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.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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