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Its new platform “Trusple”, a contraction of “trust made simple”, is based on the company’s blockchain technology Antchain. Buyers and sellers can upload trading orders to the platform, which automatically generates a smart contract with information such as logistics. The banks of both buyers and sellers can then process payments using Antchain.
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Ant has submitted the most number of blockchain patent applications globally over the past two years, according to patent database IncoPat. The technology, a digital ledger that forms the backbone of many crypto-currencies such as bitcoin, has seen a burst of interest in China since late 2019 when President Xi Jinping said the country should accelerate its development.
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