Ali Foundation applies blockchain technology to Chinese stem cell business

Cell and gene therapy has been a key developing field at the forefront of international medicine in recent years. Among them, stem cells are a type of cell of origin with the ability to proliferate, differentiate, and self-renew. They are called ‘pluripotent cells’ in the medical field and are widely used in the fields of disease treatment, organ transplantation, biotherapy, and medical aesthetics.

Currently, hundreds of millions of patients with cardiovascular disease and diabetes in China, as well as 10 million patients with Alzheimer’s disease and hematologic malignancies, are waiting for more active and effective treatment.

The market potential of China’s stem cell industry is enormous, and by 2024, the market size of China’s stem cell medical industry is expected to exceed 130 billion yuan (24 trillion won), growing at an annual rate of more than 13%.

The Ali Foundation, in cooperation with a Korean company that researches, develops and produces the world’s best stem cell culture technology and stem cell-related equipment, established a stem cell center in the center of the European Financial District in Yuhang District, Hangzhou, China, and has established stem cell research centers and stem cell research centers throughout China. The plan is to spend more than KRW 55 billion over three years to build a stem cell infrastructure in China.

The Ali Foundation plans to increase its share of the Chinese stem cell market to more than 5% annually, and announced that all payments will use Ethereum Plus.

The Ali Foundation is actively attracting VIP customers from China by collaborating with stem cell research institutes and hospitals in Shanghai and Hangzhou.