Ant Group x blockchain = AntChain
A simple, yet, effective name for Ant Group’s new blockchain solution which was launched yesterday.
It combines AI, the Internet of Things (IoT) and secure computation, along with other digital technologies. Ant Group have also developed an “AntChain Station” which can reduce the time needed to set-up blockchains by 10% and can increase transaction speeds by up to 30%.
Ant Group is the parent company of Alipay and an affiliate of Alibaba. It entered the blockchain industry in 2015 and began working on commercial operations for blockchain last year. It can now support over one billion accounts and process up to a billion transactions per day.