- Alibaba’s blockchain platform is expanding to Southeast Asian, U.S., and Europe
- This comes on the heels of its successful debut in China
Back in August Alibaba launched a commercial blockchain service in China which was a great success. Now it seems it will be expanding as the online retail giant has announced that the service will now be expanding internationally.
The new territories that will first be able to access the blockchain as a service platform are Southeast Asia, the US, and the European markets.
Wide range of blockchain services
This service is based on the Hyperledger Fabric and Ant Blockchain and allows its users to create blockchain products with ease.
AliCloud parent company Alibaba Group’s financial affiliate Ant Financial Services group is the force behind the Ant Blockchain and the blockchain itself has a secure consortium blockchain network to back it up.
As for the Hyperledger Fabric, it is based on open source blockchain and is one of the five Linux Foundation projects.
One of the factors that have aided the growth of Alibaba’s blockchain service is the fact that it has a very wide range of applications. It can be used for automatic deployment, consortium blockchain management, smart contracts, user and certificate management, software development kit (SDK) applications, as well as monitoring, operating, and maintenance functions.
The platform also supports Java SDK and Node.js SDK.
Alibaba and Blockchain
Alibaba has, so far, been very enthusiastic about the use of blockchain technology. They currently hold about 10 percent of all the blockchain patents in the world, followed by IBM.
It’s not only Alibaba that has gotten in on the Blockchain action. A number of corporations around the world are heavily investing in what can only be called the blockchain race.
This includes Google, Amazon Web Services (AWS) which is also working on a new blockchain platform, Oracle cloud, whose blockchain platform went live earlier this year, Microsoft and IBM which is launching a commercial blockchain platform.
The involvement of billion-dollar corporations in the blockchain industry is one of the best ways by which blockchain can be pushed into the mainstream.
Going by its success in China, blockchain as a service is clearly a viable market and only time will tell how well it does in other parts of the world.