Liu Song, VP of Chinese e-commerce giant Alibaba Group, has stated in an interview that the agency is considering blockchain tech implementation for move-border deliver chains. Song’s comments were noted in an editorial published using China’s largest kingdom-owned newspaper, People’s Daily, on Wednesday, March 6.
Song underlined that in destiny, Alibaba could enforce blockchain in complicated deliver chains to create a closed-loop ecological machine that might be related to local governments. Alibaba also plans to develop new technologies inclusive of the Internet of Things (IoT) and blockchain in the fields of customs brokers, worldwide logistics and alternate budget, consistent with Song’s prolonged comments to brokerage and investment financial institution China Galaxy Securities.
Back in December 2018, Alibaba Group announced an improve of its carrier platform to a go-border supply chain platform with using IoT and blockchain technologies.
As Cointelegraph suggested on Oct. 25, the cloud computing arm of Alibaba Group, Alibaba Cloud, introduced their intention to make bigger their enterprise-stage Blockchain-as-a-Service (BaaS) to main global markets inclusive of Europe, the United States, and Southeast Asia.
Earlier in October, Alibaba Group had filed a patent application for a blockchain-based gadget authorizing events to freeze or halt user accounts related to unlawful transactions or interfere in a blockchain network, Cointelegraph wrote on Oct. 5.
Recently, the World Trade Organization posted a file that underlined the effectiveness of blockchain programs for several industries, which includes pass-border trade finance, logistics, and transportation.