Alibaba’s Ant Financial Aims for 2 billion Users by Bringing Blockchain Technology to Alipay

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Alibaba’s payment arm Ant Financial wants to have 2 billion customers in 10 years according to the chief executive of the $60 billion firm. Ant Financial runs the Alipay mobile wallet in China which has over 450 million users.

In an interview with CNBC, Eric Jing, the CEO of Ant Financial, added that the Chinese giant is exploring further uses of Blockchain technology to make that possible. 

“We have an ambition to be a global company,” Jing told CNBC at the World Economic Forum in Davos.

“So my vision (is) that we want to serve 2 billion people in the next 10 years by using technology, by working together with partners … to serve those underserved.”

Jing noted the potential of artificial intelligence and Blockchain.

 

When asked by CNBC if Ant Financial is looking into blockchain technologies to underpin Alipay, Jing said “definitely”.

“All these technologies will be used … to bring more, a high level of security,” Jing explained, adding that artificial intelligence and blockchain will be “deeply” integrated into Ant Financial’s operations.

Ant Financial has already introduced Blockchain technology into a charitable donation service that it owns, with the aim of allowing users to track the money they send in a more charitable way.

To push growth the company raised a whopping $4.5 billion in a series B funding round last year which will help drive deals such as its acquisition of a 40% stake in India’s Paytm.

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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