Ant Group’s digital arm puts $65.57b worth of energy assets on its blockchain

It completed financing for three clean energy projects through this approach.

Ant Digital Technologies, the enterprise solutions arm of the Jack Ma-backed fintech giant Ant Group Co., is reportedly linking over $65.57b  (RMB60b) worth of energy infrastructure and other real-world power assets to its blockchain known as AntChain, according to a report by Bloomberg.

The report said that Ant Digital has been tracking the power output and potential outages of some 15 million new energy devices, including wind turbines and solar panels in China, and uploading the data to its blockchain.

Tokens linked to those assets will be issued next. The report said some of that has already begun.

According to the report, the firm has completed financing for three clean energy projects using this approach, raising about $327.m (RMB300m) in total for the companies that operate them.

The report noted that Ant Digital is exploring options for future expansion, including putting tokens on decentralised exchanges offshore to create more liquidity for the assets, pending regulatory approval.

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