Jack Ma’s Ant Digital Unit To Tokenize $8.4 Billion In Energy Sector Assets
China’s Ant Digital Technologies, a unit of the Jack Ma-owned Ant Group, is tokenizing over $8 billion worth of energy infrastructure on its own blockchain network. That’s according to a Bloomberg report that cited sources familiar with the matter as saying the unit is in the process of tokenizing 60 billion yuan ($8.4 billion) of power infrastructure on the AntChain network. The report said Ant Digital Technologies h as been monitoring the power output and outages for 15 million new energy devices in China, including solar panels and wind turbines, and uploading the data to its blockchain. Ant Digital Technologies Plans To Issue Tokens For Energy Infrastructure It has already raised around 300 million yuan ($42 million) to finance three clean energy projects. The unit now plans to issue tokens linked to those assets. One of plans on the unit’s roadmap is to also offer tokens on offshore decentralized exchanges (DEXs) to create more liquidity for the ...