Alibaba's Ant Financial to Launch Blockchain Backend-as-a-Service Platform


Ant Financial, the financial affiliate of Chinese e-commerce giant Alibaba, is launching a blockchainBaaS (Backend-as-a-Service) platform, local news outlet China Money Network reports September 21.

The announcement was reportedly made by Ant Financial vice president Jiang Guoefei at the Ant Technology Exploration Conference (ATEC) in Hangzhou yesterday. The new BaaS platform is being launched in tandem with an enterprise-focused “ant blockchain partner program” that will reportedly enable small- and medium-scale businesses to implement and innovate new blockchain solutions.

The announcement aligns with what Gueofei characterized as a move to “open up” Ant’s in-house technologies to the wider commercial sector:

“In the past two years, Ant Financial has been working on two aspects about blockchain. One is to improve the technology, and the other is to open it up and accelerate the commercialization of blockchain applications.”

As part of its impetus to commercialize the technology, Ant Financial trialed its very first blockchain remittances earlier this summer, using its newly-developed blockchain-based electronic wallet cross border remittance service. The trial demonstrated a transfer of funds between Ant Financial’s AliPayHK — the Hong Kong version of Ant’s popular mobile payment app Alipay — and Filipinopayment app GCash.

Alibaba founder Jack Ma has signalled increasing involvement of AliPay in blockchain for several years, with Ant Financial most recently securing $14 billion in funding for the technology’s development this June.

Fresh data published late August revealed that Alibaba had sealed first place globally on a new list that ranked entities by the number of blockchain-related patents filed to date; the e-commerce conglomerate has filed a staggering 90 such patents, outflanking even IBM.

Nonetheless, Ma delivered a keynote lecture earlier this month in which he noted that blockchain is one of a host of advanced technologies that still need to prove they can help evolve society in a “greener and more inclusive” direction.



Around 2% of the world’s population does not have a bank account (Backed). This is a sector with many risks, I hope the principle of caution is always prioritized.


If properly regulated (maybe in near future), crypto will help in financial inclusion too. Almost every one has a mobile phone now a days and we can do almost anything related to crypto with mobile.

And that percentage is much higher than 2%, I can say confidently and it was much more than that five years ago.


The fee situation on BTC is what big blockers have been predicting all along. Ou next prediction: Users will evacuate High Fee Coin for better alternatives. The easiest thing to switch to is BCH. BCH moderating their technologies much more than any other coin. Also I have heard about project Akropolis is helping to rid the world of flaws in pension funds with a new immutable and transparent smart-contract-based pension fund infrastructure that will dramatically change the way humanity thinks about saving and investing.


Exactly. There are a lot out there with great ideas and wanted to put up businesses but cannot do so since they do not qualify to be backed by financial institutions or they lack requirements to avail such service thus not making their ideas into reality. They are not given a shot. Further, it is correct, most of us rely on mobile devices and with this and use of blockchain technology and cryptocurrencies, it will be reachable and within our hands, no boundaries and limits. Unbanked will be given the same chance to prove themselves and get involved on what is going on, moving forward. They will not get left behind.