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Ant Group's CEO Xianzhuo revealed new exploration in green development: supporting the first renewable energy RWA project in China

AInvestWednesday, Oct 16, 2024 3:20 am ET
1min read

On October 16, during the opening of the 2024 ESG Global Leader Conference, Ant Group Chairman and CEO Eric Jing revealed the latest exploration of Ant Group in promoting web3 technology to reality and accelerating the development of green industries: under the guidance of the Hong Kong Monetary Authority, Ant Digital supported a mainland new energy company to successfully obtain a cross-border financing of RMB100 million in Hong Kong through RWA (Real World Assets tokenization, tokenization of physical assets). This is the first RWA project in the mainland's new energy industry and one of the first tokenization-themed cases announced by the Hong Kong Monetary Authority, demonstrating the latest exploration and practice of sustainable finance supporting the development of the new energy industry.

Ant Digital used blockchain, AIoT and other integrated technologies to create an RWA solution with excellent performance and secure credibility to achieve the RWA of mainland new energy assets in Hong Kong. By packing the value, operation and revenue data of charging piles on the blockchain, it forms asset tokens, allowing investors to assess asset credit; by building "two chains and one bridge" (asset chain, trading chain and Ant Chain cross-chain bridge), it realizes asset credibility and transparency, and enables efficient collaboration among all parties, allowing green assets and global funds to be efficiently connected, truly realizing technological empowerment of physical assets.

Over the past few years, Ant Chain's trusted on-chain technology has been widely applied in new energy fields such as new energy vehicles, batteries and photovoltaic panels, with more than 12 million devices already on the chain. Based on the data on the chain of new energy assets, device suppliers, device operators, financial institutions, recycling companies and other parties in the industry chain can achieve mutual trust and low-cost, high-efficiency collaboration to create new value.

"The invention and application of new technologies must be the best path to solve the climate change problem. We will increase exploration and openness to provide more innovative models and technology solutions for high-quality green development," Jing said in his speech.

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