Home Blockchain UEFA sponsorship signals big plans for AntChain blockchain outside China – Ledger Insights

UEFA sponsorship signals big plans for AntChain blockchain outside China – Ledger Insights

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In the present day UEFA introduced a brand new five-year world partnership for blockchain expertise with AntChain, the blockchain subsidiary of Ant Group which additionally owns AliPay.

AntChain will act because the official blockchain accomplice of the delayed UEFA EURO 2020. The Chinese language expertise model will deploy blockchain through the occasion to retailer prime scorer data.

Relative to its dad or mum firm, which owns China’s largest cellular funds enterprise Alipay, AntChain remains to be in its early levels. Final July, the subsidiary was rebranded to AntChain to supply blockchain-based options that combination quite a few digital applied sciences, together with AI and safe computation.

This will likely clarify why Ant Group has determined to catapult AntChain onto the worldwide scene by securing this UEFA partnership. Ant Group evidently desires to make a reputation for AntChain outdoors of China, and the sponsorship will definitely strengthen worldwide visibility for the Chinese language model.

AntChain’s partnership is to not be conflated with Alipay’s Top Scorer trophy for the UEFA EURO 2020. Alipay is already concerned with UEFA, having signed an eight-year global partnership in 2018.

Since 2015, Ant Group has been investing considerably within the analysis and improvement of blockchain applied sciences. It goals to construct belief and strengthen transparency in industries that contain massive numbers of contributors and complicated processes.

This world outlook follows Ant Group’s September 2020 launch of Trusple, a blockchain platform for worldwide commerce that’s designed to assist SMEs with cross-border commerce finance. It’s already attracted main worldwide banks similar to Citi, Customary Chartered and DBS.

In the meantime, sister agency Alibaba was lately hit with a $2.8 billion antitrust effective and Ant has been pressured to restructure as a monetary holding firm. Plus, restrictions have been imposed on its buy-now-pay-later resolution “Huabei” and the “Jiebei” lending platform. These are the most recent setbacks for Ant Group after its major IPO was retracted in November final 12 months.

In the present day’s announcement of the brand new AntChain UEFA sponsorship raises fascinating questions. With headwinds at dwelling, will Ant focus extra overseas and on blockchain?

Through the speech that scuppered the Ant IPO, founder Jack Ma spoke passionately about digital foreign money. May Ant use AntChain for digital foreign money outdoors of China? Now that may be large information.

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