internet with ‘Do Not Track List’ For Personal Information

Do you think that personal data should be shared with websites? US Senator Josh Hawley thinks otherwise. As a

Online Security

Survey Shows Internet Users Have Terrible Online Security

How secure is your online privacy? Internet users might have no conception that their personal information entered online are

Louis Vuitton

Louis Vuitton Leverages on Blockchain to Verify Fake Products

Is there anything else that blockchain cannot do? Louis Vuitton along with ConsenSys and Microsoft have teamed up to


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu