At the fifth World Internet Conference in Wuzhen, blockchain technology from Ant Financial was awarded the World Leading Internet Scientific and Technological Achievements Prize, which included 15 technological breakthroughs chosen by a selection committee comprised of 44 renowned global experts and industry leaders.

Mr. Eric Jing, chairman and CEO of Ant Financial believes that the greatest value of blockchain is to reconstruct the trust mechanism with technology, which will have a profound impact on the future financial and business world. “The next few years will be critical for the development of the blockchain. In the next one or two years, the real value of the blockchain technology will begin to emerge.”

Ant Financial blockchain has focused on two things. First, is to conquer core technologies and build a self-controlled, high-performance, high-reliability and high-security financial blockchain platform. Second, is to actively explore the application scenarios of blockchain and accelerate the understanding of the core value of the technology.

This Single’s Day on November 11, the blockchain technology will facilitate the traceability of 150 million imported products on Tmall’s platform. In addition to diamonds from Belgium, other products including infant formula, beauty and healthcare products, liquor, and foods such as rice and honey all benefit from the technology’s traceability services.

Through Ant’s blockchain, the intelligent system integrates product traceability data to a consortium chain, which ensures the transparency and integrity of the information and builds trust among shoppers who are purchasing expensive imported products.