Ant Group Digital Technologies Unveils ZAN

Ant Group Digital Technologies, associated with China’s Alibaba Group, has unveiled ZAN, a brand dedicated to blockchain provisioning development tools.

Meeting the Needs of Web3 Developers

Ant Group Digital Technologies, a subsidiary of the Chinese Alibaba Group, has announced the release of ZAN. The brand will provide a range of blockchain development products and services aimed at meeting the needs of both corporate and individual web3 developers.

Solving Key Issues in the Web3 Sector

The announcement, made at this year’s Inclusion Conference on The Bund, emphasized the solution to key issues faced by the emerging web3 sector, including regulatory compliance and security.

Customized Solutions for Enterprises

For enterprises, ZAN offers customized solutions for the issuance and management of real-world assets on the blockchain. These solutions aim to make the process compatible with local regulations, building on the former Ant Group experience of transferring RWAs to blockchain platforms.

Addressing Security and Compliance

Security and compliance, critical fears in the arena of web3, are also addressed by ZAN’s product offerings. The package offers electronic know-your-customer (eKYC) and counter-money laundering features, aiming to help companies verify customers’ identities and manage risk.

Smart Contract Review Services for Web3 Developers

For web3 developers, ZAN provides smart contract review services aimed at addressing security, performance, cost, and user experience problems in development. The brand also plans to provide high-performance, high-availability, low-latency, and secure remote procedure call node services.

Piloting and Early Reactions

ZAN started piloting its services earlier this year and secured its first corporate client, HashKey DID, in April 2023. HashKey has adopted ZAN’s eKYC services for its decentralized identity platform. Early reactions indicate a positive reception, but a broader consensus on the usefulness and impact of ZAN is still in the making.

Derived from AntChain Open Labs

It is worth noting that ZAN technologies are derived from the innovations of AntChain Open Labs, which announced its open-source initiative TrustBase at the same conference. TrustBase aims to cover advanced encryption technologies like multi-party computing, zero-cognitive proofs, and fully symmetric coding.