On May 27, Ant Financial, an innovative technology tentacle of Alibaba Group, announced a cooperative effort with Intel to make it much easier and cost-effective for SMEs to lease IT equipment, leveraging the application of blockchain technology to strengthen transparency and build a system of trust.

After joining the Ant blockchain, the hardware leasing supply chain system with Intel chips as the source will realize the overall blockchain among leasing manufacturers, insurance companies, and financial institutions. All information in the process of circulation is true and unchangeable. In this way, it can reduce the cost of mutual trust in each link; improve the supply efficiency and financing efficiency in the middle and downstream of the chip industry chain; boost the supply quantity of chip suppliers, and inject new vitality into the traditional chip industry.

Jiang Guofei, vice president of Ant Financial and person in charge of the Ant blockchain said: "In the era of the digital economy, the construction of a multiparty cooperation trust system makes it possible to realize the transfer of asset value in the entire digital link."

(Compiled by Xu Yuhong)