Alibaba Launches Blockchain Platform for Business
Ant Financial, a financial division of Alibaba Group, is launching a consortium blockchain OpenChain, reports The Block. OpenChain is designed to support small and medium businesses interested in using blockchain applications "with increased efficiency and reduced costs".
Consortium blockchains bring together elements of private and public blockchains for the benefit of organizations from one sector. OpenChain is suitable for use in logistics, origin determination, digital invoices and charity.