Ant Group Digital Technologies Launches ZAN: A Suite of Blockchain Development Tools for Web3 Developers
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Ant Group Launches ZAN: A New Brand for Blockchain Development Tools
Ant Group Digital Technologies, a subsidiary of China’s Alibaba Group, has introduced ZAN, a brand dedicated to providing blockchain development tools. ZAN aims to cater to the needs of both institutional and individual web3 developers by offering a range of products and services.
Addressing Key Challenges in the Web3 Sector
The launch of ZAN at this year’s Integration Conference on Bund signifies the resolution of crucial issues faced by the emerging web3 sector, including regulatory compliance and security concerns.
Specialized Solutions for Enterprises
For enterprises, ZAN provides specialized solutions for issuing and managing real-world assets (RWAs) on the blockchain. These solutions ensure compliance with local regulations and leverage Ant Group’s experience in porting RWAs to blockchain platforms.
Enhancing Security and Compliance
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ZAN’s product offerings also address security and compliance in the web3 domain. The suite includes features such as Electronic Know Your Customer (eKYC), Anti-Money Laundering, and Know Your Transaction, which help companies verify customer identities and manage risks.
Support for Web3 Developers
Web3 developers can benefit from ZAN’s smart contract review services, which aim to address security, performance, cost, and user experience issues in application development. ZAN also plans to provide high-performance and secure remote procedure call node services.
Early Success and Future Potential
ZAN has already started piloting its services and secured its first institutional client, HashKey DID, in April 2023. Initial feedback suggests positive reception, but the overall consensus on ZAN’s benefits and effects is still developing.
Innovations from AntChain Open Labs
ZAN technologies are derived from the innovations of AntChain Open Labs. At the same conference, AntChain Open Labs announced its TrustBase open source initiative, which aims to cover advanced encryption technologies.
