The high-profile Ant Group, owner of the world’s biggest mobile payment platform Alipay, has recently introduced ZAN, a new sub-brand specifically dedicated to blockchain application and services. The unique nature of ZAN’s business model will assist Web3 developers across both institutional and individual settings. The company’s official press release reflects a broad spectrum of technical services and products that ZAN will cater to its clients. This includes assisting Web3 entities with the issuance and management of real-world assets (RWAs), thereby offering a context-sensitive regulatory compliance solution.
Moreover, this technologically advanced venture will extend to cover Know-Your-Customer (eKYC), Anti-Money Laundering (AML) and Know-Your-Transactions (KYT) systems for Web3 as well as Smart Contract Reviews (SCR) and Node Services such as Remote Procedure Calls (RPC) essential for constructing dApps. The brand’s noticeable influence was outlined during the Hong Kong Web3 Festival earlier this year, where HashKey DID, a Web3 decentralized identity data aggregator announced its adoption of ZAN eKYC. This event led to it becoming a prominent partner in ZAN’s brand launch event.
While there’s saunter of optimism, it’s important to note that last year, Ant Group’s plan to go public met regulatory challenges. Their plan was to secure a $226 billion valuation via a $30 billion IPO in both Hong Kong and Shanghai. Had this plan not been disrupted by the Chinese government, this would have led to the largest-ever IPO, thus eclipsing the likes of the $29.4 billion garnered by the Saudi Aramco IPO. Currently, Ant Group aims to list publicly on the Hong Kong exchange. Hence, it remains intriguing to watch how ZAN can further diversify Ant Group’s prospects in the rapidly evolving world of blockchain technology.
However, in a parallel development on the other side of the world, Africa’s blockchain ambitions are inextricably tied with its socio-economic conditions. Stakeholders in the Nigerian blockchain community agreed that before the pervasion of blockchain technology can be achieved, poverty must be eradicated. A sobering statistic from a World Bank report highlighted that only 17 percent of Nigerian workers possess wage jobs potent enough to alleviate them from the clutches of poverty. However, the silver lining emerges from the fact that Nigeria ranks second in search interest for “Bitcoin,” trailing only behind El Salvador. As the blockchain landscape in Africa evolves, these disparities could paint an intriguing contrast.
Source: Cointelegraph
