Alipay Applies Blockchain In Metros Service In China For The First Time

Alipay Has Shown Interest In Blockchain Products

Alipay has continued to show interest in the continual release of blockchain products and partnerships with fintech startups.

Consequently, a relative online assistance platform brought in, by the firm 'Xiang Hu Bao', has attracted lots of investors users numbering over 100 members since its inception in 2018.

Hence, Alipay has helped influenced a better health status of China citizens by making it less expensive, especially for low-income societies.

The platform provides its members with a basic health insurance plan for different types of serious sickness. Every participant, as it is have the same medical capacity and budget.

However, the process of providing evidence is based on Alipay’s personal blockchain technology, which doesn’t allow unauthorized access.

Upon approving the claim, the participant gets a lump sum payment of about 300,000 yuan or more, which is then distributed to other participants, equally.

Alipay Is Also Set To Partner With Fintech Platform Finablr

Recent reports suggest that Alipay’s is planning a collaborative partnership with Finablr startup. This agreement is supported by Ant Financial blockchain, which would allow an extensive network of users, while Finablr leverages on Alipay’s technological advances.

Concurrently, one of the goals of the alliance between Finablr and Alipay is to make international transfers easy for country residents as much as possible.

Besides, the payment systems would come as a worthy alternative to global stablecoins, just like the Libra cryptocurrency, scheduled for launch in the next coming year.