ANX International to launch instant, no-cost blockchain app service
ANX International is poised to unveil Wednesday “the world’s first revolutionary global platform” with which anyone can develop blockchain applications instantly and free of charge.
The Hong Kong-based fintech firm’s offering, known as ANX Blockchain Services (ABS), is a cloud platform that customers can use to generate tailored digital assets, digital wallets and branded exchange platform, according to ANX’s website.
A fully self-service platform requiring no software installation, ABS can be used to build a variety of applications, such as loyalty, payment, token, voucher, coupon and registry systems.
The company said on its website it can support a range of customizations based on clients’ business needs, such as merchant applications, APIs and payment gateways.
In an interview with Bloomberg about the new service, ANX CEO Ken Lo said the technology for issuing blockchain-oriented assets has been in development over the past three years. He said the technology has been used internally for some of the company’s biggest clients, including an e-commerce firm looking to operate a loyalty program. By doing so, businesses are able to create reward programs without convoluted back-office measures and mitigate the risk of fraud.
“I can tell you now the demand for people wanting to get blockchain services is very high – that’s why we’ve decided to systematize it,” said Lo to Bloomberg. “We’re helping the general public get access to blockchain by lowering the barriers to using the technology.”
The news outlet gave an example of a prospective use of ABS. A coffee shop owner could register for the service and run a rewards program. Customers can register for an account and every time they purchase coffee, they can scan a QR code on their mobile phone and accumulate points that can go toward a complimentary coffee. By doing so, the café owner can track the points and exchange them at any time, knowing they are valid.
Jeremy Allaire, CEO of fintech firm Circle, told Bloomberg, “Businesses and organizations that want any systems of loyalty will want to use blockchain technology to do that over time because it’s interoperable, global and secure, and exchangeable for other types of assets. We’re a ways from that because we’re not even in a world where digital currency is accepted.”
Lo agreed, telling Bloomberg, “The biggest problem now in blockchain is education and exposure.” He said, “Once you drive the price down to zero, then you’ll see a lot more uses for it.”
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