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Charity donations to be recorded on blockchain in China

by Futures Centre, Oct 14
1 minute read

Ant Financial, the finance affiliate of the Chinese digital marketplace Alibaba Group Holdings Ltd, has created a private blockchain to record charity donations linked to Alipay (a PayPal equivalent) on its platform Ant Love. With this platform, users will be able to track their donations.

Ant Financial is building a public ledger to record the transactions, but for now access to it is limited to Ant itself. In future, Bloomberg reports, the company aims to grant access to other charity organisations and auditors.

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