| The name of the base system (platform): | Projects based on blockchain technology |
| Developers: | Ant Financial Services Group |
| Date of the premiere of the system: | March, 2020 |
| Branches: | Financial services, investments and audit |
Content |
2020: Help in fight against a coronavirus
United Nations in March, 2020 specified in the monthly newsletter that blockchain- the platform developed Chinese financial that- the company Ant Financials, helps to fight against a pandemic coronavirus.
The UN recognized the deposit Ant Duo-Chain — the financial platform intended for the companies from a supply channel. As a rule, after any supplier delivers goods, he should wait within several weeks before the account payment is approved and is made.
Ant Duo-Chain allows small and medium business to receive money instantly, transferring receipt accounts to banks which receive money from corporate clients. It provides higher liquidity to suppliers.
It is difficult to small entrepreneurs to receive financing from banks because the last have no necessary information for understanding of financial flows of business, from here and risks. Using Ant Duo-Chain, bank, the supplier and corporate client can exchange parts of transactions, increasing trust between the parties. Therefore, the bank knows that the account real whether it was approved and also sees capability or inability of the client to pay the transaction. It reduces risks for banks therefore it can pay money to the supplier quicker.
 | Ant Duo-Chain, the financial platform for supply chains using a blockchain developed by Ant Financial allows suppliers to address among small and medium business the credits of banks with their receivables from large enterprises, helping them to cope with financial restrictions during a coronavirus pandemic, said in the statement of the UN. |  |
Ant Financial also started an online auction on a blockchain to allow entrepreneurs to participate in contactless biddings for purchases.[1]
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Notes
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