Alibaba’s Ant Financial Chooses Blockchain to Monitor Charities
Posted: Wed Aug 03, 2016 1:17 pm
Ever wondered if the money you donated to charity is actually being used on the cause you want to support, or just squandered away? Blockchain, the innovative distributed ledger technology at the heart of cryptocurrencies such as Bitcoin, might finally provide the answer.
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The Chinese Alibaba Group’s finance arm, Ant Financial, has reportedly created a private blockchain to record all donations on its “Ant Love” charity platform linked to Alipay. Sometimes called the Chinese PayPal, Alipay sits at the heart of Jack Ma’s (the richest man in China) ... (read more)