Market Analysis

Chinese Fintech ‘Ant Group’ Reveals Its New Blockchain Based Business Platform.

Chinese leading fintech Ant Group – which is presently poised to launch what might be the global major IPO – has announced a new platform via its blockchain business.

Ant Group spun out from e-commerce giant Alibaba and is the parent company of China’s renowned digital payments service Alipay.

Ant Group’s blockchain business, AntChain, has today unrolled a new digital copyright services platform. It combines blockchain technology with AI to offer creators to securely authenticate and verify all types of original content – whether its videos, image-based, or written material.

The platform generates a singular, tamper-proof digital copyright certification and notary stamp for every work that’s uploaded into its database. The certifications are designed to be valid to be used in infringement of copyright and tort cases. The firm claims that these services can save their users 95% in costs typically related to obtaining copyright registration and certification.

Additionally, AntChain’s platform incorporates digital ID and search services to assist creators more efficiently track and detect possible infringement of copyright. Some 10 Mln original works are already being uploaded and authorized every day on the new platform, consistent with AntChain.

One of the first partners within the new platform, which joined during its test periodis the digital music score copyright distribution network, Shanghai C.C. Music Culture. AntChain’s platform generates smart contracts that record and automatically distribute revenue due to the network’s musicians and rights distributors.

Since 2015, when it began to figure with blockchain solutions, Ant Group has developed its own increasingly sophisticated platforms that join the technology with AI and therefore the IoTalso as backing blockchain research and development overseas.

Notwithstanding its serious commitment to the blockchain, the firm also has rebranded AntChain with a good little bit of humor and panache.

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