The Launch of ZAN: Ant Groupโs New Blockchain Service
Ant Group, the fintech affiliate of Alibaba, has introduced ZAN, a blockchain service designed for Hong Kong and overseas markets. As the CEO of ZAN, Zhang Hui stated at a conference in Shanghai, the platform offers a comprehensive range of blockchain appย development products and services for both institutional and individual Webย 3.0 developers.
ZAN aims toย help institutional clients in issuing and managing real-world assets in accordance with local regulatory requirements. Inย addition, the platform provides technical products like electronic know-your-customer, anti-money laundering, and know-your-transactions services to strengthen the capabilities of Webย 3.0 enterprises in customer identity authentication, security protection, and risk management.
Zhang emphasized the importance of addressing the bottlenecks and inefficiencies encountered during the appย development process. ZAN is committed to investing in the research and development of Webย 3.0 technologies and products while offering extensive and reliable technical services toย facilitate the community. Collaboration with partners is likewise critical to driving Webย 3.0 developments and innovations.
The Blockchain Drive in China
Regardlessย of the ban on digitalย currency transactions in China, the country continuesย to demonstrate enthusiasm for homegrown blockchain technology and digital economies. Chinese tech giants like Alibaba and Tencent are actively involved in the development of their own consortium blockchains.
Ant Group, an affiliate of Alibaba, previously launched its blockchain brand, AntChain, in July 2020. ZANโs technical services have been piloted by Ant Group since earlier inย theย year. Notably, HashKey Group, a Hong Kong cryptocurrency firm, has adopted ZANโs e-KYC feature for its identity data aggregator service.
Hot Take: Advancements in Blockchain Technology in China
Chinaโs ban on digitalย currency transactions hasnโt deterred the country from exploring and embracing blockchain technology. With the launch of ZAN by Ant Group, an affiliate of Alibaba, it is evident that Chinese corporations are actively investing in the development of blockchain solutions. This demonstrates Chinaโs commitment to fostering digital economies and remaining at the forefront of technological innovation. By offering comprehensive blockchain services and collaborating with partners, Ant Group intendsย to accelerate theย expansion and adoption of Webย 3.0 technologies. The introduction of ZAN and similar initiatives underline theย capacity of blockchain to transform industries and drive economic progress.
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