Making its first move into the blockchain industry in 2015, the Ant Group development team shifted its focus to commercial applications on its network previous year.
Into this picture walks Ant Group - the soon-to-be-public Chinese tech giant affiliated with Alibaba and billionaire Jack Ma and valued at $200 billion - with its new technology brand AntChain and a blockchain-in-a-box called the AntChain Station.
The Station, which is approximately the size of a laptop, is created to accelerate the deployment of AntChain's applications, with hardware encryption acceleration for privacy-preserving computation and security algorithms. The AntChain solution will also use many technologies, including artificial intelligence, the Internet of Things (IoT) and secure computing.
Eric Jing, Executive Chairman of Ant Group, stated, "The innovative measures implemented by SSE STAR market and the SEHK have opened the doors for global investors to access leading-edge technology companies from the most dynamic economies in the world and for those companies to have greater access to the capital markets". The company said AntChain Station can reduce the deployment time of its blockchain-based technologies by 90%.
If it goes through, Ant Group would arguably become the largest companies operating in the blockchain space.
The spokesperson refused to be drawn on how many new clients they expected to onboard with AntChain Station - citing quiet period. Earlier than this tools, deploying AntChain would contain putting in units of software program and "preparing the environment on general-purpose hardware".
The company claimed that it "now has the largest productivity blockchain platform in China, with the ability to process and support one billion user accounts and one billion transactions every day". The workstation will enable easy Blockchain applications through a dedicated hardware accelerator, and software already built into it.
This is the case of Alibaba's fintech arm Ant Group that early this week has hit the headline of media outlets by communicating to have formally begun the procedure for a simultaneous initial public offering on the Shanghai STAR Market and on the Hong Kong Stock Exchange while bypassing the Nasdaq as a outcome of the growing hostility between China and the U.S. The firm has been investing in the technology since 2015 and claims more than 50 use cases cases, typically involving multi-party collaboration, including IT leasing, global shipping, medical insurance claim processing, cross-border remittance, and charitable donations. As per the company, it has championed the global ranking for blockchain patent applications.