Jack Ma’s Ant Digital is tokenizing billions of dollars’ worth of Chinese energy assets on AntChain, with plans to list the tokens on offshore exchanges.
A unit of the Chinese fintech conglomerate Ant Group is tokenizing more than $8 billion worth of energy infrastructure on its own blockchain.
Ant Digital Technologies, the enterprise solutions arm of the Jack Ma-backed Ant Group, is in the process of tokenizing 60 billion yuan ($8.4 billion) of power infrastructure on its AntChain network, according to Bloomberg, citing people familiar with the matter.
The company has been monitoring power output and outages from 15 million energy devices, including wind turbines and solar panels across China, and uploading this data to their blockchain, according to the report.
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