Business· TMT· Fintech

Ant Financial makes acquisition of housing accumulation funds easier with the help of blockchain

minutes 2018/10/18 07:56:52
China's Financial News, China News, Ant Financial

Oct 18, 2018 (China Knowledge) - Ant Financial and Hi-Think Yondervision (Beijing) Tech Co., Ltd will jointly create a 'joint credit punishment and payment certificate cloud platform', the company announced yesterday.

Hainan Province will be the first to use this platform to realize cross-center and cross-regional sharing of the accumulation fund blacklist and payment certificate. This is also the first time that the housing accumulation fund industry adopts blockchain technology.

According to the staff of Alipay, after introducing blockchain technology, plus the deposit proof using the electronic signature, certificate of deposit on the code and QR code technology to ensure the authenticity of personal information, if some user wants to buy a house in a different place, he only needs to apply for a certificate of deposit in Alipay. After obtaining the authorization, the local accumulation fund center can directly inquire and verify the certificate. That means Alipay's users can directly apply for housing accumulation fund loans in different places, without running errands in both places.

In addition, Zhejiang Province will also access the cloud platform synchronously to solve the blacklist sharing problem. The staff from Hi-Think said that, 'We hope to use and share information of the provident fund industry traceable, tamper-proof, shareable, more secure and serve different business scenarios through the technical enablement of Alipay.'.


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