Ant Financial Released Blockchain App for Housing Accumulation Fund

October 22, 2018

Ant Financial, the developer of the China’s major payment platform Alipay, together with the Yondervision company has launched a new blockchain solution for housing fund management.

The cloud platform named United Credit Disciplinary and Payment Certification Cloud Platform will be applied throughout the province of Hainan for interregional data exchange involving the accumulation fund’s blacklist and payment certificate information.

According to the Alipay’s statement, the platform is to provide extra assistance for residents of the province when acquiring houses in local cities. For instance, the solution will allow users fill in their payment certificates and housing purchase bids via Alipay instead of regular travelling across locations and long waiting for paper check. Blockchain capabilities will help funds request for and check user data via digital signatures as well as verification or QR code.

It is to be added that according to the local media, resident of the city of Quzhou, Zhejiang province, will also gain access to the application soon.

“The blockchain commercial era is coming in 2018, which is far beyond our imagination”, vice president of Ant Financial Jiang Guofei commented on the issue.

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