Ant Group Introduces Blockchain-Focused Sub-brand ZAN

Tanya Sharma
Tanya Sharma Published on September 09, 2023 06:52 PM

The new organization, ZAN, will assist the parent company in shedding its Web3 ties and moving through with the IPO.

Ant Group Introduces Blockchain-Focused Sub-brand ZAN
Source: Twitter

Ant Group, the powerhouse behind the world's largest mobile payment platform, Alipay, has recently unveiled its new sub-brand, ZAN. This strategic move signals Ant's entry into the realm of blockchain development and services, catering to both institutional and individual Web3 developers.

The official press release, published on Sept. 8, outlines the extensive range of technical products and services that ZAN is set to provide.

ZAN's offerings kick off with a solution designed to assist Web3 companies in issuing and managing real-world assets (RWAs) while ensuring full compliance with local regulatory requirements.

This innovative approach addresses a crucial need in the evolving blockchain landscape, providing a bridge between digital assets and the physical world.

ZAN for KYC, AML, and Smart Contract Reviews

Beyond RWAs, ZAN is poised to deliver a suite of technical products, including electronic Know Your Customer (KYC) procedures, Anti-Money Laundering (AML) checks, and Know Your Transaction (KYT) services tailored specifically for the Web3 sphere. This comprehensive approach aims to enhance security and compliance for participants in the blockchain ecosystem.

ZAN's commitment to Web3 development extends to providing essential services for building decentralized applications (DApps). This includes offering smart contract reviews and node services, including remote procedure calls. These foundational elements are instrumental in creating robust and secure DApps that can thrive in the decentralized landscape.

ZAN's vision has already garnered support and partnerships within the Web3 community. During the Hong Kong Web3 Festival in April, the Web3 decentralized identity data aggregator, HashKey DID, announced its integration with ZAN's electronic KYC solution. HashKey Group, a prominent player in the blockchain space, joined as one of the inaugural partners in ZAN's journey.

In a parallel development, Ant Group, under the visionary leadership of Jack Ma, has introduced a finance-specific Large Language Model (LLM). This innovation underscores Ant's position as China's leading fintech firm, with a staggering user base exceeding one billion worldwide through its Alipay payment app.

The Pioneering Zhixiaobao 2.0 and Zhixiaozhu 1.0 Apps

Ant's financial LLM is poised to revolutionize the industry. The Zhixiaobao 2.0 app, designed to offer consumers personalized financial insights, boasts analytical capabilities that rival those of the average financial professional. Regulatory approval is the final step before this game-changing tool becomes available to the public.

For financial professionals, the Zhixiaozhu 1.0 app is set to conduct investment analysis and information extraction, streamlining critical business processes in the finance sector.

Ant's venture into financial AI mirrors a broader trend in China, where tech giants like Tencent, Xiaomi, Alibaba, Baidu, and SenseTime Group have all introduced their respective models. This proliferation of large language models has sparked a competitive surge in the Chinese tech landscape.

Ant's Multifaceted Expansion in Tech

Ant Group's dual initiatives in financial AI and blockchain through ZAN and the LLM represent a dynamic expansion into cutting-edge technologies. These moves underscore Ant's unwavering commitment to innovation and its pivotal role in shaping the future of both finance and blockchain in China and beyond. As these endeavors unfold, they promise to leave a lasting impact on the global tech ecosystem.




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