Blockchain

IOST’s Aiou Tech & Alipay Get Acknowledged By China Mobile Communications Association

Aiou Technology, the enterprise arm of leading blockchain network IOST has added a remarkable credit to its name as it gets selected by China Mobile Communications Association as the “Outstanding Blockchain Program” for giving necessary assistance to the relief operations for curbing the COVID-19 pandemic crisis. The firm has shared the recognition with renowned mobile and online payment system, Alipay.

CMCA serves as a national social entity approved by the State Council of the People’s republic of China. It is chaired by the Working Committee of Central government and State divisions, guided by the Ministry of Industry and Information Technology, and is duly registered under the Ministry of Civil Affairs arm. The news was shared by the co-founder of IOST, Jimmy Zhong, on his social media handle.

IOST shines as an open-source decentralized blockchain project that has been designed to solve the issues related to scalability, security, and speed existing in the blockchain domain. It works on the next-generation consensus algorithm named ‘Proof of Believability’ or PoB which aims to cater to the requirements of the users in the best possible way.

The firm has gained immense popularity from the crypto community since its inception. The present year saw the team receiving recognition and applause from several reputed institutions and state-managed organizations. Recently, Aiou’s working arm, Shanyiou charity information publicity solution was elected as the Official Designated Application by the Blockchain Service Network. In February 2020, Aiou Technology teamed up with the Ningbo and Changsha government, the China Enterprise Federation, and the China Software Association to design a high-end information disclosure initiative. The highly-anticipated project was guided by the research and development of blockchain pedagogy and was aimed to infuse transparency in charity funding pooled for operations against coronavirus.

When a particular organization offers to donate materials or funds to any organization, they have to get themselves registered on Aiou’s information disclosure platform. The registered donors can access all the information related to the donation made along with detailed disclosure of reception and distribution channels, summary details, and real-time status of current donations and expenses. Blockchain ensures full security, transparency, reliability, and immutability of transactions related to donations.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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