Blockchain Being A Keyword of AliBaba’s AntGroup Prospectus
On Aug 25, AliBaba’s AntGroup submitted the prospectus to the Shanghai Stock Exchange, the Chinese giant simultaneously submitted the A1 application proof to the Hong Kong stock exchange.
The keyword “blockchain” has been mentioned in the prospectus as many as 130 times, which shows of AntGroup’s ambition to the core technology like AI, risk management, security, blockchain, computing, and technical infrastructure. In the prospectus, AntGroup claims that the AntChain business of the company has been commercialized and generated revenue since 2019, and the revenue proportion from blockchain is still at a low level.
AntGroup has continuously invested in the research and development of blockchain technology since 2015, and has built a number of platforms, such as blockchain open platform BaaS (Blockchain as a Service), accounts receivable circulation and asset management platform “, general smart contracts platform, and has formed a unique leading position in large-scale consensus algorithm, smart contract technology, software and hardware privacy protection, cross-chain protocol.
AntChain dominates 2020 global blockchain patent applications
Alibaba (Alipay) holds a commanding lead with a massive 1,457 blockchain patent petitions. Behind it in second place is Chinese conglomerate Tencent with 872. According to official data, the number of blockchain patent applications filed by Alibaba (Alipay) in the first six months of 2020 has been close to that for the whole year of 2019.
Blockchain business has generated revenue
AntGroup’s revenue covers three parts: digital payment and business services, digital financial technology platform and innovative business.
Among them, innovation business refers to the company’s income generated through a number of innovative technology services such as AntChain and financial cloud technology services under the intelligent technology business, as well as the administrative and support services provided to related parties such as Alibaba group and e-commerce bank.
The growth of Antgroup’s innovation business income is mainly driven by the improvement of relevant innovation technology and support service income. Among them, AntChain business has been commercialized and generated revenue since 2019, but the revenue proportion is still at a low level.