Ant Financial Services Group (“Ant Group”) announced on 27 May a cooperative effort with Intel to make it much easier and more cost-effective for SMEs to lease IT equipment, leveraging the application of blockchain technology to strengthen transparency and build a system of trust.
Using proprietary blockchain technology, the partnership aims to empower the IT equipment leasing industry while accelerating the digital transformation of SMEs, many of which have seen their capital flows and supply chains disrupted amid the COVID-19 pandemic.
This partnership draws from Ant Group and Intel’s complementary strengths to bolster transparency and efficacy among IT leasing vendors, enabling them to serve more SMEs and help them grow their businesses with improved efficiency and lowered cost.
Ant Blockchain, Ant Group’s proprietary productivity blockchain platform, can help all parties in the entire IT rental and leasing process to build trust with each other.
Meanwhile, Intel’s cloud device management technology allows leasing vendors to check the use status of the authorized hardware device using Intel’s CPU.
Increasing the level of trust and transparency among all parties in the leasing process enables financial institutions, such as insurance companies and SME loan providers, to swiftly make informed decisions about businesses, giving SMEs greater flexibility to expand their operations.
“Blockchain technology can play a pivotal role in building a solid system of trust among multiple parties and bringing more value to consumers, vendors, and the communities they operate in,” said Geoff Jiang, Vice President of Ant Group.
Yali Liang, Vice President of Sales, Marketing and Communications Group of Intel, said, “With Ant Blockchain, we can help SMEs reduce fixed costs and alleviate pressure from IT equipment maintenance, which will accelerate the digital transformation of the IT rental industry.”
Ant Group has formed international partnerships with global strategic partners to serve local users in those markets, and we serve Chinese travelers overseas by connecting Alipay with online and offline merchants. Brands under Ant Group include Alipay, Ant Fortune, MYbank, and WorldFirst.