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Alipay parent unveils AntChain as new blockchain brand

Ant Group, the parent firm of mobile wallet Alipay, has unveiled a new brand identity for its blockchain-based technology called AntChain. The brand will also include the group's artificial intelligence, IoT and secure computation technologies.

AntChain is used in a number of payments-related use cases, including processing health insurance claims, cross-border money transfers, charitable payments and global shipping.

"Since our inception, building trust has been core to our offer to customers," Eric Jing, executive chairman at Ant Group, said in a company release. "We believe in blockchain's potential to redefine trust in the digital age, and in solving real-life problems for our customers."

Ant Group also unveiled a product called AntChain Station, a workstation that is the size of a laptop computer and combines built-in software with a hardware accelerator. The company said AntChain Station can reduce the deployment time of its blockchain-based technologies by 90%.

Ant Group signed strategic agreements with Dell, Hewlett Packard and Lenovo to make IT leasing available to small and medium enterprises through the use of AntChain. An earlier deal was signed with Intel in May.