The service is meant to be so secure it will enable large scale adoption of digital evidence in Chinese courts.
Onchain, an open-source universal Blockchain developer based in Shanghai, has announced that its consortium chain product, the Law Chain (technology originates from Antshares), will provide technology for Alibaba’s Ali Cloud, a blockchain-powered email evidence repository. Onchain provides the bottom-layer framework for Ali Cloud, including its open-source blockchain capabilities, which allows any company to customize its own enterprise-level blockchain with individualized functionalities.
The sides wished to clarify: "Ali Cloud uses Law Chain, a consortium chain. Though the technology is from Onchain's technology, Law Chain remains a different entity, so it does not constitute Alibaba-Onchain cooperation."
Until now, it’s been difficult to extract original email files as digital evidence that can be qualified in Chinese courts. But the developers explain that with this new blockchain-based email evidence repository, users will be able to synchronize and store critical data (along with hash values) of important emails to third parties. In the case of conflicts, users can download the emails in question and send them as evidence to judicial departments.
“Blockchain technology is expanding into more territories due to its high efficiency, advanced security, functionality, and low cost,” said Da Hongfei, CEO of Onchain and founder of Antshares. “This combination of blockchain technology and digital evidence storage will completely alter the landscape of traditional evidence storage, bringing more efficiency and security.”
This isn't the first foray into blockchain territory by Alibaba. Back in August the Chinese group’s finance arm, Ant Financial, created a private blockchain to record all donations on its 'Ant Love' charity platform linked to Alipay. Sometimes called the Chinese PayPal, Alipay sits at the heart of Jack Ma’s (the richest man in China) e-commerce empire as the dominant online Payments provider in the country with over 400 million users.
Onchain, an open-source universal Blockchain developer based in Shanghai, has announced that its consortium chain product, the Law Chain (technology originates from Antshares), will provide technology for Alibaba’s Ali Cloud, a blockchain-powered email evidence repository. Onchain provides the bottom-layer framework for Ali Cloud, including its open-source blockchain capabilities, which allows any company to customize its own enterprise-level blockchain with individualized functionalities.
The sides wished to clarify: "Ali Cloud uses Law Chain, a consortium chain. Though the technology is from Onchain's technology, Law Chain remains a different entity, so it does not constitute Alibaba-Onchain cooperation."
Until now, it’s been difficult to extract original email files as digital evidence that can be qualified in Chinese courts. But the developers explain that with this new blockchain-based email evidence repository, users will be able to synchronize and store critical data (along with hash values) of important emails to third parties. In the case of conflicts, users can download the emails in question and send them as evidence to judicial departments.
“Blockchain technology is expanding into more territories due to its high efficiency, advanced security, functionality, and low cost,” said Da Hongfei, CEO of Onchain and founder of Antshares. “This combination of blockchain technology and digital evidence storage will completely alter the landscape of traditional evidence storage, bringing more efficiency and security.”
This isn't the first foray into blockchain territory by Alibaba. Back in August the Chinese group’s finance arm, Ant Financial, created a private blockchain to record all donations on its 'Ant Love' charity platform linked to Alipay. Sometimes called the Chinese PayPal, Alipay sits at the heart of Jack Ma’s (the richest man in China) e-commerce empire as the dominant online Payments provider in the country with over 400 million users.
Binance Trial on Ice in Nigerian Court as Lawyers Demand Missing Documents
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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