Alibaba Exec: E-Commerce Giant Considering Blockchain Use in Complex Supply Chains

In an interview, Liu Song, VP of Chinese e-commerce giant Alibaba Group, has stated that the agency is considering blockchain tech implementation for cross-border delivery chains. Song’s comments were noted in an editorial published in China’s largest state-owned newspaper, People’s Daily, on Wednesday, March 6.

Song underlined that in destiny, Alibaba could enforce blockchain in complicated delivery chains to create a closed-loop ecological machine that might be related to local governments. Alibaba also plans to develop new technologies, including the Internet of Things (IoT) and blockchain in customs brokers, worldwide logistics, and alternative budgets, consistent with Song’s prolonged comments to brokerage and investment financial institution China Galaxy Securities.

In December 2018, Alibaba Group announced an improvement of its carrier platform to a go-border supply chain platform using IoT and blockchain technologies.

As Cointelegraph suggested on October 25, the cloud computing arm of Alibaba Group, Alibaba Cloud, introduced its intention to expand its enterprise-stage Blockchain-as-a-Service (BaaS) to the main global markets,includingf Europe, the United States, and Southeast Asia.

Earlier in October, Alibaba Group filed a patent application for a blockchain-based gadget authorizing events to freeze or halt user accounts related to unlawful transactions or interfere with a blockchain network, Cointelegraph wrote on October 5.

Recently, the World Trade Organization posted a file that underlined the effectiveness of blockchain programs for several industries, including cross-border trade finance, logistics, and transportation.